For instance, purchaser pleased with ONIDA television communicates the identical to others through word-of-mouth. In categories similar to skin care and cosmetics, for example, new gamers are capturing on-line share that’s disproportionately massive in distinction with their offline share. CPG firms need a full channel strategy—one that maximizes reach and minimizes channel battle. As for channel conflicts, corporations ought to determine and quantify these conflicts, then design and implement containment methods that they monitor and refine regularly. The country outcomes are weighted by age based totally on census knowledge, and weighted by earnings primarily based totally on panel data. Consumers the world over have turn into increasingly extra conscious of their due rights and, consequently have turn into very demanding and picky. These logos give the patrons a licensed guarantee of the standard of the merchandise bearing them.
A time period plan that gives further cowl in case of any mishap due to an accident. This part helps you perceive the sum of money that you would spend cash on either equity or debt as per your threat choice. Even though technology is old enough, the implementation is experiencing a severe revolution. There may be many alternatives within the business, however at the similar time, there are numerous dangers and challenges. The development course of for home IoT systems just isn’t as easy as developing ordinary smartphone apps.
The Psychology Of Consumption
Buying motive is a motive which can be glad by the purchase of the commodities. In order to scale back his anxiousness concerning the product, the after-sale services are crucial because it develops loyalty, increases sales and revenue. Dissatisfaction from the existing product or service may also give rise to restlessness and again a must satisfy the urge. A person Allueur CBD Beauty Products could also be having deep rooted needs which may abruptly become dominant and urgent underneath conducive environment. Understanding the distinction might help owners shield their cats along with ease the signs of painful and uncomfortable diseases and issues. The time interval hemp is used to call the sturdy gentle fiber from the Cannabis plant stem .
The commonest is to tell customers and retailers of the date as a lot as which they’ll anticipate the food to retain its desired top quality and taste. But analysis by GS&P led it to ponder it’s going to work to advertise to present milk followers. Through focus teams, they discovered consumers solely drink milk with something else. This kind of hysteria can affect customers’ subsequent behaviour and could have implications for repeat patronage and purchaser loyalty.
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Another strategy proposes eight buy motivations, 5 unfavorable motives and three positive motives, which energise buy selections as illustrated in the desk beneath. These motivations are believed to supply optimistic reinforcement or unfavorable reinforcement. As individuals’s residing standards continue to increase and incomes proceed to increase, folks’s life ideas are continuously changing. Differences in shopper personality are the interior motivations for adjustments in client awareness.
Smart grid applied sciences emerged from earlier makes an strive at using digital administration, metering, and monitoring. Early types of such demand side administration utilized sciences had been dynamic demand aware gadgets that passively sensed the load on the grid by monitoring modifications throughout the vitality provide frequency. You can discover the answers to all these questions, nonetheless provided that you analysis shopper conduct. Plus, we’ll assist Allueur Hemp and CBD Infused Skincare and Beauty Products you to higher perceive what shopper conduct looks like and the means to acknowledge it. Think of the difficulty – in time and money – if that washer or fridge is always breaking down. But you merely must do your homework earlier than you spend any vital amount of money on a services or merchandise. It’s National Consumer Protection Week, a perfect time to unveil the model new-and-improved model of my Ten Commandments.
In e-commerce and completely different excessive -progress retail channels, too many massive shopper firms lag smaller, quicker-moving rivals. While nationwide milk gross sales had been on the decline, they elevated 7% in California by 1994.
To gain insights into shopper behaviour, researchers makes use of the usual battery of market research strategies such as surveys, depth interviews and focus groups. Increasingly, researchers are turning to newer methodologies and technologies in an effort to hunt deeper understandings of why shoppers behave in sure methods. These newer methods include ethnographic research and neuroscience as properly as experimental lab designs. In addition, researchers often flip to separate disciplines for insights with potential to tell the examine of shopper behaviour. For instance, behavioural economics is including fresh, new insights into sure features of client behaviour. There are psychological factors which contribute to a client’s perception surrounding their personal contributions to climate change inducing actions.
It is necessary that the corporate can create the product additionally in relation to the movie star because the superstar is not only a spokesman/ face of the model however they are also a shopper of the product. “Effective communication is extra probably when there could be some widespread floor between the two parties”. Because customers humanize brands (Ambroise, Pantin-Sohler, Valette-Florence & Albert, 2014) the superstar should fit with the model. This highlights the significance of the match up between the superstar’s picture and the model’s image .
The goal of sustainability is to reduce your ecological footprint, which is a measure of how briskly we devour assets and generate waste in comparability with how briskly the planet can recuperate from our habits. “It is continually financially tough for us as a one-revenue family, because of ethically made items value some huge money, as they want to,” Ms. Harreld stated. Farai Harreld was pregnant along with her daughter when she realized it was time to downsize. She and her husband had simply bought their first house, which was significantly smaller than their rental. A huge factor of Zero Waste entails realizing that the creation of waste is normally not essential. Technological limitations on metering not drive peak energy costs to be averaged out and handed on to all clients equally.
According to the authors, the patron could both get satisfaction or dissatisfaction relying on the analysis of the acquisition and comparison of their own expectations. The consequence varieties the experience of the client and it this expertise is believed to have a direct impression on the following determination of the consumer to purchase the identical product from the same vendor. People originating from totally different cultures, sub cultures, occupations and even social class have totally different kinds of residing. It is important to know what social class is being targeted as usually the buying behaviour of a social class is kind of comparable. Remember not just the earnings but even different elements describe social class of a group of consumers. Buying of merchandise similar to computers, laptops, property, automobiles, training, and so on which requires an enormous amount of analysis and economic involvement comes beneath this category or type.
By finding out purchaser’s loyalty taking part in taking half in cards, the French hypermarket Carrefour hoped to hunt out methods to get its customers to purchase nonfood devices which have larger revenue margins. Smith advises prospects to routinely analysis meals of their kitchen cupboards or pantry which can be earlier their “Best if Used By” date to hunt out out if the usual is adequate for use. If the merchandise have modified noticeably in shade, consistency or texture, patrons may wish to stay away from consuming them. They should understand how buyers make looking out for alternate options and what influences these alternatives.
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Indeed, colors have been proven to be linked to consumer’s perceptions on a product’s prime quality, reliability, and value. The colours blue and black are seen as being further dependable, priceless, and dear while yellow, orange, and brown are associated with cheapness and low high quality. Allueur luxury cbd vitamin c face serum However, this can be advantageous if the buyer is already in the marketplace for an merchandise that’s recognized to be low-cost, by which case the utilization of yellow, orange, or brown might possibly be relevant.
The virus is reshaping the consumer items industry in actual time, quickly accelerating long-term underlying trends within the space of mere weeks. Our research signifies that new habits shaped now will endure beyond this crisis, permanently altering what we value, how and the place we store, and how we stay and work. People are living in a different way, shopping for differently and in many ways, pondering in a different way. Consumers throughout the globe are taking a look at products and types through a model new lens. While purchases are presently centered on probably the most fundamental wants, individuals are shopping more consciously, buying local and are embracing digital commerce. Below, I record a selection of suggestions on responsible buying practices and awareness of provide chains. While this list is not complete, it does provide the framework for extra accountable consumption.
Advertising & Sales
The frontal lobe of your ideas is answerable for creativity, planning, and draw again-fixing, so actions that interact it basically probably the most are inventive pursuits. However, though every exist in cannabis crops, the distribution of the 2 chemical compounds can differ wildly counting on the plant. To determine the place the service or product would be made obtainable for simple entry of shoppers. Allueur Hemp and CBD Infused Skincare and Beauty Products To design the finest possible product or service that totally satisfies consumer’s wants and demands. Elena is inside the strategy of beginning up her own magnificence cosmetics line within the near future. Elena can additionally be a contributing author to development and lifestyle magazines and has been featured in Vice, Country Living, Harrods journal, Daily Telegraph, Grazia and Women’s Health.
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] advertisers have begun making an attempt to quantify and qualify the use of celebrities of their marketing campaigns by evaluating their[whose? ] consciousness, appeal, and relevance to a model’s picture and the superstar’s influence on shopper shopping for behaviour. When a celeb is promoting a brand there could be dangers involved, where there’s a miscommunication between the consumer and the representation of the product. In some circumstances, there is no connection between the product and the celebrity, which can turn out to be an effective or a faulty outcome as a end result of position and relevance of the product. When Celebrity Branding doesn’t work out for a agency, the movie star may be seen as a scheme to promote the individual as a advertising instrument. Ideally, some shoppers consider that companies who use movie star endorsers, as a advertising technique to advertise a product ought to select an endorser who makes use of and enjoys utilizing the product. Therefore, ethically they’re trusting the model and showing potential consumers the effects of the product and making the commercial more plausible.
Most of the world would put our very lives in the arms of the Coca Cola Corporation for merely this function. Many cases the shopper Conchita purchase items from a specific store for purpose not clear to them also.
Why Is It Important To Be A Accountable Consumer?
Moreover, the understanding client behaviour also helps marketers to know the what, the place, when, how and why of the consumption of product consumption . These help entrepreneurs or organizations to know the rationale behind the purchase of product by consumers and how it satisfies them. Among other elements, the basic needs like shelter and hunger together with yearning for psychological fulfilment tends shopper to purchase a certain product or services. Under social components reference teams have a incredible potential of influencing consumer behaviour. There are many parts that may influence the purchase alternative of consumers just like social influence, cultural influences, psychological elements and personal elements . Understanding these elements helps entrepreneurs to market the product on correct time to probably the greatest consumers.
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This could possibly be contributed to the truth that some customers believe recycling/composting has little to no effect. Others believe it’s the obligation of the producers to be aware of utilizing inexperienced elements, subsequently put no individual effort into reducing their carbon footprint. This is why it is important for manufacturing firms to discover the green marketing movement, and the way they will scale back their own negative results on environmental points. One of the simpler methods of decreasing an organization’s carbon footprint is through boycotting. Thus it’s important for shoppers to remember of which products they are buying, and the way they could change their consumption patterns to develop a more green world market. The diffusion mannequin developed by Everett Rogers is broadly used in consumer advertising as a result of it segments shoppers into five groups, based mostly on their price of recent product adoption. An innovation is any new concept, object or course of that’s perceived as new by members of the social system.
Setting the proper value level usually takes appreciable market data and, especially with new merchandise, testing of various pricing options. Although lately there has been a shift in purchaser behaviour with non-price components also enjoying a role in the client decision course of, price still stays the main factor that influences the buyer’s determination. It is extremely important to repair prices at the proper degree after sufficient market research and analysis of factors like competitors’ strategies, market situations, cost of manufacturing, and so forth.
It’s useful for bouts of tension along with generalized anxiousness and insomnia; nonetheless, CBD doesn’t set off extreme sedation the way in which many alternative anti-anxiety and sleep medicines can. The information about THC toxicity in cats, along with CBD and hemp merchandise for feline health. Common negative effects embrace dizziness, feeling drained, vomiting, and hallucinations. Concerns together with reminiscence and cognition points, danger of dependancy, schizophrenia in young of us, and the danger of children taking it by probability.
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This chapter additionally underlines the significance of critically analysing and evaluating the strategic plan’s effectiveness, and to take remedial actions, if needed. Chapter eight signifies how pricing has become a very necessary component throughout the marketing mix. It outlines the pricing methods that are normally employed within the journey trade, including status pricing, penetration pricing, value-based pricing, differential pricing and uniform pricing. Chapter 9 suggests that pricing and income administration methods stimulate demand from completely different shoppers to earn the utmost income from them. It clarifies how this self-discipline entails using price optimisation methods that align the right products to each purchaser part.
There are considerable differences between courses with reverence to purchasing conduct and the opposite thing is that a social class system exists in nearly all societies. Because of this assortment, totally different social courses are prone to react in numerous manner to a seller’s advertising applications tailored to particular social lessons. The purchase decision begins with the problem recognition stage, which happens when the patron identifies a need, sometimes defined because the distinction between the patron’s present state and their desired state. Information search is the part the place consumers scan both their inside reminiscence and external sources for information about merchandise or brands that can probably satisfy their want. The goal of the knowledge search is to determine a list of choices that characterize practical buy options. Throughout the complete course of, the consumer engages in a sequence of psychological evaluations of alternate options, trying to find the most effective worth.
On the alternative hand rational patronage motive are the logical purpose that a client has for buying the goods from a selected retailer solely. Many time prospects have causes to purchase the merchandise from a specific retailer only. Imagine looking for a home or a automotive; these are an instance of a elaborate buying conduct.
It is necessary to be sincere with yourself about who your actual closest competitors are and the way they price their merchandise. Value is a customer’s notion of relative value and performance of a product. The information of all these steps are important for stakeholders to grasp their involvement in the course of. External Stakeholders are affected by or can have an result on a business’s actions without being immediately engaged within the enterprise. When potential buyers aren’t happy, the exchange falters and the goals of the marketer can’t be met.
For instance, for instance that an organization is about to release a brand new model of tv. The more they charge for this new mannequin, the less televisions they will count on to promote overall. However it can be agreed that consumerism has indeed led to a market boom that has helped form the trendy society. The demand of the folks has led to the development more and better products which has made our lives easier. Consumerism has risen in apply within the fashionable world particularly since the Industrial Revolution, progressively, hand in hand with Capitalism. In the 20th century, mass manufacturing reached the levels of overproduction and thus firms turned to advertising and advertising to govern shopper demands.
As there may be constant change in the dwelling requirements, development, type and alter in experience; consumer’s perspective in direction of the acquisition of product varies . Understanding these parts is of utmost significance because of the advertising of products is basically relying on these parts. Behavioralistic characteristic requires lots of promoting evaluation to hunt out out the product and model loyalty level of shoppers. How individuals react in course of certain offers; when agency provides them positive benefits and packages. Thus, we uncover that, smart buying refers to buying the right kind of services or products on the best time, at the proper place and on the right value. It is a course of of creating a on the lookout for dedication within the correct method, so that you just simply don’t remorse in future. The Emporia’s categorical individual breaker takes the guess work out for 240V residence tools.
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And rightly so—if an organization fails to make the initial sale, it won’t have to fret about consumption. To promote sales, health club managers encourage members to get the fee out of the way early; HMOs encourage automated payroll deductions; and cruise lines bundle small, particular prices into a single, all-inclusive fee. “Decoding is the method of reworking the sender’s message again into thought”. This explains the reasoning once more of why choosing the right superstar to endorse a product is so crucial.
Chapter eight discusses about the idea of the model id of destinations from the suppliers’ perspective. She explicates how this vacationer trip spot has used an authenticity-primarily based technique to leverage itself as a particular mannequin id among different locations. Firstly, the authors give attention to the promoting endeavors of a neighborhood renovated lodge. Secondly, they provide associated examples of how other wellness and spa cities in Britain, along with; Bath and Harrogate are organizing events and festivals to draw worldwide vacationers all year lengthy.
Media analysis firms have been compelled to plan new methodologies in a position to monitoring new and unprecedented viewing habits all through a varied differ of varied platforms. For example, an adolescent may be plugged into radio by way of earphones whereas engaged on the Internet, the place she or he is scanning on-line newspapers and magazines. Thus the person may be consuming three or additional media alternate selections on the similar time.
Consumer items are merchandise bought for consumption by the usual shopper. Basic or raw offers, similar to copper, aren’t considered shopper gadgets due to they have to be reworked into usable merchandise. Because a sensible grid has fairly a quantity of entry parts, like wise meters, defending all of its weak parts can present troublesome. Professor Theodore Levitt says that client behaviour is of most importance to entrepreneurs in enterprise research as the first objective is to create and retain prospects . If the shoppers are glad with the product, she or he will purchase the identical product as quickly as extra. Therefore, the product must be marketed by markers in such a way that persuade customer to purchase the product.
Smith advises prospects to routinely take a look at meals in their kitchen cabinets or pantry which can be previous their “Best if Used By” date to search out out if the standard is sufficient to be used. If the merchandise have modified noticeably in colour, consistency or texture, shoppers would possibly want to avoid consuming them. Approximate location is recorded for elective time clock function.Wyze BulbYes/NoYesNoNoWirecutter long-time interval exams all of its picks, together with maintaining observe of hardware and software incidents. Nataly Komova Should any privateness or safety points be discovered with any of our chosen merchandise, we’ll report it correct right right here and, if wanted, replace or alter our ideas. After this shopper searches related information related to product on the considered which dedication is taken and buy is made. Social parts are a major factor in influencing shopper habits and they’re essential to analyse shopper habits as properly.
Ultimately, the corporate gained a “Grand Effie” at the thirty ninth Annual Effie Awards by unanimous decision. And today, this firm keeps a tight stranglehold on its market-leading place. Yet pricing selections can have important consequences for the advertising organization and the eye given by the marketer to pricing is simply as necessary as the eye given to more recognizable advertising activities. A variety of software training institutes similar to NUT, Aptech, Boston Software, and so forth. offer a two or three-year student programme.
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“It seems buyers have had a great weekend and have realised how many different individuals have also been having fun with newly reinstated opportunities,” mentioned Danni Hewson, financial analyst at AJ Bell. Gambling company Rank Group led the leaderboard, rising 14.2p to 196.2p, followed by Mr Kipling’s mother or father Premier Foods, which gained 6p to 107.6p. Joining them in the prime 10 was Frankie & Benny’s owner The Restaurant Group, which added 6.4p to 128.4p, in addition Parker to pub chain Wetherspoon. Similar forms of blue-chip companies helped push the FTSE a hundred to close in positive territory, although gains were tempered by miners which largely fell after China’s commodity price warnings. Meanwhile, shares globally struggled for momentum as buyers awaited key US inflation readings for steering on financial coverage.
- In establishing security requirements, it is necessary that governments allow business, the scientific group and the common public to contribute information and ideas.
- Product breadth, however, refers to the variety of product strains an organization offers.
- “Habitual evaluation” refers to a scenario the place customers ignore branding and promotion of services and products in a retailer, maybe due to loyalty in course of the brand, shortage of time, or different reasons.
The depth of the want will point out the speed with which an individual will move to meet the want. Transmission of information is the extent to which tremendously involved prospects ship information about the product to others. The researchers have shown that if customers are highly involved they talk in regards to the product regularly than others. Satisfied shoppers are likely to communicate beneficial concerning the product, whereas unsatisfied speak negatively. Therefore, entrepreneurs catering to highly concerned shoppers ought to attempt to boost client satisfaction and reduce dissatisfaction. For instance, customer proud of ONIDA television communicates the identical to others via word-of-mouth.
If the group didn’t analyse how a buyer will reply to a specific product, the company will face losses. Marketer ought to collect answer to these questions before he goes to formulate his promoting technique. Thus, detail knowledge in regards to the client, his behaviour, shopping for motives and habits current us with the reason why client differ from one to a special in shopping for and utilizing product and companies. Studying shopper conduct moreover helps entrepreneurs resolve how Arabella to current their merchandise in a method that generates a most affect on customers. Understanding client buying habits is the necessary thing secret to reaching and fascinating your shoppers, and changing them to purchase from you. Learning is the research of services before the patron takes the choice of buying a product. The shopper market is comprised of customers, and after they preserve consuming companies.
In addition, native product consumption attracts some consumers who’re prepared to pay extra for it. The second-hand market is very widespread in Germany, particularly in the big cities, for financial, ecological and social reasons. This translates with the purchase in fripperies, second-hand shops but additionally with online exchanges. The collaborative economy is broadly developed, both with VTC platforms, condo leases and carpooling. Information can be collected from many different sources like prints or digital media or from people’s reviews about certain products. Making a purchase choice is essential so the buyer does not are usually hasty whereas gathering details about the merchandise and model obtainable in the market.
A savvy marketer can construct a model for prospecting new shoppers from the attributes of a glad buyer. Direct advertising corporations create higher response rates by utilizing look-alike modeling based on present customers—individuals with a constructive angle. To decide whether or not and the means to enter a international market, we have to conduct some type of cross-cultural shopper evaluation. Cross-cultural client Allueur Hemp and CBD Infused Skincare Products analysis may be defined as the trouble to determine to what extent the customers of two or more nations are similar or different. The function of finding out a discipline is to help oneself to better appreciate its contributions. The purpose to study client behaviour is because of the position it plays within the lives of humans.
But the utility, or “usefulness,” of most items range depending on a person’s particular person preferences. Since the utility an individual will get from a good defines her demand for it, utility also defines the buyer surplus a person may get from buying that item.
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It is a means of setting up a purchasing for determination inside the correct technique, so that you do not regret in future. The Emporia’s particular particular person breaker takes the guess work out for 240V residence instruments. Market segmentation, significantly demographic segmentation primarily based on socioeconomic standing index and family life-cycle, furthermore turned fashionable. With the addition of shopper behaviour, the promoting self-discipline exhibited rising scientific sophistication with respect to principle enchancment and testing procedures. You can current the individuals commercials, promoting provides, product data, and one thing on which you’d like their opinion. You usually compensate the people who participate with cash or with free merchandise.
And it brought on them to fall behind Britain’s Reebok, America’s athletic sneaker chief. The time lag in reporting fails to provide advertisers with adequate lead conditions to take corrective motion all by way of a selling advertising campaign. The proliferation of newest media has given prospects a lot bigger administration over the place and as rapidly as they entry content material materials material materials. Should any privateness or problems with safety be found with any of our chosen merchandise, we’ll report it right proper right here and, if wished, substitute or alter our ideas. This one-means circulate of data is expensive; the last word 10% of producing functionality might even be required as little as 1% of the time, and brownouts and outages can hemp seed oil be costly to prospects. On the other hand, ask a high internet value explicit specific individual to buy a typical toyota automotive and he’ll scoff at you. Similarly, if you ask the conservative one to buy street clothes instead of shopping for branded garments, he’ll scoff at you too.
The proliferation of newest media has given prospects so much larger administration over the place and as shortly as they entry content materials materials. Should any privateness or safety points be found with any of our chosen merchandise, we’ll report it appropriate right here and, if wished, substitute or alter our concepts. If you should be a smart client, you should know what to buy and why to buy. This one-means move of knowledge is costly; the final 10% of manufacturing capability might even be required as little as 1% of the time, and brownouts and outages can hemp seed oil be dear to prospects. The target market moreover determines necessary components concerning the product itself. In reality, a company may tweak constructive components of a product, such as the amount of sugar in a fragile drink, in order that it’s further susceptible to be purchased by buyers with varied tastes. In addition, with on-line retailing turning into increasingly more wonderful, many on-line respondents are additionally on-line prospects.
Smaller companies, in contrast, are finest served by aiming to turn into a product/service kind of companies, filling within the further fragmented portions of that landscape. In the second class are aggregation platforms—digital and physical platforms that foster connections, broker marketplaces, or combination information. Understanding the timing and speed of change of their industries and subsectors will assist companies assess when and the place to play in these changing events. To succeed, merchandise should be smarter, extra custom-made, extra responsive, extra connected, and cheaper.
The research tracks down international sales of client electronics in 20+ high development markets, along with the thorough analysis of the new trends and demand-supply patterns the world over. According to Kotler a belief is ‘a descriptive thought that a person holds about something’. A shopper may believe that sure restaurant makes the most effective meals and is fairly priced so it’s expected that he will proceed to have dinners there. A perception can be changed by entrepreneurs so as to make shoppers to buy a selected product, for instance Coca Cola Company launched Coke Zero in reply to the widespread belief that folks get fat after they drink Coke.
In addition, with on-line retailing turning into more and more outstanding, many on-line respondents are moreover on-line shoppers. Consumer behaviour might be very difficult because of each client has completely completely different thoughts and angle in path of purchase, consumption and disposal of product . Be positive you get a reproduction of the customer’s guide everytime you purchase the auto from the vendor. Ethical and environmental factors are moreover not being area of curiosity requires and scanty producers to show into essential points for anyone.
Author Biography: Elena Ognivtseva
Elena is an avid blogger who enjoys writing articles on fashion, beauty, lifestyle, fitness and recently, CBD niches. Elena has been described as a "delightfully eccentric with a creative take on things" (New York Times) with an ability to "bring you new facts that will make you go WOW!" (Vanity Fair). Elena has been writing since her uni days where she was a regular contributor to the student magazine. After pursuing a career in finance in the heart of London's financial hub, Elena has decided to start blogging in her spare time as an outlet for her creativity and ideas. During her spare time, Elena enjoy horse riding, camping and hiking, interior design and keeping abreast with the latest trends. Elena is in the process of starting up her own beauty cosmetics line in the near future. Elena is also a contributing author to fashion and lifestyle magazines and has been featured in Vice, Country Living, Harrods magazine, Daily Telegraph, Grazia and Women's Health.