For instance, buyer happy with ONIDA tv communicates the equivalent to others via word-of-mouth. In classes much like skincare and cosmetics, for example, new gamers are capturing on-line share that’s disproportionately large in distinction with their offline share. CPG companies want a full channel strategy—one that maximizes reach and minimizes channel conflict. As for channel conflicts, firms ought to discover out and quantify these conflicts, then design and implement containment strategies that they monitor and refine regularly. The nation outcomes are weighted by age based on census information, and weighted by earnings based mostly totally on panel information. Consumers the world over have become increasingly more conscious of their due rights and, consequently have flip into very demanding and picky. These logos give the patrons a licensed assure of the standard of the merchandise bearing them.
A term plan that provides extra cowl in case of any mishap because of an accident. This section helps you understand the sum of money that you would put cash into both fairness or debt as per your danger preference. Even though know-how is old enough, the implementation is experiencing a serious revolution. There may be many alternatives within the trade, but on the identical time, there are many risks and challenges. spf 55 sunscreen The development course of for house IoT methods just isn’t so easy as creating ordinary smartphone apps.
The Psychology Of Consumption
Buying motive is a motive which may be glad by the acquisition of the commodities. In order to reduce his anxiousness in regards to the product, the after-sale companies are essential as it develops loyalty, increases gross sales and revenue. Dissatisfaction from the present product or service may give rise to restlessness and again a need to satisfy the urge. A particular Allueur CBD and Hemp Skincare Products and Cosmetics person may be having deep rooted needs which can suddenly turn out to be dominant and urgent underneath conducive surroundings. Understanding the excellence may assist householders shield their cats along with ease the signs of painful and uncomfortable illnesses and issues. The time period hemp is used to call the sturdy delicate fiber from the Cannabis plant stem .
The commonest is to inform shoppers and retailers of the date as so much as which they’ll anticipate the food to retain its desired high quality and taste. But analysis by GS&P led it to ponder it’ll work to promote to current milk followers. Through focus groups, they found consumers solely drink milk with one thing 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 purchase motivations, five negative motives and three optimistic motives, which energise purchase selections as illustrated in the table under. These motivations are believed to offer constructive reinforcement or negative reinforcement. As individuals’s residing standards continue to increase and incomes continue to increase, people’s life ideas are constantly altering. Differences in consumer persona are the internal motivations for adjustments in shopper consciousness.
Smart grid technologies emerged from earlier makes an strive at utilizing digital administration, metering, and monitoring. Early forms of such demand facet administration applied sciences were dynamic demand conscious gadgets that passively sensed the load on the grid by monitoring modifications within the vitality provide frequency. You can discover the answers to all these questions, however provided that you analysis shopper conduct. Plus, we’ll help Allueur Hemp and CBD Infused Skincare Products you larger perceive what shopper conduct seems like and the means to acknowledge it. Think of the difficulty – in time and money – if that washer or refrigerator is always breaking down. But you merely should do your homework before you spend any vital amount of money on a services or products. It’s National Consumer Protection Week, an ideal time to unveil the brand new-and-improved model of my Ten Commandments.
In e-commerce and completely different excessive -progress retail channels, too many large consumer 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 uses the standard battery of market analysis strategies similar to surveys, depth interviews and focus groups. Increasingly, researchers are turning to newer methodologies and technologies in an effort to seek deeper understandings of why shoppers behave in sure methods. These newer strategies embrace ethnographic analysis and neuroscience in addition to experimental lab designs. In addition, researchers often flip to separate disciplines for insights with potential to inform the examine of shopper behaviour. For occasion, behavioural economics is adding contemporary, new insights into certain aspects of consumer behaviour. There are psychological components which contribute to a shopper’s notion surrounding their personal contributions to climate change inducing actions.
It is important that the corporate can create the product also in relation to the superstar as the movie star just isn’t solely a spokesman/ face of the brand but they are additionally a shopper of the product. “Effective communication is more likely when there might be some common ground between the 2 events”. Because customers humanize manufacturers (Ambroise, Pantin-Sohler, Valette-Florence & Albert, 2014) the superstar must fit with the brand. This highlights the significance of the match up between the superstar’s image and the model’s picture .
The objective of sustainability is to scale back your ecological footprint, which is a measure of how briskly we devour belongings and generate waste in comparability with how briskly the planet can recuperate from our habits. “It is frequently financially troublesome for us as a one-revenue family, as a end result of ethically made objects value some huge money, as they need to,” Ms. Harreld said. Farai Harreld was pregnant with her daughter when she realized it was time to downsize. She and her husband had merely purchased their first home, which was significantly smaller than their rental. A huge component of Zero Waste entails realizing that the creation of waste is often not essential. Technological limitations on metering not drive peak power prices to be averaged out and passed on to all purchasers equally.
According to the authors, the buyer may either get satisfaction or dissatisfaction depending on the evaluation of the acquisition and comparison of their own expectations. The end result varieties the expertise of the customer and it this expertise is believed to have a direct impression on the subsequent decision of the consumer to buy the same product from the same seller. People originating from totally different cultures, sub cultures, occupations and even social class have completely different styles of dwelling. It is necessary to know what social class is being targeted as usually the shopping for behaviour of a social class is quite similar. Remember not simply the earnings however even other elements describe social class of a gaggle of customers. Buying of merchandise similar to computers, laptops, property, cars, schooling, and so on which requires a huge amount of research and economic involvement comes under this category or type.
By discovering out purchaser’s loyalty taking half in playing playing cards, the French hypermarket Carrefour hoped to hunt out methods to get its prospects to buy nonfood devices that have higher profit margins. Smith advises prospects to routinely evaluation meals of their kitchen cabinets or pantry which can be previous their “Best if Used By” date to hunt out out if the usual is enough to be used. If the merchandise have modified noticeably in shade, consistency or texture, patrons would possibly want to stay away from consuming them. They should perceive how buyers make on the lookout for options and what influences these alternatives.
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Indeed, colours have been shown to be linked to consumer’s perceptions on a product’s top of the range, reliability, and worth. The colors blue and black are seen as being extra dependable, priceless, and dear while yellow, orange, and brown are associated with cheapness and low prime quality. However, this could be advantageous if the client is already available on the market for an merchandise that’s recognized to be low-cost, by which case the usage of yellow, orange, or brown could possibly be related.
The virus is reshaping the patron items industry in actual time, quickly accelerating long-term underlying tendencies within the house of mere weeks. Our analysis indicates that new habits formed now will endure past this crisis, completely changing what we value, how and where we store, and how we live and work. People reside in another way, buying differently and in many ways, pondering differently. Consumers throughout the globe are taking a look at merchandise and types via a model new lens. While purchases are at present centered on essentially the most primary wants, people are buying extra consciously, buying local and are embracing digital commerce. Below, I list a quantity of suggestions on responsible buying practices and consciousness of provide chains. While this record is not complete, it does present the framework for more accountable consumption.
Advertising & Gross Sales
The frontal lobe of your ideas is answerable for creativity, planning, and draw again-fixing, so actions that engage it principally probably the most are inventive pursuits. However, though every exist in hashish crops, the distribution of the 2 chemical compounds can differ wildly relying on the plant. To decide where the service or product could be made out there for easy entry of customers. To design the very best services or products that absolutely satisfies consumer’s wants and demands. Elena is within the strategy of beginning up her personal beauty cosmetics line within the close to future. Elena can be a contributing writer to pattern and way of life magazines and has been featured in Vice, Country Living, Harrods journal, Daily Telegraph, Grazia and Women’s Health.
] advertisers have begun trying to quantify and qualify the utilization of celebrities of their advertising campaigns by evaluating their[whose? ] consciousness, attraction, and relevance to a brand’s picture and the celebrity’s influence on client buying behaviour. When a star is promoting a brand there could be risks concerned, the place there’s a miscommunication between the consumer and the representation of the product. In some cases, there is not a connection between the product and the celebrity, which might turn out to be an efficient or a faulty outcome because of the place and relevance of the product. When Celebrity Branding does not work out for a firm, the superstar could be seen as a scheme to advertise the individual as a advertising instrument. Ideally, some shoppers believe that corporations who use superstar endorsers, as a advertising technique to promote a product should select an endorser who utilizes and enjoys using the product. Therefore, ethically they are trusting the brand and showing potential customers the effects of the product and making the commercial extra plausible.
Most of the world would put our very lives within the arms of the Coca Cola Corporation for merely this objective. Many instances the client Mercy buy items from a particular shop for cause not clear to them additionally.
Why Is It Important To Be A Responsible Consumer?
Moreover, the understanding consumer behaviour also helps entrepreneurs to know the what, the place, when, how and why of the consumption of product consumption . These help entrepreneurs or organizations to know the reason behind the acquisition of product by shoppers and the method it satisfies them. Among other components, the basic needs like shelter and hunger along with yearning for psychological fulfilment tends shopper to purchase a certain product or providers. Under social elements reference teams have a fantastic potential of influencing consumer behaviour. There are many parts which will influence the acquisition various of consumers just like social influence, cultural influences, psychological parts and private elements . Understanding these parts helps entrepreneurs to market the product on correct time to probably the greatest patrons.
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This might be contributed to the fact that some consumers imagine recycling/composting has little to no effect. Others believe it is the obligation of the producers to be mindful of utilizing green elements, subsequently put no particular person effort into decreasing their carbon footprint. This is why it is important for production companies to discover the green advertising motion, and the way they can scale back their very own unfavorable results on environmental issues. One of the more effective ways of reducing an organization’s carbon footprint is through boycotting. Thus it is important for customers to bear in mind of which merchandise they are buying, and how they may change their consumption patterns to develop a extra green international market. The diffusion model developed by Everett Rogers is widely used in shopper marketing as a outcome of it segments customers into five groups, based on their price of recent product adoption. An innovation is any new thought, object or process that’s perceived as new by members of the social system.
Setting the right value level typically takes appreciable market data and, especially with new merchandise, testing of various pricing options. Although recently there was a shift in buyer behaviour with non-price components also enjoying a task within the shopper determination process, price nonetheless remains the most important factor that influences the buyer’s determination. It is extremely vital to fix prices on the right degree after sufficient market analysis and evaluation of things like competitors’ strategies, market situations, price of manufacturing, and so forth.
It’s helpful for bouts of pressure in addition to generalized anxiousness and insomnia; nonetheless, CBD doesn’t set off extreme sedation the best way by which many different anti-anxiety and sleep medicines can. The details about THC toxicity in cats, in addition to CBD and hemp merchandise for feline health. Common unwanted effects embrace dizziness, feeling tired, vomiting, and hallucinations. Concerns along with memory and cognition points, hazard of dependancy, schizophrenia in young of us, and the hazard of children taking it by likelihood.
This chapter moreover underlines the importance of critically analysing and evaluating the strategic plan’s effectiveness, and to take remedial actions, if essential. Chapter 8 signifies how pricing has turn into a very important element inside the marketing mix. It outlines the pricing methods that are usually employed within the journey commerce, including prestige pricing, penetration pricing, value-based pricing, differential pricing and uniform pricing. Chapter 9 suggests that pricing and revenue management techniques stimulate demand from totally totally different clients to earn the utmost income from them. It clarifies how this self-discipline includes utilizing worth optimisation methods that align the best merchandise to every purchaser section.
There are considerable differences between courses with reverence to buying conduct and the other factor is that a social class system exists in nearly all societies. Because of this assortment, different social lessons are more likely to react in numerous manner to a vendor’s advertising applications tailored to particular social courses. The purchase decision begins with the problem recognition stage, which happens when the patron identifies a necessity, typically outlined because the difference between the patron’s current state and their desired state. Information search is the section where customers scan both their internal memory and external sources for details about products or manufacturers that can potentially satisfy their want. The purpose of the data search is to determine a list of options that represent sensible buy options. Throughout the complete process, the buyer engages in a sequence of psychological evaluations of options, searching for one of the best worth.
On the other hand rational patronage motive are the logical reason that a shopper has for buying the products from a selected retailer solely. Many time prospects have causes to purchase the products from a particular store only. Imagine looking for a house or a automotive; these are an instance of a fancy shopping for habits.
Family Consumption Expenditure
It is necessary to be sincere with yourself about who your precise closest opponents are and how they worth their products. Value is a customer’s notion of relative price and performance of a product. The data of all these steps are important for stakeholders to grasp their involvement within the course of. External Stakeholders are affected by or can affect a business’s actions with out being instantly engaged within the business. When potential consumers usually are not happy, the exchange falters and the objectives of the marketer cannot be met.
For instance, for instance that an organization is about to release a model new model of tv. The extra they charge for this new mannequin, the fewer televisions they will anticipate to sell general. However it may be agreed that consumerism has certainly led to a market growth that has helped shape the trendy society. The demand of the folks has led to the event more and higher merchandise which has made our lives simpler. Consumerism has risen in apply in the trendy world especially because the Industrial Revolution, gradually, hand in hand with Capitalism. In the twentieth century, mass manufacturing reached the levels of overproduction and thus companies turned to marketing and advertising to control consumer demands.
As there could also be constant change within the dwelling requirements, growth, kind and alter in experience; consumer’s perspective in course of the purchase of product varies . Understanding these parts is of utmost significance on account of the promoting of merchandise is principally relying on these elements. Behavioralistic attribute requires plenty of promoting analysis to hunt out out the product and mannequin loyalty stage of buyers. How people react in path of certain presents; when firm provides them positive advantages and packages. Thus, we uncover that, smart buying refers to buying the correct of products or services on the right time, on the correct place and on the best worth. It is a course of of creating a looking for dedication within the correct approach, so that you simply simply don’t regret in future. The Emporia’s specific individual breaker takes the guess work out for 240V residence equipment.
And rightly so—if an organization fails to make the initial sale, it won’t have to worry about consumption. To promote sales, well being membership managers encourage members to get the payment out of the method in which early; HMOs encourage automated payroll deductions; and cruise strains bundle small, particular prices right into a single, all-inclusive payment. “Decoding is the process of transforming 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 essential.
Chapter eight discusses in regards to the idea of the model id of destinations from the suppliers’ perspective. She explicates how this vacationer vacation spot has used an authenticity-primarily based mostly technique to leverage itself as a definite mannequin id amongst different places. Firstly, the authors give attention to the promoting endeavors of a local renovated lodge. Secondly, they provide related examples of how other wellness and spa cities in Britain, together with; Bath and Harrogate are organizing events and festivals to draw worldwide vacationers all 12 months lengthy.
Media analysis companies have been compelled to plan new methodologies capable of monitoring new and unprecedented viewing habits all via a numerous differ of various platforms. For example, an adolescent may be plugged into radio via earphones whereas engaged on the Internet, the place he or she is scanning on-line newspapers and magazines. Thus the person could also be consuming three or further media alternate choices on the same time.
Consumer goods are merchandise purchased for consumption by the standard shopper. Basic or uncooked supplies, similar to copper, aren’t thought-about shopper gadgets due to they have to be reworked into usable merchandise. Because a clever grid has fairly a few entry elements, like sensible meters, defending all of its weak components can current troublesome. Professor Theodore Levitt says that shopper behaviour is of most significance to entrepreneurs in enterprise research as the primary objective is to create and retain prospects . If the patrons are happy with the product, she or he will purchase the identical product as quickly as more. Therefore, the product ought to be marketed by markers in such a means that convince buyer to buy the product.
Smith advises customers to routinely have a look at meals in their kitchen cabinets or pantry which may be past their “Best if Used By” date to find out if the quality is sufficient to be used. If the merchandise have modified noticeably in color, consistency or texture, buyers might want to avoid consuming them. Allueur anti aging cbd moisturizer 30 ml Approximate location is recorded for elective time clock function.Wyze BulbYes/NoYesNoNoWirecutter long-time interval exams all of its picks, together with preserving observe of hardware and software incidents. Nataly Komova Should any privateness or security factors be discovered with any of our chosen merchandise, we’ll report it correct proper right here and, if needed, update or alter our recommendations. After this shopper searches related information associated to product on the thought of which determination is taken and buy is made. Social elements are a major factor in influencing shopper habits and they’re important to analyse shopper habits as properly.
Ultimately, the company gained a “Grand Effie” at the thirty ninth Annual Effie Awards by unanimous determination. And today, this company keeps a decent stranglehold on its market-leading position. Yet pricing choices can have essential penalties for the advertising organization and the attention given by the marketer to pricing is simply as important as the eye given to extra recognizable advertising activities. A variety of software training institutes such as NUT, Aptech, Boston Software, etc. supply a two or three-year scholar programme.
“It appears buyers have had a great weekend and have realised how many other individuals have also been having fun with newly reinstated opportunities,” said Danni Hewson, monetary analyst at AJ Bell. Gambling firm Rank Group led the leaderboard, rising 14.2p to 196.2p, followed by Mr Kipling’s father or mother Premier Foods, which gained 6p to 107.6p. Joining them in the prime 10 was Frankie & Benny’s proprietor The Restaurant Group, which added 6.4p to 128.4p, in addition Hana to pub chain Wetherspoon. Similar kinds of blue-chip firms helped push the FTSE one hundred to close in constructive territory, though positive aspects were tempered by miners which principally fell after China’s commodity price warnings. Meanwhile, shares globally struggled for momentum as investors awaited key US inflation readings for steerage on monetary coverage.
- In establishing safety requirements, it is necessary that governments allow industry, the scientific group and the public to contribute data and ideas.
- Product breadth, however, refers to the number of product lines an organization presents.
- U.S. sanctions banned Google from providing technical assist to new Huawei cellphone models and entry to Google Mobile Services, the bundle of developer providers upon which most Android apps are primarily based.
- “Habitual evaluation” refers to a situation where customers ignore branding and promotion of services and products in a retailer, maybe due to loyalty in the course of the model, shortage of time, or different causes.
The intensity of the need will indicate the pace with which an individual will move to meet the want. Transmission of information is the extent to which significantly concerned clients send details about the product to others. The researchers have proven that if consumers are extremely involved they speak in regards to the product incessantly than others. Satisfied consumers are more doubtless to converse beneficial concerning the product, while unsatisfied communicate negatively. Therefore, entrepreneurs catering to extremely involved customers should attempt to boost shopper satisfaction and reduce dissatisfaction. For example, buyer happy with ONIDA tv 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 gather reply to these questions before he goes to formulate his promoting approach. Thus, detail data in regards to the client, his behaviour, looking for motives and habits present us with reasons why consumer differ from one to a special in buying and using product and providers. Studying shopper conduct moreover helps marketers resolve how Arabella to present their merchandise in a method that generates a most influence on consumers. Understanding consumer buying habits is the important thing secret to reaching and fascinating your shoppers, and changing them to purchase from you. Learning is the research of providers earlier than the consumer takes the choice of purchasing for a product. The shopper market is comprised of customers, and after they preserve consuming services.
In addition, native product consumption attracts some shoppers who are willing to pay more for it. The second-hand market may be very widespread in Germany, especially in the huge cities, for economic, ecological and social causes. This interprets with the purchase in fripperies, second-hand stores but also with on-line exchanges. The collaborative economic system is extensively developed, each with VTC platforms, apartment rentals and carpooling. Information could be collected from many different sources like prints or digital media or from people’s critiques about sure merchandise. Making a buy order choice is necessary so the buyer doesn’t are usually hasty while gathering information about the products and model available in the market.
A savvy marketer can construct a model for prospecting new consumers from the attributes of a satisfied customer. Direct advertising corporations create higher response rates by utilizing look-alike modeling primarily based on existing customers—individuals with a constructive angle. To determine whether and the means to enter a overseas market, we have to conduct some form of cross-cultural consumer evaluation. Cross-cultural consumer Best CBD Lotions evaluation can be outlined as the effort to discover out to what extent the consumers of two or more nations are similar or totally different. The function of learning a self-discipline is to assist oneself to better recognize its contributions. The reason to study client behaviour is due to the role it performs in the lives of humans.
But the utility, or “usefulness,” of most items vary depending on a person’s particular person preferences. Since the utility an individual will get from a great defines her demand for it, utility additionally defines the consumer surplus a person may get from buying that merchandise.
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It is a means of developing a purchasing for decision within the proper technique, in order that you do not remorse in future. The Emporia’s specific particular individual breaker takes the guess work out for 240V residence devices. Market segmentation, significantly demographic segmentation based on socioeconomic standing index and family life-cycle, furthermore turned trendy. With the addition of shopper behaviour, the promoting self-discipline exhibited rising scientific sophistication with respect to precept enchancment and testing procedures. You can current the people commercials, promoting provides, product information, and something on which you’d like their opinion. You usually compensate the individuals who take part with money 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 movement all through a promoting marketing marketing campaign. The proliferation of latest media has given prospects a lot greater administration over the place and as rapidly as they entry content material material material materials. Should any privateness or problems with safety be found with any of our chosen merchandise, we’ll report it right proper here and, if wished, substitute or alter our concepts. This one-means circulate of data is expensive; the final word 10% of manufacturing capability might even be required as little as 1% of the time, and brownouts and outages can hemp seed oil be expensive to prospects. On the opposite hand, ask a high web worth specific particular person to purchase a typical toyota automotive and he’ll scoff at you. Similarly, whenever you ask the conservative one to buy highway garments instead of shopping for branded clothes, he’ll scoff at you too.
The proliferation of latest media has given prospects lots larger administration over the place and as shortly as they entry content supplies supplies. Should any privateness or safety factors be discovered with any of our chosen merchandise, we’ll report it right right right here and, if needed, substitute or alter our ideas. If you have to be a sensible consumer, you have to know what to purchase and why to buy. This one-means move of data is expensive; the final 10% of manufacturing capacity could even be required as little as 1% of the time, and brownouts and outages can hemp seed oil be dear to clients. The target market moreover determines important components regarding the product itself. In reality, an organization might tweak positive components of a product, similar to the quantity of sugar in a delicate drink, so that it’s additional vulnerable to be bought by consumers with varied tastes. In addition, with on-line retailing turning into increasingly more glorious, many on-line respondents are additionally on-line prospects.
Smaller corporations, in contrast, are most interesting served by aiming to turn into a product/service sort of businesses, filling throughout the additional fragmented parts of that landscape. In the second class are aggregation platforms—digital and physical platforms that foster connections, broker marketplaces, or mixture data. Understanding the timing and pace of change of their industries and subsectors will assist companies assess when and the place to play in these altering occasions. To succeed, merchandise have to be smarter, additional personalized, extra responsive, more related, and cheaper.
The examine tracks down international sales of consumer electronics in 20+ excessive progress markets, along with the thorough analysis of the new trends and demand-supply patterns across the world. According to Kotler a perception is ‘a descriptive thought that a person holds about something’. A client may imagine that certain restaurant makes one of the best meals and is fairly priced so it is expected that he will proceed to have dinners there. A perception can be changed by marketers in order to make shoppers to buy a particular product, for instance Coca Cola Company launched Coke Zero in respond to the frequent perception that folks get fats after they drink Coke.
In addition, with on-line retailing turning into increasingly outstanding, many on-line respondents are additionally on-line shoppers. Consumer behaviour could possibly be very complicated because of every consumer has fully completely different mind and angle in path of purchase, consumption and disposal of product . Be constructive you get a copy of the customer’s information whenever you buy the auto from the vendor. Ethical and environmental factors are moreover now not being space of curiosity requires and scanty producers to turn into important factors 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.