Much as Millennials were the vanguard of several new shopping styles that bled into other generations’ behaviour as well, Gen Z will be the earliest adopters of some of the trends coming to commerce.This report identifies three major trends in shopper behaviour, examines case studies of companies already seeing success, and describes how these trends will power Shopping Reinvented in the years ahead.
This report comes in PPT.
Since 2017, access to technology has continued to grow significantly across all markets. The percentage of households possessing a smartphone globally is expected to increase from 64% in 2017 to 80% by the end of 2021. In the Coronavirus era, consumers are increasingly digitally connected and are using their devices to engage with brands.
Merchants also have greater access to technology than just two years ago. Many of them accelerated investments in a variety of online consumer-facing and back-end technologies due to the pandemic and the increased demand for e-commerce. Technology investments made into digital channels, logistics and improved customer experiences over the past 18 months will support brands and retailers even after the pandemic is past.
Changing values have also remained an important factor in the development of Shopping Reinvented. Time remains a priority for most, as consumers adapt to buying a wide range of categories online. At the same time, some of the most connected consumers are looking to limit their use of technology. This “digital detox” is in some ways a reaction to “always on” cultures and has consumers rethinking the amount of time they spend using their devices. The search for greater value continues to be a relevant concern for a large number of consumers.
The result of these factors has been a greater division between buying (which is convenience-orientated and often tech-enabled) and shopping (which is more social and experiential).
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