Changing Consumer Behaviour Trends

It’s safe to say that COVID-19 has changed the way we live our daily lives, at least for now. It’s also changed our perception of risk and vulnerability. And it’s certainly changed the way we and your customers shop. 

The days of casual in-store browsing are less frequent - shopping is now a quick, anxious, and targeted experience. Eighty-three percent of North American shoppers say their in-store shopping behaviour has changed since the coronavirus hit according to a recent survey from Field Agent.

Meanwhile, the online marketplace has been booming as the public adopts a more targeted shopping experience. Pure ecommerce platforms in the Americas have seen an 80% increase in demand since January 2021, according to emarsys.

There is no crystal ball to tell how long or if this consumer shift will last but these insights can assist in understanding what a “new normal” could look like in the future.

Flattening Curve of Confidence - Consumers acclimation to the current situation is strong with the expectation for things to improve.

Four Types of Shoppers - a) Retirees whose lives now have limited social contact b) the work-from home set c) those laid off d) those who have not changed.

Online is the New Normal - There’s a consumer expectation that most needs can be met digitally and that consumers are more comfortable in doing so.

Pivoting to Meet Demand - Retail pivoting to meet demand is the new normal under restrictions. In some cases this pivot will be permanent.

Customers OK with being Marketed to and Researched - Shoppers are more responsive to well-targeted online advertising and are starting to pay more attention to marketing messages.

Some Demand Will Recede - Not all online demand will continue to be strong as social distancing measures lift.

Ramped Up Virtual Service - Sales and customer service associates should be prepared to provide virtual service just like they have provided service in-person.

Substitution - Brand loyalty may take a back seat to newer, less-known products. Substitution is more common place. Manufacturers may leverage brand loyalty to provide direct to consumer opportunities currently fulfilled by franchises or distributors.

Virtual Shopping Experiences - There’s more opportunities for virtual shopping whether it be showroom tours linked to commerce, virtual tours of vehicles or new behaviour on clothing shopping.

Joe Wozny is a digital thought leader, strategist, author, blogger and CEO of Concentric. Read more about Joe on this site and at joe's author site of joewozny.com

This article is from the Fall/Winter Edition of Digital Dollars and Sense. Click here to view Digital Dollars and Sense editions and download the latest Digital Dollars and Sense ebook.