Today we can safely say that shopping is a lot different than what it used to be. It has come a long way and the shopping behavior is constantly changing. The era of the dot com explosion has taken the world of shopping by storm! Thanks to the internet now people do not even have to get out of their house for shopping. It is important for retailers to know the constantly changing shopping behavior in order to update their business as per the need of the consumer. Here are mentioned some of the important changes:
1. Types of Shopping
When it comes to shopping, people try the major three types of shopping that are visiting the retail store, online shopping, as well as click and connect. With smartphones becoming smarter by the day, a majority of millennials are opting to shop online. It does not mean other generations such as baby-boomers or Gen-X are left behind, they too opt for the convenient option of shopping online, and it is one of the biggest trends in shopping today.
2. The Graph Just Rises
The number of digital buyers worldwide in 2014 was 1.32 billion people and by the end of 2018 it was 1.79 billion, and the graph is showing no signs of dipping in 2019 and by 2020 the experts are expecting it to be 2.05 billion people. There is a whole new shopping world out there in the digital space and this seems like a good opportunity for the retailers.
3. Beware of the Conscious Consumers
“Conscious Consumer” is a term that is used rather frequently off late in the world of business. A conscious consumer is one who cares about how something, who cares about how his or her action can impact the world. It could range anything from being socially, politically, ecologically, environmentally, health-wise, or value-wise conscious person. When it comes to shopping, a conscious consumer is always interested in knowing the origin of the product as well as how it was produced. Many conscious consumers are concerned about environmental-friendly products, they would like to know more about the company that they are purchasing from, after all, it is a responsibility and they want their money to go the authentic companies out there. They would not hesitate to pay a little extra that is cruelty-free as well as free of human rights violations.
4. What Grabs the Attention of a Consumer?
Surveys have shown that consumers are mainly impressed by the visual appearance followed by sound and smell and then texture. The colors of the product play an important role in grabbing the attention of the consumer as well as it increases brand recognition. Different colors denote different meaning to consumers. For instance, bring colors to denote fun while a color like black denotes power and expensiveness. There are certain colors that appeal to impulsive buyers while there are certain other colors that impress conscious consumers. Quality of packaging is another important aspect that appeals to consumers.
5. The Rise in Subscription Boxes
The boxes are a great treat to the customers. Consumers love it because they get to experience the surprise every month, they get something for almost free value, they love the feeling of owning something new every month, low monthly payments, who does not love to unbox mystery boxes, they also make for a great gift, they get to use it before they actually buy it, easy signups and hassle-free subscriptions are the plus points that are seeing a rise in subscription boxes.
What do the Changes Shopping over the Years Mean for Retailers?
Constant changes can be difficult to cope with for business, but instead of taking it negatively it can be considered as an opportunity to enhance the business. It helps the retailers understand their customers by tracking their behavior online and in store. Ease of business can help in customer retention. Easy payment methods, flexible options to customize as per individual’s needs, a variety of products all help in customer retention. Being aware of what your competitors are offering for their customers that you are not offering will help you know where you are lacking. Product packaging should be given equal importance as it is one-way consumers identify the brand. Upgrading yourself with the latest consumer trends will help you to make necessary changes to your business. You can know all about it and more in the detailed and easy to understand infographic from Rombus Packaging given below.
Disclaimer: Feature image & infographic image courtesy of Rombus Packaging.