Report: the future shopper, 2023 edition

Articles & Reports
 |  
Oct 2023
 |  
Wunderman Thompson
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What: Wunderman Thompson release their 2023 edition of the future customer, including their analysis of the behavioural evolutions.


Why it is important: Customers are channel agnostic, and do not care about systems. What they want, how they want it, is changing and retailers have to take into account a multitude of moving parameters at the same time.


The report highlights 15 main takeaways about the current and future trends in online shopping and consumer behavior:


  1. Online spending continues to grow steadily, albeit at a slower pace compared to the big jumps during the pandemic. However, consumers predict that 64% of their spending will be online in the next 10 years, so the online shift is here to stay.


  1. Working from home is changing how people research and shop online. 65% say they shop more online due to working from home, while 66% spend more time researching purchases. Loyalty to retailers is also shifting as commerce becomes more digital.


  1. Consumers want seamless omni-channel experiences across an increasing number of touchpoints and devices. 60% prefer retailers with both physical and digital stores. Mobile dominates with 32% of online spend, but a balanced device strategy is key.


  1. The customer journey remains predominantly digital, with 64% of inspiration and 71% of search happening online. But physical stores have re-emerged post-pandemic as sources of inspiration and search.


  1. Marketplaces continue to dominate, driving 35% of online spending globally. But D2C branded sites have grown from 7% to 14% of all online spend, overcoming attrition issues.


  1. Consumers have high expectations for online experiences and will abandon retailers who disappoint. 61% want brands to improve experiences and products. Marketplaces lead in experience.


  1. Delivery speed and convenience are top priorities, but sustainable options are rising in demand. 46% of shoppers have used eco-delivery, up from 43% in 2022.


  1. Social commerce is on the rise with 53% planning to shop more on social platforms. 39% want social-specific deals and discounts to drive purchase.


  1. Price remains the top priority, with convenience, reviews and ease of returns all influencing purchase choice. 53% would switch to direct brand sites for better pricing.


  1. Sustainability and ethics matter more than ever. 52% have changed habits due to environmental concerns and 59% don't think companies are doing enough on sustainability.


  1. The world is digitizing - 45% want digital, instantly downloadable products. 23% have purchased in the metaverse, while 45% are interested in post-death consumerism.


  1. Gaming commerce has major potential with 85% of shoppers playing games and 57% spending money on games. 49% are interested in buying real products in-game.


  1. Innovations like cashless stores, voice commerce and VR are advancing, but still early stage. Cryptocurrencies are wanted by 44% as a payment method.


  1. Subscriptions have plateaued at 56% uptake, but automated reordering is niche. AI will increasingly influence recommendations and purchasing.


  1. Consumers believe brands should be more innovative in using digital technology for shopping, indicating significant room for improvement and growth.


Report: the future shopper, 2023 edition