Report: the future shopper, 2023 edition
Articles & Reports
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Oct 2023
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Wunderman Thompson
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:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- The world is digitizing - 45% want digital, instantly downloadable products. 23% have purchased in the metaverse, while 45% are interested in post-death consumerism.
- 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.
- Innovations like cashless stores, voice commerce and VR are advancing, but still early stage. Cryptocurrencies are wanted by 44% as a payment method.
- Subscriptions have plateaued at 56% uptake, but automated reordering is niche. AI will increasingly influence recommendations and purchasing.
- Consumers believe brands should be more innovative in using digital technology for shopping, indicating significant room for improvement and growth.