What: The latest report from PwC revealed that customers are eager to return to shopping in-store for the experience while also continuing to shop online for deals and more transactional purchases.

Why it is important: As consumers become more mindful of how and where they spend, retailers and brands need to be smart about marketing products that are in stock with lower inventory levels.

When consumers were asked where they shop, in-store shopping topped the list at 43%, followed by using mobile devices at 34%, then computers at 23%. Additionally, 43% of consumers don’t plan to increase online shopping in the next six months, down 50% in comparison to last year’s study by PwC.

Although 69% of the respondents stated that they intend to cut back on nonessential spending over the next six months, there were two exceptions for ESG practices and the luxury segment.

70% of respondents said they were willing to pay more for local produce and goods made by a company known for ethical practices. Additionally, the survey found that 26% of respondents plan to spend the same amount on luxury goods.

ESG and responsible spending saw a big uptick this year in comparison to previous studies. As consumers are trying to find ways to cut back, they are spending their money more responsibly as ESG becomes more important to them.

PwC research shows shoppers seeking in-store experience