Smart and Conscious: the profile of new consumers

Retailers
Will retailers let shoppers lead the way?

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Less shopping trips and more on the spot purchases, trying to find what makes their life easier and what respects their values is the new way consumers shop. We are not talking only about Gen Z, young people at college or first university years, but also about Millenials (born in 2000), Gen X (born in the 90s) and Baby Boomers (born in the 80s).

The new trend is to buy on the go and multiple times per week, not without the due background checks though. Shoppers are now well informed, do plenty of research and want their product to be in line with their values.

As per IBM report ‘’Meet the 2020 Consumers driving Change’’, product value is now as important as personal values when shopping. To make the right choice, consumers now have specific demands that need to be met in order to finalize the purchase. They look specifically at: price, company values, delivery options, productions’ methods and environmental impact.

Source: IBM Report

It is critical that brands and retailers can respond to these changes in shopping behaviours quickly and effectively to become shoppers’ favourite and trusted businesses. 

Consumers’ busy lives and new way of purchasing by micro-moments means they are looking for speed, availability and flexibility together with two-way communication with the business. They want to be always informed and eligible to talk to the retailers, especially for order status, delivery times and the possibility of returns.

Gen Z is certainly the most active and personally involved in this new purchase mode but it is being quickly followed by the slightly older generations that, for now, have a stronger purchase income. Gen Z only, as written by hubspot, is the most passionate when it comes to buying products from brands that align with their values. The study found that 45% of Gen Z have boycotted a business and 36% enjoy buying products that display their social and political beliefs.

The key is to get ready to offer a frictionless, speedy and based on needs experience from buy online to ship to home and if anything to start foreseeing what customers demand will be shaped as. Retailers that make this process the easiest experience possible will ultimately win, says 5wpr in its latest report.

The omnichannel experience needs to be based on technologies that allow tighter integration between business functions to effectively address consumer expectations of buying and receiving goods anytime, anywhere and the way they want it, respecting their beliefs. Businesses can’t be blind and have to take actions to fulfil the new shoppers’ requirements. They don’t shop only with their devices but also with their conscience. They give priority to greener choices, they check environmental impact, and are conscious of the importance of sustainability

As shoppers become product and technology savvy and have at their disposal a wide range of choices, they will only select the best fit with their expectations and personal values. The ‘’Reshaping the last mile in a shopper-led retail world’’ live webinar on April 5th will touch on these and more. Click here to join the talks.

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