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The Covid 19 pandemic forced most retailers to close their doors, prompting consumers to explore new ways of acquiring products. As a result, consumer digital adoption increased dramatically, particularly among the elderly, leading consulting firm McKinsey to assert: "we've moved a decade forward in our digital adoption in a matter of days".
Many retailers have risen to the challenge with flying colors, demonstrating their capacity for innovation and agility throughout this period. While many new online and in-store consumer trends have emerged in the retail sector during this tumultuous period, here are three trends that are set to gain momentum in the years ahead:
A global survey of over 25,000 consumers by payment platform Adyen found that 64% would not return to a merchant if they had a negative experience, either in-store or online.
Last year, we saw a sharp rise in retailers' use of appointment scheduling software to enable their customers to schedule appointments for various in-store services, such as personalized shopping sessions, technical support services, or simply to pick up orders placed online. This transition is driven by the public's desire not to have to wait long to enter stores or receive a service.
A survey of 2,000 US participants conducted by Qudini in October 2020 revealed that around a fifth of consumers find in-store appointments useful, while 45% say the same for virtual appointments. A similar survey conducted a month earlier in the UK showed that 14% of Generation Z and millennial consumers prefer in-store appointments, while 11% opt for virtual appointments.
As many retailers have found, consumers who make appointments are much more likely to buy, increase their purchase amounts and remain loyal to the brand. Ultimately, the majority of consumers appreciate a simple, personalized customer journey.
The vast majority of consumers now embrace and prefer an omnichannel approach - indeed, studies have revealed that up to 9 out of 10 customers favor an omnichannel shopping experience. The Covid-19 pandemic has only accentuated this trend. According to Adyen's survey findings, customers who buy in-store spend an average of 41% more when shopping online.
As a result, brands are redoubling their efforts to engage consumers interactively, including sharing live videos and offering one-to-one video appointments. According to Shopify data, customers are up to 85% more likely to buy a product after watching a video about it.
Qudini's survey revealed strong demand for virtual appointments in the US and UK. Nearly half of US consumers believe that virtual services would benefit all types of retail.
Burberry, a luxury brand, offers its customers the opportunity to receive style advice from its team of in-house experts. On their website, customers can book an appointment with a style consultant by choosing a time slot that suits them. This omnichannel experience illustrates how retailers can increase customer engagement and boost sales both online and in-store.
Retailers and consumers are expected to continue to benefit from these omnichannel experiences in the years to come.
Most consumers find themselves working from home, while many brands have been forced to close their stores during periods of confinement. This has led to a growing awareness among consumers of how they spend their money, the companies they buy from, and the impact of their purchases on the local economy.
As a result, we've seen a sharp rise in the number of consumers opting to buy locally from brands and companies they trust. The notions of local purchasing, sustainability and social responsibility have gained in importance. Also according to Adyen, 51% of consumers are willing to go the extra mile to buy from companies committed to charitable initiatives during the pandemic. Similarly, Shopify found that 50% of consumers are willing to pay a higher price for environmentally-friendly products.
While retailers are already facing many challenges, many have recognized this shift in consumer behavior and accelerated their sustainability efforts, or continued to promote initiatives already in place.
Some brands, particularly those in the luxury sector, have adopted clever strategies to keep consumers engaged in physical store environments. During the summer, some followed their American customers to the Hamptons to open attractive ephemeral stores, while others followed their European customers to Provence. In the future, we can even expect the demand for sustainable, localized shopping to continue to grow.
Qudini provides appointment scheduling and virtual queuing software to leading retail brands such as Burberry, Nike, Samsung, Montblanc and Pandora. To find out more about how Qudini can help create successful customer experiences and drive sales in your online and in-store environments, visit qudini.com.
The Covid 19 pandemic forced most retailers to close their doors, prompting consumers to explore new ways of acquiring products. As a result, consumer digital adoption increased dramatically, particularly among the elderly, leading consulting firm McKinsey to assert: "we've moved a decade forward in our digital adoption in a matter of days".
Many retailers have risen to the challenge with flying colors, demonstrating their capacity for innovation and agility throughout this period. While many new online and in-store consumer trends have emerged in the retail sector during this tumultuous period, here are three trends that are set to gain momentum in the years ahead:
A global survey of over 25,000 consumers by payment platform Adyen found that 64% would not return to a merchant if they had a negative experience, either in-store or online.
Last year, we saw a sharp rise in retailers' use of appointment scheduling software to enable their customers to schedule appointments for various in-store services, such as personalized shopping sessions, technical support services, or simply to pick up orders placed online. This transition is driven by the public's desire not to have to wait long to enter stores or receive a service.
A survey of 2,000 US participants conducted by Qudini in October 2020 revealed that around a fifth of consumers find in-store appointments useful, while 45% say the same for virtual appointments. A similar survey conducted a month earlier in the UK showed that 14% of Generation Z and millennial consumers prefer in-store appointments, while 11% opt for virtual appointments.
As many retailers have found, consumers who make appointments are much more likely to buy, increase their purchase amounts and remain loyal to the brand. Ultimately, the majority of consumers appreciate a simple, personalized customer journey.
The vast majority of consumers now embrace and prefer an omnichannel approach - indeed, studies have revealed that up to 9 out of 10 customers favor an omnichannel shopping experience. The Covid-19 pandemic has only accentuated this trend. According to Adyen's survey findings, customers who buy in-store spend an average of 41% more when shopping online.
As a result, brands are redoubling their efforts to engage consumers interactively, including sharing live videos and offering one-to-one video appointments. According to Shopify data, customers are up to 85% more likely to buy a product after watching a video about it.
Qudini's survey revealed strong demand for virtual appointments in the US and UK. Nearly half of US consumers believe that virtual services would benefit all types of retail.
Burberry, a luxury brand, offers its customers the opportunity to receive style advice from its team of in-house experts. On their website, customers can book an appointment with a style consultant by choosing a time slot that suits them. This omnichannel experience illustrates how retailers can increase customer engagement and boost sales both online and in-store.
Retailers and consumers are expected to continue to benefit from these omnichannel experiences in the years to come.
Most consumers find themselves working from home, while many brands have been forced to close their stores during periods of confinement. This has led to a growing awareness among consumers of how they spend their money, the companies they buy from, and the impact of their purchases on the local economy.
As a result, we've seen a sharp rise in the number of consumers opting to buy locally from brands and companies they trust. The notions of local purchasing, sustainability and social responsibility have gained in importance. Also according to Adyen, 51% of consumers are willing to go the extra mile to buy from companies committed to charitable initiatives during the pandemic. Similarly, Shopify found that 50% of consumers are willing to pay a higher price for environmentally-friendly products.
While retailers are already facing many challenges, many have recognized this shift in consumer behavior and accelerated their sustainability efforts, or continued to promote initiatives already in place.
Some brands, particularly those in the luxury sector, have adopted clever strategies to keep consumers engaged in physical store environments. During the summer, some followed their American customers to the Hamptons to open attractive ephemeral stores, while others followed their European customers to Provence. In the future, we can even expect the demand for sustainable, localized shopping to continue to grow.
Qudini provides appointment scheduling and virtual queuing software to leading retail brands such as Burberry, Nike, Samsung, Montblanc and Pandora. To find out more about how Qudini can help create successful customer experiences and drive sales in your online and in-store environments, visit qudini.com.
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