Shopper expectations have changed like never before, and as we enter the third year of the pandemic, shoppers are beginning to focus beyond the immediate fear and danger presented by the virus – but what does this mean for the brands and retailers that are trying to stay ahead of this post-pandemic behavior change?
One thing that we know for sure, is that no one can predict the future, but the latest NielsenIQ research predicts 4 possible pandemic trajectories (diminishing, stable, or worsening) and how shopping behavior could change with each scenario. To help, we’ve listed each prediction below, and what opportunity you can take from it.
1st prediction – Caution and uncertainty
Understandably, most of us are still practicing some level of caution in most things that we do, especially when it comes to our purchasing decisions. Here, it is important to fully understand shopper data so that you can re-invent your offerings to quickly match the changing needs and priorities of the 2022 shopper. To overcome this, brands and retailers must offer personalised shopping experiences that respond to any worries or concerns a shopper may have.
2nd prediction – A cost-conscious mind set
Our second prediction is one that most certainly has come as a result of the uncertainty that shoppers and businesses have faced over the past two years. Shoppers are now spending their money on products that truly matter but also on products that promote health, wellbeing, sustainability and social wellbeing. However, there is no one way that shoppers are managing their expenses, so understanding what works best for each shopper segment will win constraint wallets. Brands and Retailers need to ensure they can explain and demonstrate the value of their products to the shopper to help them compare against other products in your category.
3rd prediction – At home focus
The last two years has reshaped the lives of everyone in one way or another, but the biggest change has been the increase in the amount of time that we spend at home, and surprisingly or not, it is a behavior change that is likely to take some time – if ever, to go back to a pre-pandemic “normal”. People are now prioritising at-home experiences rather than out-of-home spending such as international travel and eating out. To succeed, brands and retailers need to ensure that their products suit the at-home lifestyle of their shoppers, this can be done by using effective digital product content and imagery to help shoppers visualise products in a home environment.
4th prediction – Omnichannel shopping
Our final prediction, and arguably the most significant one to note, is the number of shoppers that now shop online rather than in-store. By 2040 it is estimated that 95% of all purchases will be made online, however, many shoppers are now adopting a more hybrid/omnichannel approach – shopping in person for lighter items such as fresh fruit and veg, but shopping online for heavier, bulky and repeat purchases. The opportunity here is that brands and retailers can retain newly online shoppers by using an easy-to-use platform that offers shoppers an enhanced and convenient eCommerce experience that feels as close as possible to shopping in the real world. A winning strategy will embrace the fact that shoppers are adapting to a more flexible approach to purchasing FMCG goods, and with it, brands and retailers must also mirror that flexibility.
To summarise, agile brands and retailers will stay ahead of the competition. Brands and Retailers must ensure that they are continually monitoring product page performance to in turn allow them to respond fast to market changes. Drive product discoverability, retain new online shoppers with enriched product content and ensure you stay on top of the curve.
Want to access more exclusive insights? Join our upcoming webinar that will dive into the ongoing impact of COVID-19 and more on the behaviours and trends you can expect to see from the 2022 shopper.