Download Part 1 of The Retail Paradigm to understand the motivations behind these findings alongside additional insights into receptivity to advertising, brand loyalty, and the changing consumer journey.
More than half of U.S. consumers (51%) now say their online purchasing journey most often starts on ecommerce/retail sites, a figure that rises to 55% for the over 55 age group
Xaxis and Catalyst, in partnership with London Research, conducted a two-part original research study to understand changes in consumer shopping and their impact for marketers. Part One: The Retail Paradigm: The Evolution of Consumer Shopping is available now.
This study, based on a survey of 2000 consumers in the US, and interviews with a range of brands, agencies and retail platforms, examines how shifts in consumer shopping have been shaped by the pandemic. We examine what changes are here to stay as brands and platforms evolve their ecommerce, delivery and retail offerings to meet these changes. The takeaway—a retail paradigm.
Our findings show that the pandemic ushered in a new, shorter customer journey and everything is now shoppable that consumers are being driven by convenience and rapid-delivery services. According to GroupM research, global retail ecommerce will reach $5.4 trillion in 2022, and this will only continue to expand now that the largest retailers in the world have captured the attention of younger shoppers (ages 18-34).
Part 2 is now available!
As the pandemic accelerated new consumer behaviors and market offerings, Part 2 asks, how are brands responding, what barriers do they face, and what further actions should be taken to thrive within this new paradigm?