Mon, 17 Aug 2020 14:25:24 GMT
Even as much of the world is (re)opening up, shoppers are indicating that there are some changes brought by the pandemic that will persist, according to a new global study from Momentum Worldwide, the world’s first global experiential advertising agency. The study reveals five key changes to consumer behaviour that retailers must understand and adapt to if they want to be successful in this new environment.
Recent forecasts predict trillions of pounds in losses for retailers. With an increasing number of brands folding due to the pandemic, in order to survive and succeed, it’s crucial for retailers and brands to understand the new consumer behaviours and attitudes that are changing the industry.
“With the retail sector being in a constant state of flux since Covid-19, we felt it was important to get a sense of what retailers need to do to have a fighting chance at surviving the pandemic,” according to president of Momentum UK, Luke D’Arcy.
Five key findings revealed by the study include:
“A provocative insight we found is that while shoppers admit they are likely to continue purchasing online, the vast majority miss the in-person experience,” said president of Momentum UK, Luke D’Arcy. “83% of study respondents said they miss shopping time with family and friends and 79% said they miss being able to touch and feel products. This suggests that it’s extremely important for retailers to continually keep a pulse on shopper attitudes and behaviours as they continue to morph, depending on consumer safety and comfort.”
Find the full report here.view more - Trends and InsightMomentum, Mon, 17 Aug 2020 14:25:24 GMT