As inflation and financial uncertainty persist, shoppers are adjusting their purchasing patterns and embracing cost-cutting measures.
Sixty-nine % of worldwide shoppers have altered their non-essential spending habits. That’s in response to PwC’s “February 2023 World Shopper Insights Pulse Survey” report (PDF). PwC’s twice-yearly survey goals to watch shifting shopper tendencies worldwide.
For the February report, 9,180 shoppers have been polled throughout 25 nations: Australia, Brazil, Canada, China, Egypt, France, Germany, Hong Kong SAR, India, Indonesia, Eire, Japan, Malaysia, Mexico, Philippines, Qatar, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Thailand, United Arab Emirates, United States, and Vietnam.
The survey respondents have been not less than 18 years previous and will need to have shopped on-line not less than as soon as within the earlier yr.
The report identifies 4 shopper segments.
Probably the most pessimistic group (42%) anticipates a substantial discount of their retail spending throughout all classes. For instance, they’re much less inclined to journey and extra prone to change to extra inexpensive manufacturers and even forego utilizing sure objects they sometimes depend on.
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In 2023, shoppers nonetheless desire purchasing in-store, with 43% of respondents selecting it as their hottest channel within the final 12 months. On-line purchasing by way of smartphones ranked second in reputation at 34%.
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Customers need a mix of bodily and digital experiences when purchasing in-store.
When requested to prioritize elements that will improve their in-store purchasing experiences, 50% of respondents ranked entry to educated and useful gross sales associates as the highest issue. Moreover, 42% of respondents expressed a powerful choice for utilizing self-service checkout kiosks, whereas 41% favored utilizing a retailer’s web site or cell app in-store to browse for particular merchandise.
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The report additionally reveals that 43% of shoppers plan to extend on-line purchasing within the subsequent six months.
