How has the shopping experience changed over the last decade?
A decade is a long time in the modern world. Twitter was embryonic this time ten years ago and no one had even heard of Tinder. The high street was still the primary source of fashion and Donald Trump was just another reality star with a bad tan. Today, it’s fascinating to look back and see just how much has changed in the years since 2008. In terms of consumer shopping experience the differences are significant.
The key changes…
Ecommerce is king
Retail ecommerce sales surpassed $2.290 trillion in 2017 and for the first time ever amounted to more than a tenth of total retail sales worldwide. 48% of Brits now do their food shopping online and, as a result, we’ve seen high street stores forced to adapt. If there was one very key change to note in shopping experience and habits over the past 10 years, it’s how much more of it is now done online.
Customer expectations are very different
The new speedy and interconnected world that technology has delivered means that customers now have much higher expectations when it comes to the brands that they buy from. These expectations are present throughout the consumer buying experience, from how easy it is to find what the shopper is looking for, to how fast something can be delivered. For example, it has become the norm to expect super fast delivery with online orders, so much so that big brands like Amazon are now pioneering same day shipping.
Mobile has changed everything
In the last six months, 62% of smartphone users have made a purchase online using a mobile device. So shopping habits have evolved even further – we not only expect the convenience and cost saving of shopping online but expect to enjoy that on the go too. The increase in mobile adoption is only likely to continue and offers huge advantages for businesses looking to engage with consumers who are keen to buy on the move. By 2019, the number of mobile users in the world is expected to be more than five billion, which is likely to drive further disruption and innovation in how we shop.
Shopping is a much more personalised experience
While internet shopping may have made the experience less face-to-face, the overall trend in consumption has been towards personalisation. From tech that tracks consumer behaviours and offers suggestions as to the next products to purchase, to the development of social shopping, buying items is much less anonymous and more tailored to the individual than it has ever been.
Shoppers know much more
Again, thanks to the internet, shoppers tend to be far better informed about the brands that they’re buying from. Around three quarters of young people, for example, will conduct research on a business before going to a store – so, even for those not shopping online there is much more opportunity to be better informed.
At RG Group we keep a close eye on the evolution of industries such as retail, the way that changes could impact on our industry and the opportunities that exist. Find out more about by giving us a call today.