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In-Store Shopping
Pros: Know exactly what you’re getting - especially for food, clothing, equipment
Cons: Health concerns/virus exposure
Online Shopping
Pros: Safe & Convenient
Cons: Product quality unpredictable, long delivery times, overwhelming selection and unable to touch/feel
Retail Categories Most Impacted Most By COVID
Consumer purchases are focused on essentials -- food, beverages and household products primarily. Apparel, electronics and exercise equipment are also being bought, however at a smaller rate. They also differ in where consumers prefer to purchase them, with most essential purchases in-store.
Weekly Consumer Spending by Category
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The Retail Pivot
- Staying home results in new direct to consumer and bartering shopping models.
With continued economic fallout, consumers may turn to simpler pleasures & small indulgences.
Technology Saves Shopping
- Technology challenges what we know as the 'store.'
- Malls are emptying, innovative vending machines and drones deliver products
Look for new standards in contactless shopping, personalization and omnichannel experiences.
Greener Habits
- Consumers are spending more time outside & with nature
- They desire less waste and more sustainable choices
The longer we're home, the more likely this may become permanent change.
