An Analog Shopper in a Digital World
Why? Trend drivers
- Convenience of shopping anywhere and on a 24/7 basis (hyper-connection).
- Access to diversified and interactive digital catalogues, sometimes allowing customization.
- Flexible source of price comparison, product availability, and reviews.
- Participate in social media campaigns.
Who? Consumer targets
- Millennials are the key age demographic for online commerce, with price being perceived as the greatest benefit of online shopping.
- Shoppers with larger household sizes tend to shop online more often for groceries.
- China, the US, and the UK are the top e-commerce markets, accounting together for more than $1tn in sales in 2015.
How? Innovation implications
- Develop a robust omni-channel strategy in order to reach new audiences and offer consumers a seamless experience in the way they buy their products online.
- Invest in e-commerce subscription business models as a method of obtaining recurring revenue and improving shoppers’ loyalty.
- Interact with consumers via social media channels and incorporate high-tech solutions into product packaging.
Canadean’s “TrendSights Analysis: Digital Consumption” explores how the digital world is shaping consumers’ preferences and choices, especially in terms of added flexibility in comparison with traditional in-store shopping. Market data reveals that global retailers are expected to see more sales coming from the online channel, which demonstrates how important it is for companies to diversify their sales channels.
Price: $3,450 (Single User License)
Published: Sept 2016
Report Format: electronic pdf