Consumer Trends 2022: Which Recent Changes Brands Can Expect to Stick Around
Over the last couple of years, stores accelerated their digital transformations to survive. Some of these changes were short-term, while others will have a lasting impact. Now, as safety mandates are being lifted and the world is moving into a new normal, brands and manufacturers are wondering what consumer trends 2022 will offer. Which trends are here to stay and what new technologies can we expect?
Click and Collect
Even before the pandemic, click and collect technology like buy online, pick up in-store (BOPIS) and curbside pickup was trending upwards. During the 2019 holiday season, BOPIS sales were up an average of 35 per cent. It is estimated that by 2025, 10 per cent of all sales will be fulfilled by click and collect.
For consumers, BOPIS allows them to see the product before taking it home, avoid shipping costs, and return the product instantly. For businesses, it gives them an edge over their competitors while catering to younger demographics like millennials and zoomers. Consumers who use BOPIS also tend to make additional purchases either online or while picking up items in-store.
Personalized Shopper
A survey from early in the pandemic found that 53 per cent of consumers were willing to make their personal data available if it helped track an infection cluster. Nearly two years later, it seems that these data-tracking measures have helped the public build trust in sharing their information.
A more recent survey found that 65 per cent of shoppers are willing to share their data with retailers and brands. However, in exchange for their personal information, they want a better shopping experience. The best way brands can leverage this newfound treasure trove is to deliver more personalization to customers. This can be a real boon for the industry considering 90 per cent of customers say a consistent personalized shopping experience influences the amount they spend.
Payments Going Mobile
Another trend that the pandemic has helped stick is contactless, online payments. Mobile and smartphone payment options like Apple Pay, Google Pay, and Samsung pay have grown rapidly.
According to Payments Canada, during the pandemic, debit and credit card use declined by 11 per cent and 9 per cent, respectively. Meanwhile, the use of card alternatives skyrocketed, generating $244 million in payment transactions in 2020, an increase of 115 per cent in volume and 125 per cent in value from 2019. In all, nearly a third of Canadians made a purchase using mobile payments or digital wallets.
Stores only accepting cash, debit, or credit, could be missing out on a lot of customers. In fact, nearly half of customers will abandon a purchase if they can’t use their preferred method of payment. And others won’t even consider a business if they don’t have the option of online payment.
We Can Help
Storesupport can help you navigate the consumer trends 2022 will bring with our national, industry-leading services. Through a range of online, in-store, automated retail, and commercial solutions, we help brands and merchandisers modernize and evolve according to the changing needs of customers.
To learn more call 1-877-421-5081 or visit www.storesupport.ca.
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