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How Can Retailers Capitalize on Consumer Shopping Demographics? Recent research from e-commerce consulting firm 2 Visions delves into consumer shopping habits, revealing intriguing insights into preferences across generations and regions. Anil Patel "Young customers too would prefer to have shops nearby in the vicinity they live in. While malls continue to serve as social hubs for entertainment, the overall appeal may diminish as more retailers will start to embrace alternative formats that the customers are preferring." David Biernbaum "The obvious response is to put more retail stores in areas where Gen Z’s reside, for example, large apartment complexes, and in university towns. I also advise promoting demographically. Know whom your consumer is, and geo-target your advertising, accordingly. Db" Neil Saunders "The affinity Gen Z have to physical shopping is important and should be noted: there is a great deal of garbage written about how young consumers will all be shopping in virtual worlds in the future and none of it is grounded in evidence – it’s all hyperbolic speculation that ignores human nature." Read the full article here -> https://lnkd.in/e5Zw-Wcb #GenZ #ShoppingRetail #RetailWire

Partnered | Choco Up – a company that helps e-commerce brands grow and scale their business with fast, flexible and founder-friendly revenue-based financing – has studied consumer intentions and behaviours to find out what drives purchasing decisions in today’s retail environment beyond price. Choco Up asked more than 500 shoppers what they love about their favourite retailers – and why they avoid others. The results were surprising – and uncovered some intriguing new shopper personas that go beyond just age and gender demographics. The research has been collated in a report – Delighting the 2024 Shopper: The Do’s and Don’ts of Keeping Customers in a Tough Economy. Read more on Inside Retail – and download the report from there.

Decoding Your Customers: How Demographics Drive Retail Success Gone are the days of one-size-fits-all retail experiences. Today's consumers are a diverse bunch, with shopping habits shaped by factors like income, age, and location. So, how can retailers cater to these evolving demographics and win over customers? This article from RetailWire dives into the power of understanding your target audience. Here are some key takeaways: The Rise of the "Click-and-Mortar" Shopper: Forget the online vs. in-store debate. Many shoppers expect a seamless blend of digital convenience and physical interaction. Retailers can win by offering features like voice-assisted shopping or buy-now-pay-later options in-store. High-Income, Urban Advantage: High earners tend to have more shopping options within a short distance, and they favor a hybrid shopping approach. Retailers can target them with loyalty programs and omnichannel experiences that seamlessly integrate online and in-store shopping. Understanding Income Disparity: Lower-income consumers often face limited shopping accessibility. Retailers can bridge this gap by strategically locating stores and offering value-oriented options. Generational Preferences: Different age groups have unique shopping behaviors. Consider tailoring your marketing and product offerings to resonate with specific demographics. Remember, demographics are just one piece of the puzzle. But by understanding your customer base and their shopping preferences, you can create a winning retail strategy. What are your thoughts on the importance of understanding consumer demographics? How do you think retailers can best cater to different customer segments? Share your insights in the comments below! #retail #consumertrends #omnichannel #retailmarketing #customerengagement

🛒🎯 The Power of #Consumer #Shopping #Demographics: Key Strategies for Retailers! Discover how retailers can capitalise on consumer shopping demographics to drive growth and improve the customer experience in a recent RetailWire article! From understanding generational preferences to catering to diverse consumer segments, learn actionable insights to stay ahead in today's dynamic retail landscape. Key takeaways include: 👥 Generational Shopping Habits: Delve into the unique preferences and behaviours of different generations, from Gen Z's digital-first approach to Baby Boomers' emphasis on in-store experiences. Gain valuable insights into how retailers can tailor their strategies to resonate with each demographic group. 🎯 Personalised Marketing: Explore the importance of personalised marketing in reaching diverse consumer segments effectively. Learn how retailers can leverage data analytics and AI technologies to deliver targeted messaging and offers that speak to the specific needs and preferences of their customers. 🌐 Omni-channel Engagement: Embrace an omni-channel approach to engage shoppers across various touchpoints seamlessly. Discover how retailers can create cohesive shopping experiences that blend the convenience of online channels with the personalised service of brick-and-mortar stores. Read the full article ➡️ https://lnkd.in/e5Zw-Wcb #RetailStrategy #ConsumerInsights #Personalisation #OmniChannel #RetailTrends #KIVALUE

Most consumers identify with one of five food personalities, influencing what they buy and how much they spend. What should a company know about its consumers to help facilitate personalisation? There are demographic basics like income, age, and household size—structural factors that heavily influence what and how much gets in the shopping cart on the weekly trip to the grocery store. But people's relationships with food often matter, too. And those relationships can be diverse, from the person who uses food primarily to live a healthy life to the shopper hoping to save as much as possible. This article is based on survey responses collected monthly since September 2022 from 228,000 adults across 12 countries and shows that independent of demographics, personality has predictive power for what people buy and how much they spend.

In the face of economic challenges and inflation, shoppers are increasingly turning to a range of strategies to moderate their shopping expenses. We recently conducted an extensive analysis of these changes that sheds light on the growing popularity of private label products across different categories and demographics in the US. Shoppers are employing various coping methods to manage inflation and the challenges the economic environment is having on their budgets. Many are combining multiple tactics including shopping at different stores to find the best deals, utilizing coupons and promotions more often, and more. Perceived quality plays a crucial role in determining the likelihood of consumers purchasing private label products. In cases where store-branded options are perceived as equal or superior to name brands, shoppers demonstrate a greater willingness to choose these alternatives. Each marker on the graph below represents a specific category. Contact us today if you want to have more information about this or if you want to know how we can help navigate these changes for your categories through better shopper behavior understanding at scale. #mrx #shopperbehavior #inflation #privatelabel

🤯Did you know that recommerce now makes up nearly a quarter of all merchandise sales? It's a significant phenomenon driven by the conscientious consumers - notably Gen Z and Millennials, who prioritise sustainable choices. Keeping a vigilant watch on the trends set by these younger demographics is crucial, as they often give strong indications of the retail landscape's future trajectory. 🚀 Curious about navigating this growing market and aligning your strategies accordingly? Delve into our latest blog to explore the tremendous growth of recommerce: https://hubs.li/Q02vvQR80

✨ It's less than 100 days until Christmas! Despite the economic uncertainty ahead, younger shoppers are still willing to spend more than before. Conversely, the older demographics are going to be more prudent this coming holidays. Online shopping on e-commerce/marketplace platforms such as Lazada, Shopee and Amazon have always been prevailing but social commerce such as Instagram and TikTok are also growing. That said, shoppers still appreciate immersing themselves into the offline experience during this festivity period. Insights Table wishes everyone a merry shopping ahead! Garick Kea Adelene Ong Fiona Lee Connie Lee Cara Lee Leonard Y. Andrew Lim #Shopping #Christmasshopping #Retail #Omnichannel #Ecommerce #SocialCommerce

With holiday spending inflation-adjusted growth rates projected to be the most subdued since 2010-2011, this Retail Insight Network article is another reminder for #Retailers to use leading indicators to identify the most valuable demographics to target this holiday season. https://lnkd.in/gHbZrHHQ