Value for money is a top priority for shoppers this year, with 67 per cent suggesting it has become more important since the start of the pandemic, according to Sweden’s Klarna Bank, which surveyed over 4,000 consumers across Europe, the United Kingdom, the United States and Australia to understand how shopping behaviour has changed over the past 12 months.
It is followed by promotions and deals (60 per cent), a good reputation and trustworthiness (60 per cent) and having a wide range of products available (58 per cent), perhaps fuelled, in part, by shortages on the shelves earlier in the year, a press release from Klarna said.Value for money is a top priority for shoppers this year, with 67 per cent suggesting it has become more important since the start of the pandemic, according to Sweden's Klarna Bank, which surveyed over 4,000 consumers across Europe, the United Kingdom, the United States and Australia to understand how shopping behaviour has changed over the past 12 months. #
But, while these ‘non-negotiables’ are consistent across the board, Klarna’s research reveals subtle differences in the priorities and preferences of five modern shopper tribes that alter the way brands and retailers should engage with them.
These suggest retailers should shift away from the popular demographic-based approach to marketing and consider passions and personality types instead.
The survey report, titled ‘Clicks and cliques: understanding modern shoppers’ was launched recently.
Over half (55 per cent) said they are more open to trying new brands now than they have been previously—more than any other tribe. The tribe of savvy fashionistas, earning less than they would like to, regularly seeks inspiration online and look for hacks to help them get the best products and deals.
Savvy Fashionistas are most likely to buy more from brands and retailers that offer promotions and deals (45 per cent) and that have a wide range of products available (45 per cent).
They’re also most likely to consider it important for brands or retailers to offer flexible payment options (36 per cent), which encourage them to shop regularly (33 per cent) and buy more (35 per cent).
Conscious consumers are the only tribe to rely more on brand or retailer websites for inspiration than family or friends, with 36 per cent ranking them as a top source, perhaps due to a need to validate information themselves.
Trustworthiness and a good reputation are more likely to encourage Conscious Consumers to shop regularly with a brand or retailer—with 42 per cent reporting this effect—more than any other tribe.
Over half of respondents said an easy returns process and next or same day delivery options have become more important this year.
ALCHEMPro News Desk (DS)
marketing@alchempro.com
