Consumers want hybrid shopping, sustainability, purpose-driven brands

Consumers also expect companies to cater to their needs and live up to their social and environmental responsibility claims, the survey, covering 19,000 respondents across 28 countries in September 2021, found.

Purpose-driven consumers, who choose products and brands based on how well they align to their values and lifestyles, now represent the largest segment (44 per cent) of consumers.

Retailers and brands must align their offerings and capabilities with these new consumer expectations that have emerged from the crucible of COVID, the survey concluded.

The survey found that after spending much of the past two years in a virtual-first world, consumers now see digital tools as a necessary part of the shopping experience. They expect stores to be digitally enabled and for brands and retailers to support hybrid shopping journeys, which blend physical and digital channels.

This is especially true for Gen Z, which uses hybrid shopping more than any other generation.

Hybrid shopping is the primary buying method for 27 per cent of consumers and 36 per cent of Gen Z—more than any other generation.

The pandemic also shifted consumer views on sustainability. Today, consumers across age groups are looking for brands and retailers to help them shop more sustainably.

Nearly 3 in 4 (72 per cent) consumers rely on stores as part of their primary buying method. More than half of retail (58 per cent) and consumer products (55 per cent) executives are focused on building agility to adapt faster to changes in demand, the survey found.

In 2022, retailers and brands must shift their sustainability strategies and cater their shopping experiences to meet evolving consumer demands, the survey report added.

ALCHEMPro News Desk (DS)