Consumer Spending Trends — 2023 Edition
Forrester eCommerce
SEPTEMBER 8, 2023
Inflation is rampant, and beleaguered consumers are reeling from high prices. Has The Economy Got You Down?
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Forrester eCommerce
SEPTEMBER 8, 2023
Inflation is rampant, and beleaguered consumers are reeling from high prices. Has The Economy Got You Down?
Retail TouchPoints
FEBRUARY 1, 2021
The landscape of commerce and delivering customer experience changed dramatically over the past year, as millions of shoppers found health, safety, social distance and remote work taking center stage in their daily lives. More than one-third of consumers now shop online each week, up from 28% pre-pandemic.
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How Retailers Are Transforming Customer Experiences with Data & AI
Turn Payments Into Personalization: Unlock the Value of Transaction Data
lateshipment
APRIL 28, 2024
Stands for the increasing and ever-changing customer expectations with your business and the answer of meeting or rather exceeding these expectations stands for what one would call ‘ a great customer experience ’. The Need To Focus On CX In Today's Business Landscape Customer demands are never the same.
Retail TouchPoints
MARCH 6, 2024
Returnless refunds are improving the almighty customer experience, and in turn, their potential customer lifetime value. Image courtesy Ryder According to Ryder’s 2023 ecommerce consumer study of 1,077 U.S. Of course, no good deed goes unpunished.
Retail TouchPoints
DECEMBER 13, 2023
After years of lockdowns and digital-driven behaviors, consumers’ actions have shown how crucial the store experience is to how they shop and interact with brands. Retail TouchPoints asked experts across the store design, experience and technology realms to share the trends they believe will drive brick-and-mortar innovation.
Forrester eCommerce
MARCH 28, 2024
As is often the case with poorly understood tech that promises to change the world, consumers worry about its ethics and human impact. Yet a vast majority of these skeptics will use (and love) genAI during 2024, whether they know it or not. Like it or not, know it or not, genAI will seep into […]
Retail TouchPoints
NOVEMBER 17, 2023
The letdown customers experience when their orders don’t arrive on time, or at all, results in uncertainty and distrust that’s difficult — if not impossible — to remedy. Retailers can expect that customers will turn to other vendors; once this happens, they’ve lost both the sale and the customer’s trust and loyalty.
Retail TouchPoints
MARCH 4, 2024
The customer experience is paramount to the success of today’s retailers. This includes enhancing in-store inventory, delivery services and even the personalization of customer service. However, when it’s time to check out, how do payment options factor into that customer experience?
Retail TouchPoints
MARCH 12, 2024
The future consumer is a #mood. By now, it’s a given that consumers expect personalized brand interactions and offerings, but it’s not just functional benefits they’re after. The most successful brands will connect emotionally to their customer base – and give them space and permission to experience a whole spectrum of feelings.
Forrester eCommerce
MARCH 11, 2024
European consumers are forming four distinct groups with regard to how their consumption habits impact both the environment and their daily lives: Country-Level Stereotypes No Longer Apply: Southern Europe Leads […]
Retail TouchPoints
JULY 11, 2022
If we were to sum up what brands need to know about Gen Z customer experiences preferences (and employee experience preferences) in a few words, it would go something like this: they’re different. Tip #1: Seamless and efficient experiences are a must. Revolutionary even. Tip #4: Strong brand values are make-or-break.
Retail TouchPoints
SEPTEMBER 7, 2022
Brands, in their never-ending quest for relevance, must dive deep into human experiences, connecting with consumers at an emotional level. Each employee or consumer must feel that they are part of something bigger than themselves. What can you show, tell and teach the consumer? Purpose-Driven Design. ??The
Forrester eCommerce
MARCH 15, 2022
Luxury brands continue to grapple with their evolving digital go-to-market strategies in the face of ingrained traditions, placing a premium on the in-store customer experience. Year on year, Forrester’s consumer surveys show that luxury consumers are more digitally mature than their mainstream counterparts.
Retail TouchPoints
JUNE 29, 2022
Direct to consumer, that is. That means they are thinking more holistically about the brand experience. Regina Bailey, Senior Director of Retail Strategy for Menasha, chatted with Andrew Gaffney about the hot trends and topics guiding CPG investments. CPG brands are looking to go DTC.
Forrester eCommerce
OCTOBER 22, 2020
One of the things I was most looking forwards to in 2020 as I returned to focus on our European consumer research was CX EMEA. I’ve always enjoyed Forrester events, both as a customer more than a decade ago, as an analyst presenting, and as a research director acting as MC. It’s a chance to […].
Retail TouchPoints
AUGUST 17, 2023
The latest Consumer Price Index (CPI) data highlights a significant deceleration in inflation, now standing at half of last year’s peak. This moderating trend in inflation is an encouraging development, but it is not without its caveats, particularly within the dynamic and complex terrain of the retail and consumer goods industries.
Retail TouchPoints
FEBRUARY 9, 2022
From ordering groceries to meeting new people, the convenience and speed with which we can do almost anything is extraordinary — and it isn’t something consumers are going to give up. But that doesn’t necessarily mean they’re seeking the same experiences as before. Blurring boundaries: physical vs. digital.
Retail TouchPoints
APRIL 26, 2024
In today’s market landscape, ethical, political and environmental considerations increasingly sway consumer purchasing decisions, particularly when it comes to packaging. From exaggerated health claims to misleading descriptions of ingredients, deceptive labeling erodes consumer trust and undermines brand credibility.
Retail TouchPoints
JANUARY 2, 2024
To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts ( 77% ) and loyalty program points ( 61% ), according to Retail TouchPoints research. However, a Deloitte survey reveals that consumers’ loyalty program preferences and expectations are evolving.
Forrester eCommerce
FEBRUARY 7, 2024
2023 was a confusing year: the consumers blew cold, and the economy blew hot. The recession-to-be did not materialize, and the economic outlook wasn’t half as bad as consumers would have you believe. Yet notes from the post-pandemic blues keep wafting in the air no matter the macroeconomic drumbeat.
Retail TouchPoints
FEBRUARY 12, 2021
With COVID-19 case counts declining and vaccination efforts underway, eager consumers and retailers are both looking hopefully toward a future return to normal. The pandemic has forever altered consumer behavior, and this year in particular consumers find themselves in a kind of limbo — hope is on the horizon, but “normal” isn’t here yet.
Retail TouchPoints
MAY 3, 2023
Let’s dive straight into it and unriddle the mystery of creating modern, highly personalized customer experiences while increasing performance in the cookieless future. Identifying customer trends and behavior required analyzing data in volume and speed that were beyond the capabilities of their in-house teams.
ChannelAdvisor
NOVEMBER 8, 2023
What do consumers want? Our 2023 Online Consumer Behavior Global Report covers the trends shaping global e-commerce today with survey findings (in partnership with Dynata) from over 6,000 consumers worldwide. German consumers are among the heaviest marketplace users, as 83% regularly visit multiple marketplaces.
Retail TouchPoints
APRIL 21, 2022
Retail industry professionals know how vital it is for them to stay abreast of the latest consumer and societal trends. Social Commerce Strategies Consumers are embracing shopping as a social activity, whether it literally occurs on a social platform or reflects their membership in a community of like-minded individuals.
Retail TouchPoints
OCTOBER 24, 2023
Culture and Community are Core to Success The idea of building community around a brand has firmly moved from “new trend” to “necessity,” particularly for brands targeting younger consumers or playing in ultra-competitive categories. We lean into a lot of trending moments, games that are launching and cultural moments.”
Retail TouchPoints
APRIL 17, 2024
This trend isn’t surprising considering how much time we spend online searching for friends, amassing followers and counting likes. Rather than chasing the obvious trends everyone else is pursuing, we dig deep into the human psyche to uncover the unmet consumer needs yet to be served by brands. So why does this matter in retail?
Forrester eCommerce
APRIL 15, 2024
Learn the five most common barriers impeding widespread customer adoption of sustainable offerings and how to encourage sustainable behaviors among B2C buyers.
Retail TouchPoints
JUNE 1, 2022
There are 10 Trends unfolding before us right now, very much worth watching. Consumers are learning that the prices retailers charge for items purchased online are actually higher, and delivery to home can come at a cost of $15 to $20 all in. The fact is, when it comes to what’s ahead for retail, no one really knows. BOPIS is growing.
Retail TouchPoints
NOVEMBER 3, 2021
Well, the video sharing app is rapidly changing the face of discovery opportunities and influencer marketing, and instantly improves the customer experience in the world of cross-channel retailing. The first step is to use the right hashtags according to location and trending videos by category, which you can find on the “Discover Tab.”
Forrester eCommerce
SEPTEMBER 23, 2020
If you’ve been following my blog, you’ll know that we’ve been measuring precisely how the emotional toll of the COVID-19 pandemic is influencing consumer appetite for commercial exchange — we do this by applying Forrester’s Consumer Energy Index, our data-driven framework that captures how ready and willing consumers are to reach out to brands.
Retail TouchPoints
OCTOBER 4, 2023
In response to evolving consumer behavior, many retailers are pivoting from malls and large-format stores in city centers to neighborhood locations that aim to serve the work-from-home population. Not surprisingly, many have found the data points to residential enclaves in and around cities where consumers live.
Retail TouchPoints
SEPTEMBER 1, 2022
Desire Company CEO Eric Sheinkop discussed the survey results with Retail TouchPoints : Retail TouchPoints (RTP): What’s the significance of the fact that so many consumers doubt influencers even use the products they’re recommending? It’s mental exhaustion for consumers and also a lot of money wasted by marketers.
Forrester eCommerce
JULY 1, 2021
Since the onset of the COVID-19 pandemic in the US in March 2020, we’ve been tracking precisely how the pandemic and related crises have taken an emotional toll on consumers by applying Forrester’s Consumer Energy Index, our data-driven framework that captures how ready and willing consumers are to reach out to brands.
MagentoBrain
FEBRUARY 21, 2023
Applying AI to digital marketing can effectively help optimize the consumer experience, increase consumers' favorability for the brand, and directly affect the brand's revenue. The following will describe the seven major marketing trends in 2023 for readers, as well as six tool applications that marketers cannot ignore!
iVend
MARCH 17, 2023
Ask any retailer and they’ll tell you that an enhanced customer experience is at the top of their ‘must do’ list. Improving customer experience is the key to winning new customers, keeping existing ones happy and bumping up revenue and profit. iVend helps retailers analyse data for an enhanced customer experience.
Forrester eCommerce
OCTOBER 27, 2023
It’s that time of year. The leaves turn color. So do the cups at Starbucks. And retailers lick their lips in anticipation. The media is already agog with all kinds of predictions about the holiday — some surprising, some banal, and some downright wrong. I’ve done the clicking and the reading and wheat-from-the-chaff-separating so you […]
Retail TouchPoints
JANUARY 12, 2023
New to this year’s event is the Consumer Product Showcase , offering SMB brands the opportunity to show off innovative customer-facing products. Get the Skinny on 2023 Trends. Additionally, Lowe’s Marvin Ellison will be honored with the NRF 2023 Visionary Award. Taking place January 15-16 from 10 a.m.
Retail TouchPoints
JANUARY 23, 2024
It’s still too early in the year to answer this critical question, but there were some clear, overarching themes that emerged from Big Show sessions, booth campaigns and conversations, indicating that retailers may be investing in the innovation they need to win consumers’ hearts, minds and wallets. The top five themes include: 1.
Retail TouchPoints
NOVEMBER 3, 2021
Buzek, who has studied and quantified retail technology for decades, shared the top 10 contactless trends to watch for in the coming months and years. margin points when their customers’ journeys are not optimized, but when they are optimized, they can recover about 70% of that margin loss,” explained Buzek.
RETAIL MANAGEMENT SOFTWARE
JANUARY 16, 2024
As we step into 2024, the retail sector is undergoing significant transformations in technology, supply chain dynamics, and consumer behavior. The initial crucial step involves examining current trends and formulating adaptive strategies. Here are the top innovative retail trends to watch in 2024.
Forrester eCommerce
NOVEMBER 30, 2023
With UN Climate Change Conference COP28 starting today in Dubai, increased media and activist attention on the implications of climate change is shaping consumers’ perceptions of and attitudes toward environmental sustainability.
Digital Doughnut
FEBRUARY 17, 2023
The arrival into the third decade of the 2000s has been anything but smooth sailing for businesses and their customer experience (CX) departments.
Retail TouchPoints
JULY 27, 2020
Earlier this year, we released a report, titled “The Best Vision is Insight,” outlining our predictions for the top retail trends of 2020. Now, the newfound immediacy of the trends has, if anything, made them more insightful. Here’s a list of the original five trends with additional thoughts on their relevance today.
Sailthru
MAY 12, 2023
From streaming subscription services to gaming to podcasts, consumers have an endless choice of options and platforms for consuming content. Success in the media and publishing industries is not only driven by giving customers great content but by delivering an exceptional customer experience.
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