Consumer Behavior

Consumer behavior requires balancing act for retailers

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January 31, 2023

Consumer behavior, which includes hopping between online and in-store shopping seeking the best value and experience, is going to require a new channel balancing act for retailers.

That's a prime finding of the "Connected Retail Report," from CI&T, which reveals consumers' evolving attitudes and expectations for ominichannel shopping.

The report also named retailers to watch in 2023 and the list includes Ikea, Best Buy and Petco, according to a press release on the report.

Consumers are shopping digital and physical channels at almost identical rates, evenly splitting their time between online (48%) and offline (52%) shopping, however, the vast majority (86%) of respondents have the same expectations for both retail worlds, according to the report. Consumers indicated they have highly similar desired capabilities for online and brick-and-mortar stores with reliable in-stocks, easy returns and efficient shopping journeys being the most valued aspects of the user experience.

"Every response to our consumer survey indicated a desire for a customer experience that is convenient, efficient and aligned with current shopping habits," Melissa Minkow, director of retail strategy at CI&T and report author, said in the release. "Now it's up to retailers to build services that best accommodate those preferences while building the right bridges between channels to incentivize simultaneous use."

Additional findings include:

Those polled overwhelmingly ranked delivery as the most important fulfillment option. Consumers are almost six times more likely to order an item online for delivery than pick it up via curbside or via BOPIS, reinforcing the idea that consumers are looking for efficiency and convenience.
81% have not yet shopped in the metaverse and 45% indicated they could never see themselves shopping in it.
59% are excited by the idea of a retailer using their preferences and shopping history to personalize the shopping experience. Digitally, the top three aspects consumers would like to see personalized on a retailer's app or website include: showing the closest store based on location, offering discounts on products bought regularly and sharing product suggestions based on previous purchases.

The report listed the following retailers as those to watch in 2023: