Driver of Change: Society

To most effectively predict and prepare for future retail leadership, we first assess the most significant drivers of digital commerce change, including societal factors like aging populations, urbanization, shifting attention patterns and more as part of our STEIP methodology.

Drivers of Change: Society

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DRIVERS OF CHANGE

HOW IS SOCIETY DISRUPTING THE GAME OF RETAIL?

HOW IS SOCIETY CHANGING THE GAME OF RETAIL?

 

DRIVERS OF CHANGE

SO HOW WILL SOCIETY IMPACT YOUR ADORING SHOPPERS?

  • AGING SOCIETIES: Aging will erode household wealth, driving demand for affordable quality products, and accessible health products and services.
  • URBANIZATION: As lifestyles urbanize and get busier, the share of time-poor shoppers expands, driving demand for convenience and fast solutions, such as frictionless checkouts.
  • EVOLUTION OF HOUSEHOLDS: As household sizes shrink, consumer behaviors will shift away from both regular cooking and big weekly shopping trips, driving fast and frequent convenience missions close to home and online.
  • EXPERIENCE FOCUS: As consumers value experiences more highly than in the past, more share of wallet will shift away from products. This will fuel shopper preference for retailers moving beyond the concept of product on shelf.
  • HEALTH, WELL-BEING & SELF-CARE: Accelerated lifestyles, growing health awareness and aging will reinforce and create dietary trends, driving demand for healthy products with high-quality ingredients.
  • RESPONSIBLE CONSUMPTION: A more conscious consumer will demand more organic, vegan, free-from, sustainable and traceable products, and develop loyalties with retailers and brands that demonstrate strong credentials. 
  • CONSUMER DIVERSITY: Demand will continue to rise for more diverse products, with migrants (well beyond refugee streams) looking after home region specialties and domestic populations looking for new experiences.
  • SHIFTING ATTENTION PATTERNS: Shoppers are absorbing information in a new way, shifting from a linear attention pattern to the simultaneous use of several devices – reducing concentration spans and patience in the search for information.

 

KNOWLEDGE TO WIN

NOW WHAT WILL IT TAKE FOR YOUR BUSINESS TO WIN?

 

DRIVERS OF CHANGE

WHAT OTHER FACTORS ARE DISRUPTING THE GAME OF RETAIL?

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POWER OF PARTNERSHIP

WE'RE HERE TO GUIDE YOU WITH THE KNOWLEDGE TO WIN.

DIGITAL COMMERCE, DECODED.

<DEFINE/> Plan your retail strategy with market intelligence and forecasting

<DEMYSTIFY/> Optimize your digital shelf execution to drive margin and sales growth online

<DELIVER/> Monitor online performance and results in sales and market share

Understand what’s happening in retail and equip yourself to make the next winning move.

Our client engagement team is standing by with world-class retail insights and solutions to meet your unique state of business. Email us at info@ascentialedge.com.

 

DOWNLOAD OUR FULL FUTURE RETAIL DISRUPTION REPORT

Fill the form below to download our Future Retail Disruption 2020 Report.

Fill out the form below to download our full Future Retail Disruption Report, which includes a deep-dive on the drivers of digital commerce change, the strategies brands and retailers need to win, case studies from market leaders and innovators and more.

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