To most effectively predict and prepare for future leadership, we first start with our STEIP methodology, a fundamental bottom-up assessment of the most significant drivers of ecommerce change across Society, Technology, Economy, Industry, and Policy as well as the evolving shopper expectations and preferences that could impact our performance.
1) PROXIMITY, SPEED AND CONVENIENCE ARE ESSENTIAL
In the future, consumers will be older, less wealthy and live in smaller households, suffering from restricted mobility. At the same time, young urban populations will re-define life priorities, cultivating individualism, cooking less, socializing more, seeking experiences and adopting faster, on-the go lifestyles.
Retailers will respond to both with proximity, convenience and speed-enhancing solutions.
What does it take to win with your adoring shoppers?
- Proximity small-box stores optimized for frequent small-basket missions
- Frictionless shopping environments to enable fast, painless shopping missions
- Curated assortments optimized for small households cooking less and buying convenience
- Fast fulfillment to meet expectations with an on-demand generation that is growing into its prime spending years
2) CONSCIOUS CONSUMPTION IS BREAKING THROUGH
Entangled in fears over an uncertain future, work stress and job market disruption, consumers are re-focusing on the basics of life, prioritizing experiences, health, wellbeing and self-care while considering controlled digital detox. This will lead to a gradual shift of consumer spend towards out-of-home eating, events and services, which retailers will respond to by expanding their ecosystems. As part of their more holistic approach to life, shoppers will open up further to conscious consumption, including concepts like sustainability and ethical supply chains.
What does it take to win with your adoring shoppers?
- Health products relevant to eldery shoppers in need of affordable quality ranges
- Accessible in-store points of care to drive frequency and loyalty as the health burden grows on the elderly and the middle class
- Strong points of health brand engagement to drive online visibility and subscription conversion
- Traceability of products to satisfy consumer demand for healthy ingredients and fair supply chains
3) LOYALTY IS ERODING
As smartphones develop into life management devices and the number of available customer touchpoints multiplies, transparency and choice expand for consumers, undermining traditional levels of shopper loyalty. Yet, smartphone and connected device growth will create unprecedented amounts of shopper data which brands and retailers will leverage to inform real-time product development and personalized targeting in an attempt to restore loyalty.
What does it take to win with your adoring shoppers?
- Strong in-store touchpoints to drive brand recognition and loyalty online and offline
- Tailored ranges supporting curation, differentiation and specific targeted shopper missions for retailers
- Strong content along a range of key digital customer touchpoints to intercept and influence shopper journeys
- Partnering with retailers to secure shopper insight and build visibility to be considered in the process of initial online basket building
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.
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