TL;DR
Independent retailers can gain valuable insights from big box retailers about consumer shopping behavior in the digital age. Shoppers are driven by convenience and discounts, often switching brands and seeking deals due to inflation. Digital channels provide convenience, with shoppers utilizing online platforms for both in-store pick-up and home delivery. Customers expect consistent pricing, quality, and brands across all channels. To succeed in the digital realm, small retailers should focus on accurate stock availability, relevant coupons, and quality product offerings.
Learning from Big Box Retailers: Digital Shopping Insights for Small Stores
Small and independent retailers can take a page out of big-box retailers’ books when it comes to understanding consumer shopping habits in the digital era. Recent findings from Food Navigator shed light on how consumers are adapting their shopping behaviors, and these insights offer valuable lessons for small retailers seeking to succeed in the digital marketplace.
Convenience and Discounts Amidst Inflation Inflation has left its mark on consumer behavior, with 65% of Kroger shoppers expressing high concern about rising prices. The data shows that 70% of consumers are actively seeking sales, deals, and coupons. About 57% are cutting back on non-essentials, and 51% are opting for lower-cost brands. Additionally, 41% are purchasing fewer items during their grocery trips.
Digital Channels for Convenience The convenience factor is driving consumers towards digital channels. Around 76% of shoppers are using online platforms for in-store pick-up due to convenience, and 73% find online shopping and home delivery equally convenient. This trend reflects a shift towards seamless and time-saving shopping experiences.
Consistency Across Channels Consumers expect consistency across online and in-person shopping experiences. When it comes to pricing, coupons, quality, and brands, shoppers desire uniformity. About 67% want the same coupons, 66% expect consistent pricing, 61% demand equal brand quality, and 56% look for the same brands across channels.
Digital Shopping for Deals and Availability Building an online shopping basket involves careful consideration of deals and availability. For omnichannel shoppers, 62% browse digital coupons and promotions, while 66% use search functionalities to compare prices and find discounts. Retailers should focus on providing accurate stock information, relevant coupons, and high-quality product substitutions to enhance the digital shopping experience.
Navigating Out-of-Stock Items While 75% of shoppers wait for their next trip to the store to pick up out-of-stock items, 25% place a high value on availability and accuracy. Among this group, 19% will seek the item from another online retailer, and 6% will switch to a different retailer altogether to find the product in stock.
Small and independent retailers can draw significant insights from the practices of big box retailers in the digital realm. Convenience, discounts, and consistent experiences across channels are key drivers for today’s shoppers. Focusing on accurate stock availability, relevant promotions, and quality offerings can empower small retailers to meet the demands of the modern digital shopper.
