Consumer Attitudes & Behavior

Faster shopping and the transformation of old age are two of the trends identified by Euromonitor International on its annual report of the trends that will shape the consumer landscape this year.   The “Top 10 Global Consumer Trends for 2017” report noted that 2016 was defined by uncertainty with growth in global consumer expenditure slowing to 2.4% in real terms – the lowest rate of growth since the financial crisis.  

Retailers’ mobile engagement initiatives are headed in the right direction, but shoppers are still dissatisfied.   According to DMI’s second annual “Mobile In-Store Experience Rankings” report, which assessed mobile experiences among 120 retailers, in-store mobility influences where 74% of the general population and 88% of “mobile reliants” shop.   

When retailers and architects design store layouts, beyond designing for aesthetics they attempt to control the path that shoppers take through the store. Ideally, shoppers follow the most convenient path to find the products they seek, one that is lucrative for the retailer and that gives shoppers the opportunity to notice the maximum number of products during their time in store.  

Holiday sales not only beat expectations among industry observers, it hit a five-year high.   Retail sales grew by 4.8% through the holiday season, as compared to the same period in 2015 — and November and December spending growth is the strongest it’s been in five years, according to a new report from Visa.   “The Visa Retail Spending Monitor” tracks retail sales, with the exception of autos, gas, and restaurants, among retail goods, services and stores on Visa payment products. 

It was a less than merry holiday for some retailers, especially in the department store sector, but total sales still managed to beat industry projections, fueled by a strengthening economy.    Retail sales (excluding autos, gas stations and restaurants) during November and December rose 4% over 2015 to $658.3 billion, according to the National Retail Federation. The group had forecast sales would rise 3.6% to $655.8 billion.  

When did washing dishes become more attractive than shopping?   In-store shopping has lost its allure for many shoppers, who are increasingly frustrated with brick-and-mortar stores that lack the convenience of online players, according to a new global report from Capgemini’s Digital Transformation Institute.    

An international study conducted by Capgemini found 80% of retail executives believing in the sanctity of the physical store. Only 45% of shoppers, however, felt the same way.   The consulting company’s Digital Transformation Institute surveyed 6,000 consumers and 500 retailers in the U.S., China, and seven European nations and found a consumer base much more taken up with technology and online shopping than leading merchants were.  

The new owner of the 550,000-sq.-ft. Lakeview Square Mall in Battle Creek, Michigan, finds itself in a common quandary among property owners today -- launching an all-points search for retailers to fill the hole left by a closing Macy’s.