Consumers are buying fewer things, purchasing more big-ticket items online, and continuing to shop primarily in-store for everyday products, such as groceries, according to recent research from Walker Sands.
The Future of Retail 2019 report was based on data from a survey conducted in March 2019 among 1,600 consumers in the United States.
Two-thirds of respondents of all ages, and 72% of those age 18-35, say they are buying fewer things because they have become more conscious of keeping a clean, organized lifestyle.
In part because of this shift toward a less-is-more mentality, consumers are increasingly renting products: Some 17% of respondents age 26-35 say they have rented clothing in the past year, and 15% have rented furniture.
Some 46% of respondents of all ages, and 56% of those age 26-35, say they are now more open to purchasing a big-ticket item online than they were a year ago.
The most popular big-ticket categories online are furniture (20% of respondents have purchased online) and home appliances (17%).
Brick-and-mortar remains popular with consumers for buying things like food and other daily necessities: Some 83% of respondents say they purchased groceries in-store in the past year, and 76% say they purchased consumer packaged goods.
Books are the only type of product that consumers shopped for more on third-party marketplaces like Amazon than in-store.
About the research: The Future of Retail 2019 report was based on data from a survey conducted in March 2019 among 1,600 consumers in the United States.
Know someone who would enjoy it too? Share with your friends, free of charge, no sign up required! Simply share this link, and they will get instant access…
You may like these other MarketingProfs articles related to Marketing Strategy:
- Undivided Attention: A Key Benefit of Traditional Mail Marketing
- Digital Marketing for Biotech Companies: From Clinical Trials to Clicks
- B2B Branding, Stories, Social Efforts, and Disruptive Innovation for Your Company | Marketing Smarts Live Show
- The 10 Biggest Emerging Global Risks According to Experts
- Seven Tactics Marketers Can Learn From IKEA [Infographic]
- Selling in a Recession: Challenges and Training Opportunities