The pandemic brought about unprecedented disruption and changed the face of several industries drastically, retail in particular. Apart from e-commerce being in the spotlight of accelerated digital transformation in these challenging times, there has also been a significant shift in customer attitudes and behaviors. From a need-based purchasing pattern, today’s customers are more environmentally conscious and are leaning towards sustainability. A BCG survey indicates that 90 percent of consumers are as concerned about sustainability issues now than before the pandemic, with some being more concerned than before.
Driving factors of shopping in 2022
The years 2020 and 2021 altered the rhythms of daily life. The pandemic proved to be a crucial aspect that enabled customers to embrace a balanced lifestyle. Although the period resulted in increased sedentary lifestyle owing to remote and hybrid working, it has driven people to be health-conscious and heightened the importance of overall well-being. According to a report by IRI and Consumer Healthcare Products Association, compared to the pre-pandemic times, there has been a significant increase in consumer self-care with nearly 70 percent of Americans prioritizing health and wellness activities several days a week or more. With customers continuing to prioritize their health more than ever, the year 2022 is predicted to witness an increase in the sale of health, self-care, and well-being products including self-improvement books, nutritious food, herbal supplements, and exotic food ingredients.
Building customized spaces
With a large number of people grappling with the effects of the pandemic, remote and hybrid working has become the norm. It has led to homes serving as multi-purpose spaces for office work, studies and fitness activities. As a result, there is a growing desire among people to customize homes to reflect their unique personalities in the best possible way. On the retail front, this can potentially trigger a surge in the sales of home décor, furnishings, and other household appliances.
Pursuing creative interests
With the implementation of lockdowns across the world to curb the spread of the pandemic, there is a rise in the number of people seeking meaningful outlets to sail through uncertain times. This pursuit of creative activities is likely to result in an increase in the sales of various products such as craft and hobby materials, games, and toys. As the year 2022 continues to battle against COVID-19, the pursuit of creative interests is predicted to soar, augmenting related retail sales.
Enriching life with sustainable products
An increased consumer preference for local and sustainable products over opting for big brand products was observed in 2021. A global research report by Mastercard reveals that 58 percent of consumers in 24 countries were mindful of their impact on the environment in early 2021. In addition to the advantage of supporting small businesses and reducing shipping delays, choosing local, eco-friendly products points to an increased ethical concern among consumers. This environmental consumerism is predicted to stay in 2022.
Beating the blues with furry companions
With looming social isolation tightening its grip in 2022, studies indicate that pets can provide the emotional support necessary to combat loneliness. This can potentially drive the sales of pet products to a skyrocketing number. The pet food market is projected to hit $47.9 billion in 2025, growing at a CAGR of 6.6 percent.
Envisioning the future customer behavior
With the help of immersive technologies such as virtual reality and augmented reality, it is now possible to bridge the online and in-store gap, thereby enhancing customer experience. A seamless integration of immersive technologies in the retail sector is expected in 2022 which can enable customers to check out products virtually before making buying decisions.
The new-age customer prefers quick, convenient, and hassle-free shopping, whether it involves buying online, in-store, or picking up in-store after buying online. Being an omnipotent retailer across various channels comes with its own set of challenges and this is exactly what Intellect’s 6DX is here to solve. With 6DX, customers are now introduced to a delightful and intuitive shopping experience. This NextGen Retail technology helps leverage the power of the 6 critical dimensions of retail - Fast checkouts, Promotions, Payments, CRM, Coupons & Vouchers, Loyalty Programmes making it the ultimate retail success partner. Book your free demo now!