COVID-19 Shopping Trends

Consumer behavior has changed in 2020, forcing retailers and marketers to adapt to new shopping dynamics. Due to COVID-19 shoppers are changing where they shop, what they are shopping for and how much they are spending at checkout.

Below are key trends retailers should focus on this holiday season:

  • Target reported a 19% increase in basket size in 2020, indicating that while consumers are traveling to stores less frequently, they are making the most out of each visit
  • With travel down considerably, consumers are reinvesting those funds into self-rewarding products such as skincare, outdoor activities and home improvements
  • Shopping is now all about efficiency and safety. Retailers must meet the consumer demand through innovation. Delivery fulfillment options are critical
  • Adaptability and agility will be key

Below are a few key media best practices marketers should keep in mind while guiding retail brands through these unprecedented times:

  • Shopping goes even more digital: COVID-19 is a catalyst that drove digital transformational change, both in consumer behavior and retail industry infrastructure. The pace of online sales accelerated at a faster pace within the last few months vs. the previous 10 years
  • Data can inform innovation: Consented 1st party data is the foundation for data strategy— purchase history, search behavior, consumer journey indicators help inform brands how to meet consumer demand efficiently
  • Selling is still give and take: Consumers are willing to share their data with the proper value exchange

COVID-19 has not stopped shopping in its tracks. It simply changed the way shoppers are behaving. We are still learning how COVID-19 will ultimately impact retail, and the upcoming holidays will be a significant barometer which will provide more data and learnings.

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