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Data for today’s episode is provided by Mercator Advisory Group’s Report: 2021 Buyer PaymentsInsights: Shopology – COVID Impacts on the Consumer Shopping Experience
In-Store Shopping is Rebounding:
- Research data shows that consumers are re-evaluating the way they shop based on their experience during COVID-19’s initial impact.
- In-store shopping experienced a 22% drop during the pandemic.
- Consumers shifted more of their purchasing behavior to online shopping and curbside pickup during the pandemic.
- Mercator Advisory Group anticipates an 8% increase in online ordering with delivery.
- Mercator also anticipates an 11% rebound of in-store shopping.
- Good ventilation, PPE, and mask enforcement are focus areas for retails to consider if they want shoppers back in stores.
Mercator Advisory Group’s most recent consumer survey report, 2021 Buyer PaymentsInsights: Shopology – COVID Impacts on the Consumer Shopping Experience, from our annual Buyer PaymentsInsights series, examines U.S. consumers’ shopping habits for goods and services both in-store and online during the pandemic.
The report, which is based on an online consumer survey administered to 3,003 U.S. adults between May 21 and June 22, 2021, covers the buyer experience and includes questions that explore consumers’ shopping attitudes, preferences of shopping venue, common ways consumers make non-grocery purchases, before, during, and expected after the pandemic, and many more shopping-related subjects. It is important to note; this survey was conducted one year following the inception of the COVID-19 pandemic, as the American economy begins to experience a glimmer of hope with vaccination approval and population immunization underway.
Various aspects of how American consumers interact with the payments’ ecosystem are brought together to highlight key trends in consumer behavior, preferences, and motivations, influenced by consumer perceptions and experiences with payment-related issues associated with the changes in consumer shopping habits brought about by the impact of the pandemic.
Readers will be presented with a detailed analysis of the impact of demographic characteristics on consumer behaviors and inclinations, general consumer trends, as well as actionable insights for industry players to consider.
“Life following the lifting health mandates will continue to evolve as consumers continue to re-evaluate alternative shopping methods and who they decide to purchase from. As a result, retailers have an opportunity to gain consumer loyalty by providing a safe shopping environment, offering high-quality products, and demonstrating flexibility with preferred payment options.” – Amy Dunckelmann, Vice President, Research Operations, Mercator Advisory Group.