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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
The Benefits of Promoting In-Store Shopping:
- While online shopping has helped consumers during health restrictions, there is no replacement for in-person shopping.
- Mercator Advisory Group expects to see an 11% rebound of in-store shopping after the pandemic.
- 64% of consumers ages 18-34 say they end up buying more than they need when they shop in person.
- 63% of consumers ages 18-34 say returns for items bought in-store are easier than for online shopping.
- 56% of consumers ages 18-34 find it important to be able to physically interact with products before deciding whether to buy.
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.