Adaptive retail is undeniably revolutionizing consumer shopping habits. Building upon the concept of omnichannel retail, adaptive retail customizes shopping experiences to cater specifically to each customer's preferences. This approach provides convenience, personalization, and a seamless experience, regardless of how, when, and where they shop.
Discover why adaptive retail strategies are crucial with these eye-openers from Walmart’s “Adaptive Retail Report 2024,” shared by eMarketer:
Subscription Services & Personal Convenience: 44% of parents want subscription or auto delivery for food and non-food items. No wonder US subscription eCommerce sales are expected to hit $41.25 billion by 2025. Setting up recurring purchases at intervals that suit individual needs encourages customer loyalty and can give brands a competitive edge.
Multitasking Purchasing: Shopping is no longer its own solitary activity. Walmart reveals that nearly 80% of shoppers make purchases while multitasking. In fact, 56% do their buying while watching TV and close to 40% buy while browsing social media. Marketers, make sure you’re integrating social media, connected TV, and other touchpoints into your plan – to ease the shopping experience wherever the consumer is.
Social media and Gen Z. Social has become a pivotal platform for shopping and product discovery among Gen Z. According to Walmart, 55% of Gen Z have made a purchase while browsing social media in the past six months, and 38% of them start their shopping process on these platforms. Social Commerce continues to grow, says a recent eMarketer survey, with 33% of US adults (18 to 34) purchasing items via social media sites like Instagram and TikTok. To effectively connect with younger consumers, be sure to embed shoppable content within social media platforms, meeting Gen Z where they already engage online.
Instant Gratification: According to Walmart, nearly half of shoppers surveyed crave immediate access to our online purchases, while 42% want that same convenience 24/7 in-store. It’s a reminder of how important it is to blend the ease of online shopping with the instant access of walking into a store. Walmart's research shows that almost half of all shoppers are eager for instant online purchase options, and a good 50% are all about using mobile self-checkout in stores. Plus, there’s a strong preference (64%!) for delivery services that can get things to your doorstep in 30 minutes, without the hefty cost of expedited shipping. For marketers, this is a call to action. By integrating technology that makes shopping smoother and speeds up delivery without upping costs, you can meet rising consumer expectations head-on.
Consumers prioritize value over channels. A key insight from Walmart shows that more than half of Gen Z and early tech-savvy buyers purchase their groceries exclusively online (54%) or use a blend of online and physical store shopping (58%). As online shopping continues to grow, shoppers are choosing where to buy based on competitive pricing, high-quality products, and secure data practices. Gen Z and early tech adopters, in particular, are indifferent to the channel, focusing instead on the overall value offered. To attract and keep customers, emphasize competitive pricing, quality, and security across all shopping platforms, appealing to consumers wherever they shop.
It’s so clear: Integrating convenience and value across all channels is key to capturing today's consumers.
Want more insights to accelerate your brand’s growth? Contact @Todd Matherly, todd.matherly@mpgllc.com today for a conversation.
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