U.S. consumers want it all. They want it now. It must be high quality. And price matters less than it did ten years ago. Retailers often wrestle with mixed messages. The conflicting elements of spending less time shopping yet having an enjoyable experience can be confusing. Desiring a high-quality item, while paying less for it seems contradictory. Convenience in the face of researching the very best product among all available options seems incongruous. But you can help your clients crack the code on the new U.S. consumer with data from AdMall and AudienceSCAN by SalesFuel.
Mixed messages abound. According to the National Retail Federation’s Consumer View Report, consumers overwhelmingly opt for quality and price when asked what matters most while shopping. Just one in 10 consumers mentions convenience. At the same time, nearly all (97%) have backed out of a purchase because it was inconvenient for them. Over 1/3 feel they have less time now than compared to 5 years ago. What are their priorities? Where do consumers now spend more time than 5 years ago?
- 61% more with family
- 52% more at work/school
- 45% more commuting
- 43% more shopping
Shopping is a chore. It is taking more time now than 5 years ago for 43% of consumers. In fact, between 2009 and 2019, perception of everyday shopping “as a chore” has more than doubled across the U.S. population. Consumers are less willing to spend time in stores (unless the experience is positive). However, shoppers’ willingness to pay to “make life easier” has risen by 30% over the same time period. Convenience to obtain certain products come with a price. A portion of shoppers will pay more for convenience around certain products:
- Groceries 66%
- Clothing 61%
- Electronics 59%
- Personal care 58%
- Pet supplies 58%
Crack the Code on the New U.S. Consumer
Providing a convenient shopping experience can ensure a consumer will complete a sale. Making a high-quality product available at a reasonable price will ring the cash register. Consumers believe retailers should be offering a variety of options to ensure their shopping is as hassle-free as possible. Shoppers know these innovations exist and they're looking for them across all retailers. How can you help your retail clients to understand and identify these seemingly fickle customers?
AdMall’s AudienceSCAN offers over 1,380 complete profiles on customer groups with details on lifestyle, demographics, purchase intent, online habits and behavior, shopping preferences and much more! You can probe the behavior and intent of shoppers to gain insight and find the right medium to carry the message home for your client. Here are several examples of complete AudienceSCAN profiles so you can start to crack the code on the new U.S. consumer.
- Quality First Shoppers: 43.8% of U.S. adults are willing to pay more for higher quality on most products
- Price Conscious Shoppers: 26.4% of U.S. adults are willing to compromise on quality to save money on most products.
- Principled Shoppers: 22.1% of U.S. adults avoid buying from companies whose values conflict with their beliefs.
- Coupon Users: 74.6% of U.S. adults search for and often make buying decisions based on coupons.
Use these reports in concert with the local account intelligence available in AdMall to learn more and earn more! Knowing your advertisers’ business and having consumer insight can be the competitive edge you need to separate yourself from your competition and earn you the credibility that comes with being a true advertising and marketing professional.