As we found last year, retail continues to undergo an incredible shift, driven by changing consumer behaviors and expectations. Brands and retailers have to respond to ever-changing patterns of customer demand, shifting geopolitical situations, global supply-chain pressures, the COVID-19 pandemic, and now the cost-of-living crisis. Today’s consumer is still shopping in multiple channels, but their price consciousness has risen in light of inflation and increasing concerns over affordability.
They are interacting with stores and online channels less than last year, but still want the conveniences of delivery and fulfillment that they previously demanded. Consumers today want sustainable products at an affordable price point and they expect companies to help them through this difficult time. Brands and retailers must make it easier on the consumer by reducing their costs and offering new and creative ways to provide both affordability and sustainability.
From our survey of over 11,000 consumers around the world, it is also clear that shoppers are becoming more influenced by social media, and many are making purchases based on influencers they follow, especially younger generations.
We surveyed 11,300 consumers over the age of 18 in 11 countries across North America, Europe, and Asia Pacific. The global survey took place in October and November 2022. The demographic details of consumers are below.
Source: Capgemini Research Institute, Consumer demand survey, October–November 2022, N=11,300 consumers; Capgemini Research Institute, What matters to today’s consumer, January 2022, N=10,179 consumers. *The study findings reflect the views of the respondents to our online questionnaire for this research and are aimed at providing directional guidance. Please contact one of the Capgemini experts listed at the end of the report to discuss specific implications.
Service attributes tested among grocery and health and beauty shoppers:
Delivery and fulfillment-related services – Grocery and health and beauty
Order online with same day home delivery
Order in store with same day home delivery
In-store experiences – Grocery
In-store experiences – Health and beauty
Source: Capgemini Research Institute analysis.
Global Sector Lead, Consumer Products, Retail Distribution, Capgeminitimothy.bridges@capgemini.com
Global Retail Lead, Capgemini lindsey.mazza@capgemini.com
Vice President, Global Lead for Insights and Data, Capgemini Consumer Products and Retail kees.jacobs@capgemini.com
Customer Transformation and Experience Lead, frog, Part of Capgemini Inventsteve.hewett@frog.co
Vice President, eCommerce, Capgeminiowen.mccabe@capgemini.com
Senior Vice President, UK Lead, Capgemini Consumer Products and Retailmichael.petevinos@capgemini.com
Vice President, Global Supply Chain Capability Lead, Capgeminimayank.q.sharma@capgemini.com
Head of the Capgemini Research Institute jerome.buvat@capgemini.com
Director, Capgemini Research Institute marisa.slatter@capgemini.com
Senior Manager, Capgemini Research Institute sumit.cherian@capgemini.com
The authors would like to especially thank Harshada Suresh Sambare and Mridul Agarwal from the Capgemini Research Institute for their contributions to this research. The authors would also like to thank Richard Grave, Emmanuel Fonteneau, Achim Himmelreich, Vito Labate, Katarina Bromberg Segal, Kristin Morris, and Ashwani Kumar for their contributions to this research.
About the Capgemini Research Institute The Capgemini Research Institute is Capgemini’s in-house think tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the UK, and the US. It was recently ranked number one in the world by independent analysts for the quality of its research.
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timothy.bridges@capgemini.com
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