Here’s What Consumers Are Expecting From Retailers This Year

Consumer sentiment has been diminished due to rising inflationary pressures, but in spite of the fact that this is the case retailers are still hopeful that they can make adjustments to meet their needs and drive a solid rate of sales in the coming year. Emailed offers have been seen as more appealing by consumers according to surveys, with 19% of them preferring email offers this year as compared to 10% saying the same last year with all things having been considered and taken into account.

This doubling of preference when it comes to emails is interesting because of the fact that this is the sort of thing that could potentially end up modifying retailer strategies moving forward. With all of that having been said and now out of the way, it is important to note that social media has managed to surpass emails in terms of popularity, with 21% of consumers saying that they prefer it.

Cost is still a big factor at play here, with 47% of consumers saying that they want lower costs to entice them into becoming buyers. 77% of these consumers have already started shopping around for the best offers, and retailers who are willing to meet them halfway might see a higher rate of sales than might have been the case otherwise.

Payment plans and financing that allow consumers to make purchases and pay for them in instalments are preferred by 71% of consumers, although 25% admitted that they had never used a plan like this before. 73% of consumers also stated that they will be focusing more on budget brands, and these brands may be able to generate a higher sale volume due to their organically lower price points.

A lack of money is a major concern for consumers this year, with 34% fearing that they might run out of money before they get all of their buying done. 36% also spoke out about fears that their favorite gift items would be more expensive this year which might make them financially unviable, and it remains to be seen if the holiday shopping season would go smoothly.

H/T: Oracle Study.

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