As inflation and financial uncertainty persist, customers are adjusting their buying habits and adopting cost-cutting measures.
Sixty-nine % of world customers have modified their non-essential spending habits. That is revealed by PwC’s “February 2023 International Client Insights Pulse Survey” report (PDF). PwC’s bi-annual survey goals to trace shopper developments all over the world.
For the February report, 9,180 customers have been surveyed in 25 international locations: Australia, Brazil, Canada, China, Egypt, France, Germany, Hong Kong SAR, India, Indonesia, Eire, Japan, Malaysia, Mexico, Philippines, Qatar , Saudi Arabia, Singapore, South Africa, South Korea, Spain, Thailand, United Arab Emirates, United States and Vietnam.
Respondents have been at the very least 18 years previous and needed to have made at the very least one on-line buy within the earlier 12 months.
The report identifies 4 shopper segments.
Probably the most pessimistic group (42%) anticipates a substantial discount of their retail spending in all classes. For instance, they’re much less inclined to journey and extra prone to swap to extra reasonably priced manufacturers and even forgo utilizing sure gadgets they usually depend on.
In 2023, customers nonetheless want to buy in-store, with 43% of respondents selecting it as the preferred channel up to now 12 months. On-line buying by way of smartphones ranks second in recognition at 34%.
Customers need a mixture of bodily and digital experiences when buying in-store.
When requested to prioritize elements that might enhance their in-store buying experiences, 50% of respondents ranked entry to educated and useful gross sales associates as the highest issue. Moreover, 42% of respondents expressed a robust choice for utilizing self-checkout kiosks, whereas 41% most popular utilizing a retailer’s web site or in-store cellular app to seek for particular merchandise. .
The report additionally reveals that 43% of customers plan to extend their on-line purchases within the subsequent six months.
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