Next-Generation Shopping – Consumer TrendSights Analysis, 2023
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Next-Generation Shopping – Consumer TrendSights Report Overview
The ability to purchase groceries online has not only addressed existing needs for convenience and choice but has also heightened consumer expectations. Consumers now need personalized shopping experiences and more sustainability-conscious retail channels. The “Next-Generation Shopping” consumer trendsights research report focuses on the evolution of grocery retail amidst a more sophisticated digital landscape.
TrendSights: Next-Generation Shopping
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Key Trend Drivers | • Web-Fluent and Digitally Dependent Consumers
• Unrelenting Pursuit of Value-For-Money |
Key Brands | • Hungryroot
• Addie’s • FoodSpies • Walmart • The Fresh Market • M&S |
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Next-Generation Shopping – Key Drivers
The key factors driving the next-generation shopping trend are web-fluent and digitally dependent consumers, unrelenting pursuit of value-for-money, pandemic-driven online migration, intensifying time scarcity (or the perception of it), and individualistic and demanding shoppers.
Web-fluent and digitally dependent consumers: The growing adoption of smartphones has presented shoppers with more efficient and sophisticated ways to shop.
Unrelenting pursuit of value-for-money – The ability to compare and access the best prices online is highly appealing, particularly among those consumers facing inflationary pressures.
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Next-Generation Shopping – Innovations by Brands
New digital technologies and business models are effectively aligning grocery shopping with consumers’ health, convenience, and budgetary needs. Retailers are exploring how digital platforms can enhance and reimagine the grocery shopping experience through immersive experiences or exclusive benefits.
Hungryroot, US: The grocery delivery service uses AI to provide predictive and automatic deliveries. It uses machine learning and predictive modeling technologies to build customers’ carts for them, with groceries and recipes that aim to meet their nutritional objectives. New customers must take a quiz to establish their grocery preferences, which is then used to determine how many servings of meals and snacks shoppers will like and what types of items the basket should contain.
Key Brands Leveraging Innovations
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Next-Generation Shopping Trendsights – Importance and Future Outlook
Consumers can compare and access the best prices for products online and decide on their purchase products based on value. Online shopping increased during COVID-19 but continues in the post-pandemic period as positive experiences have led to enduring online shopping habits. Furthermore, customers can purchase products on online platforms without the necessity to enter a physical store, thus saving their time.
Since consumers are preoccupied with inflation and its impact on the cost of living, retailers need to realize that delivery charges may be perceived as a disadvantage of online shopping from a value-for-money perspective.
Next-Generation Trend Lifecycle
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Key Highlights
- The appeal of online grocery shopping is anchored in both rational and emotional benefits.
- It is crucial for retailers to recognize that delivery charges may be perceived as a disadvantage of online shopping from a value perspective.
- Investments in new technologies to deliver a frictionless experience can result in the creation of new obstacles. For example, the advent of self-checkout and scan-and-go technology have increased the risk of theft, which in turn has prompted retailers to take a range of preventative measures.
Reasons to Buy
- Consider emerging opportunities and threats in the fast-moving consumer goods market and gain insight into potential future consumer behavior.
- Identify interesting new and emerging concepts, products, and ideas on offer in retail, foodservice, online spaces, and beyond.
- Understand how new concepts and ideas fit into or challenge current consumer trends.
- Gain insight and inspiration for innovation programs and new product development.
Table of Contents
Frequently asked questions
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What are the benefits of online grocery shopping?
Online grocery shopping has addressed existing needs for convenience and choice and has heightened consumer expectations.
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What are the key next-generation shopping trend drivers?
The key factors driving the next-generation shopping trend are web-fluent and digitally dependent consumers, unrelenting pursuit of value-for-money, pandemic-driven online migration, intensifying time scarcity (or the perception of it), and individualistic and demanding shoppers.
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How are retailers embracing the next-generation shopping trend?
Retailers are exploring ways for digital platforms to enhance and reimagine the grocery shopping experience through immersive experiences or exclusive benefits.
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