Ankit Jaiswal’s Post

A recent report shows that 𝟳𝟯% of Belgian consumers never or almost never return online purchases. This behavior stems from careful buying habits, where shoppers only order items they intend to keep. Interestingly, even in the fashion sector, where return rates are typically high, 𝟲𝟰% of frequent shoppers do not return items. This trend also supports the growing emphasis on sustainability in ecommerce, with Belgian consumers valuing efficient shipping, sustainable packaging, and eco-friendly business practices. Source: Ecommercenews Europe #ecommerce #returns #reverselogistics #retail

Major shifts in consumer behaviour – this is how Swedish retailers and consumer product companies can adapt.    Our Swedish Consumer Sentiment report that I have been part of is launched today, which gives a deep dive into shifting behaviors, the role of sustainability, and omnichannel behavior.   Here are some of the key findings:   - Price sensitivity is at an all-time high: Swedes are shopping less, buying less, and hunting for the best deals. - Sustainability matters, but not at any cost: 66% want to be more eco-conscious, but only a fraction will pay more for green products. - The in-store experience still wins: even in the digital age, 75% of Swedes prefer to shop in physical stores when it counts.   To stay competitive, retailers and consumer product companies must rethink strategies in pricing, product assortment, and online experience. Offering entry-level price points, improving the online journey, and addressing local preferences are critical to keeping customers engaged.    But it doesn't stop there, companies need real-time data analytics to track shifts in consumer behavior and optimize their approach.   For detailed insights on how to engage Swedish consumers effectively – click the link to read the full report.    https://lnkd.in/dnQEWMCk   Thank you, all who participating in creating this report Nanna Gelebo Olof Darpö and many others   #BCGintheNordics

Do we really spend more and more? PwC UK's latest #ConsumerSentiment Survey shows spending intentions have improved across almost every category compared to last quarter’s data. The strongest improvements since the spring were in grocery, holidays and fashion. Take a look at the full findings: https://pwc.to/4deCmsQ  #IndustryInFocus #RetailTrends

Here are the key insights from BCG's latest consumer sentiment survey, highlighting the impact of inflation, sustainability trends, and shopping preferences… 🔍 Key Takeaways 👗🧥 Consumers Cutting Back on Non-Essentials As inflation pressures budgets, consumers are slashing spending on non-essentials, with clothing taking a notable hit—a 20% decline across the board. France stands out, leading this trend with a sharp 38% reduction. The question remains: is this a short-term adjustment, or a deeper, lasting change in consumer behavior? ♻️ Sustainability's Slow Progress While 35% of consumers factor sustainability into their purchase decisions, only 21% are willing to pay a premium for it. This "sustainability price gap" remains a major hurdle, particularly in France, where 40% embrace sustainable choices but just 10% are ready to pay extra. 👩💻🏪 Physical Stores vs. Online Shopping Online shopping thrives on convenience, wider selection, and lower prices, but physical stores remain favored for the experience and service they offer. If forced to choose, 64% of consumers still prefer buying apparel in-store. This underscores the importance of an #omnichannel approach, combining the best of both worlds #consumerintelligence #apparel #shoppingbehavior #sustainablefashion

💡 Cost of living continues to have an impact on customers spending habits. The impact varies significantly across categories and customers. Categories: For retailers, the standout is online marketplace, up 20% vs last year, and driving growth in general retail, while customers continue to pull back spend in apparel. Customers: Under 30's pull back their spend by -2% -> Brands and products appealing to younger customers should focus on presenting value to customers. In contrast, over 60's are less impacted, in fact, the oldest age group (70+) increase their discretionary spending by 8%. For a deeper understanding of consumer behaviours and how they impact your brand and categories, please get in touch. You can find our full summary report here: https://lnkd.in/gSqHgcCR #consumerinsights #CommBankiQ Makenna Ralston Simon Johnson Louise Carter Tom Pinnell John Affleck

The spending power of Millennial and Gen Z shoppers has grown in recent years. We explore what it means for online Beauty and Cosmetics retailers in Asendia’s latest blog: https://lnkd.in/ebjtm255   One key trend that growing e-commerce brands need to be aware of is the rise of sustainable beauty. Brands must make efforts to minimize their environmental impact, which might include making their products recyclable, using non-toxic ingredients, reducing the carbon emissions from their manufacturing process and plenty more… Beauty consumers, particularly younger ones, are increasingly passionate about green issues and have grown more discerning about the brands they buy from. On the flip side, studies suggest they’re willing to pay a premium for eco-friendly products, which represents a golden opportunity for e-tailers. By taking steps to make their business model more sustainable, brands can enhance their reputation and boost customer loyalty. No wonder then that more and more Beauty and Cosmetics e-tailers are championing sustainability. To see some examples of eco-friendly strategies your e-commerce business could adopt to strengthen your appeal amongst Beauty and Cosmetics customers, click the link above to read the full blog. #ecommerce #sustainability #beauty #cosmetics #onlineshopping

𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚 𝐅𝐚𝐬𝐡𝐢𝐨𝐧 𝐑𝐞𝐭𝐚𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐) The Australia fashion retail market size reached USD 11.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 27.96 Billion by 2032, exhibiting a growth rate (CAGR) of 9.60% during 2024-2032. The report provides a detailed analysis of competitors and regions, offering insights into the industry's landscape. It breaks down various segments, clearly showing how each part contributes to the overall market. By examining these segments, the report helps identify trends and patterns that may affect future strategies and planning. 𝐆𝐫𝐚𝐛 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://lnkd.in/eaCUFX5z 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 ● 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐏𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬: The growing focus on fashion, sustainability, and personalization, coupled with the increasing adoption of e-commerce, is driving demand for fashion products. ● 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: The integration of digital platforms, AI, and virtual try-on technologies is enhancing the shopping experience and driving customer engagement. ● 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐄𝐭𝐡𝐢𝐜𝐚𝐥 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬: The growing emphasis on sustainability, ethical production practices, and the rise of second-hand fashion are shaping consumer choices and driving market growth. 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://lnkd.in/e3rBZfS3 #fashionretailmarket #marketresearch #business #marketanalysis #markettrends #researchreport #marketreport #marketforecast #marketgrowth #businessinsights #industryanalysis #marketoutlook #growthprojections #marketstatistics #competitiveanalysis #trendanalysis #marketinsights #imarcgroup

“On the retailer side, 163 brands now offer resale through the ThredUp platform, and 2/3 of companies who offer resale say they expect it will generate at least 10% of revenue within 5 years. 87% say it has advanced their sustainability goals. One thing to watch for in the future: with online purchases of resale climbing, at 10% of total sales, consumers are going to have an expectation for a lot more omnichannel capabilities from retailers. Right now, a lot of these programs are run more by marketing than, say, merchandising departments. And the logistics are totally separate from the retailer’s main supply chain. That means the potential for some omnichannel reckoning in the not-so-distant future.” “In the run up to the Retail Technology Show 2024, Retail Technology Innovation Hub released research digging into UK consumers and their own resilience or lack thereof. They ran a survey of 1,000 UK adults, and found that 45% of survey respondents have been using savings accumulated during lockdowns to offset cost of living increases. They found that on average, British consumers racked up GBP 4,805 during lockdowns, and 1/3 say their lockdown savings have now or will soon be spent. 26% expect the cost-of-living crisis to last beyond 2026, while 20% expect it to end in 2025. 48% of respondents say they are increasingly price sensitive. The biggest difference between UK and US consumers seems to be this idea of tapping out – UK consumers report being tapped out, while US consumers aren’t necessarily tapped out, and don’t behave like they are, even as they claim they feel that way.” “First up, it’s not just its efficacy that is questionably sustainable. Creating large language models is ridiculously expensive, and one big component of that is power. To the point where tech companies made the effort to show up at an energy conference in Houston, where AI was the top topic. Oregon's Portland General Electric has doubled its forecast for new electricity demand in the next 5 years. Georgia now predicts 17x more demand for industrial power than recent estimates. It wasn’t that long ago that Sam Altman of OpenAI fame went on the record saying that in order for AI to become ubiquitous, it would require a breakthrough in energy production. I guess we’re already starting to feel the pain. This is coming at a bad time for environmental sustainability goals – if we can’t meet this surge in demand with sustainable energy sources, the fallback is more carbon.” - Nikki Baird

These evolving consumer behaviour and the resulting market dynamics make it an exciting time for both existing players and new entrants in the industry. #InsideRetail #Retail #retailnews #consumer #behaviour #evolve