Today we launch the 5th edition of the ShopperPANEL Retail Report. In this edition we look at the current retail landscape, with an emphasis on the impact that the COVID-19 pandemic is continuing to have on retail habits.
This report combines data from over 500 respondents within our shopper team specifically diving into their retail experiences and expectations and takes a lens to the impact that the continual lockdowns are having on shoppers across Australia.
Some key outtakes:
- Shoppers are willing to spend more with 1 in 3 respondents spending more than expected in-store, prompting the debate around the impact of stock availability and potential decrease in budget restricted purchasing.
- Purchases are more planned than ever before with 71% of respondents making planned purchases driven by research before visiting store. This will put an increased focus on changing habits around impulse purchases.
- Stock issues continue to be the biggest roadblock to sales with 44% of respondents noting that their chosen product was out of stock however shoppers are open to alternate options – Visibility and range are key to overcoming this challenge.
- Sky high confidence in the Omnichannel shopping experience continues to grow with 91% of respondents more than comfortable with the end to end experience driven by lockdowns moving retailer visits to click & collect.
Have you performed your health check on in-store activation and your online presence?
Have you got the on shelf basics right?
Do you have real time visibility to execution and a plan to maximised your on shelf visibility?
Contact us if you’d like to understand how we can help you win in a new retail environment.
Click here to download the full version: