NEW YORK, June 09, 2024 (GLOBE NEWSWIRE) — Optimove Insights, the analytical and research arm of Optimove, has released its latest report titled Optimove Insights: 2024 Consumer Summer Shopping Report. This comprehensive analysis highlights current trends and behaviors shaping consumer shopping habits in the United States, particularly for summer shopping. The report confirms a significant shift toward a blend of Research Online, Purchase In-Store (ROPIS) as the primary shopping approach, led by Gen Z and Millennials. Optimove is the first Customer-Led Marketing Platform used by leading consumer brands.
The report provides essential insights for brands to meet and exceed consumers’ evolving shopping expectations. It emphasizes that consumer brands should have robust omnichannel capabilities, prioritize quality over price, focus on digital payments, and promote sustainability. By implementing these strategies, marketers can build deep, loyal customer relationships and effectively respond to evolving shopping behaviors.
According to Rony Vexelman, VP of Marketing at Optimove, “This report highlights that consumers have evolved into highly sophisticated shoppers. Smart consumers shop with smartphones. Consumers ‘Research Online, Purchase In-Store’ – even when they are in a physical retail setting. With the rise of omnichannel shopping and increased preference for digital payments, brands must adapt to meet the expectations of modern consumers. Prioritizing quality and sustainability will not only attract but also retain loyal customers.”
Key Findings:
Shopping Patterns and Preferences by Product Category:
- Soft Goods: 82% of consumers prefer to shop both online and in-store.
- Hard Goods: 84% prefer to see products in person, though many also utilize online research.
- Beauty, Health, and Cosmetics: 79% prefer in-store shopping for these tactile products.
- Travel: Predominantly purchased online, with 86% of transactions occurring via the internet.
(See Image 1)
- Digital Payments: The use of digital wallets has risen significantly, with 22% of consumers in 2024 preferring this method, up from 14% in the previous year.
- Quality Over Price: Quality remains the top concern for consumers when making purchases, with 77% ranking it above price.
- Omnichannel Shopping: About 83% of consumers check prices online while shopping in-store, indicating the necessity for retailers to develop robust omnichannel capabilities.
Generational Insights:
- Gen Z (b. 1997-2012): Digital natives who prioritize value-driven purchases, technological integration, and sustainability. They spend 8-10 hours per day online across various platforms.
- Millennials (b. 1981-1996): Influenced by the Great Recession, they seek value and experiences, extensively research products, and prefer brands with corporate responsibility and sustainability values. They are active online, spending about 7-9 hours daily.
- Gen X (b. 1965-1980): Cautious due to economic fluctuations, this generation values convenience and efficiency, prioritizes family needs, and is tech-savvy. They are preparing for retirement and balance current spending with future financial security.
- Baby Boomers (b. 1946-1964): Holding substantial economic power, Baby Boomers prioritize quality and reliability. Despite spending less time online, they are digitally proficient and favor email, news websites, and Facebook.
Economic Outlook and Spending:
- Increased Spending: More than a third of consumers plan to spend more in summer 2024 compared to 2023, supported by greater confidence in the economy.
Increasingly, consumers care about a brand’s commitment to the environment. Consumers have a growing importance on a brand’s commitment to the environment. In 2024, sixty-six percent (66%) of consumers found it extremely or very important, compared to 43% in 2023.
For more results and analysis download the report.
Report Methodology
The report is based on results from the Optimove 2024 Consumer Summer Shopping Survey that queried 307 U.S. citizens in April 2024. Respondents were 18-plus, 49% male/51% female (no respondents were non-binary or declined to answer), and household incomes were $75,000-plus.
About Optimove
Optimove is the first Customer-Led Marketing Platform. Its solutions ensure that marketing always starts with the customer instead of a campaign or product. Customer-led marketing has been proven to deliver brands an average increase of 33% in customer lifetime value.
It is the only customer-led marketing platform powered by the combination of 1) rich historical, real-time, and predictive customer data, 2) AI-led multichannel journey orchestration, and 3) statistically credible multitouch attribution of every marketing action.
In Gartner’s 2023 Magic Quadrant for Multichannel Marketing Hubs, Optimove was positioned the highest in execution and furthest in vision among Challengers. In Gartner’s companion report, Optimove was ranked #1 for Multichannel Marketing Journey Orchestration.
Optimove provides industry-specific and use-case solutions for leading consumer brands globally. For more information, go to Optimove.com.
About Optimove Insights
Optimove Insights is the analytical and research arm of Optimove, dedicated to providing valuable industry insights and data-driven research to empower B2C businesses.
Attachment
