We have seen endless trends come and go, but since the inception of Retail Traffic Trends, Buy Now Pay later has become a bedrock in the industry.
Shoppers are becoming so comfortable using these types of services that 57% of shoppers in a recent survey said using buy now, pay later services could replace their credit card in the future.
This week we look at trends that have proven the test of time and discuss the effect rising gas prices have had on foot traffic.
THIS WEEK’S HIGHLIGHTS
- Doorcounts webinar: This week will be open-ended for any questions you may have. Join us at 9 AM PST / 12 PM EST as we go over the report customizations.
- Test of time: Stay up-to-date on the current trends that are here to stay.
Foot traffic: The factors impacting where shoppers go and when.
FOOT TRAFFIC INDEX
Here’s a look at last week’s foot traffic compared to the same time last year.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
Trends prove the test of time
Since the inception of Retail Traffic Trends, we have been discussing the new trend of buy now pay later.
Nearly a year later, buy now pay later is a bedrock in the industry that has been widely adopted by consumers. A recent survey found that 80% of US shoppers use buy now pay later options such as Klarna to avoid credit card debt.
Shoppers are so comfortable using these types of services that 57% of respondents said using buy now, pay later services could replace their credit card in the future.
Although many trends come and go, certain trends such as BOPIS, curbside pickup, and buy now pay later have proven the test of time.
Food and gas prices halt foot traffic
As I think we can all relate, a trip to the gas station or supermarket is now becoming more and more painful.
With prices continuing to rise, shoppers are beginning to consolidate their shopping trips and trying to make the most out of each outing. Over the last year, discount and dollar store visits are on the rise while supermarket visits dwindle.
Companies such as Costco have seen traffic at their gas stations nearly double year-over-year, and continue to benefit from shoppers consolidating their shopping trips and gas runs into one.
Click HERE to learn more about how consumers are shopping with inflated prices.
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