Knowing that consumers today are adept at balancing frugality and indulgence, in 2024 we expect to e-commerce to take on an even more dominant role, and in-store shopping to make a major comeback.

This week, we explore how impulse buys are slowly disappearing and look forward to trends we expect to see in 2024.

THIS WEEK’S HIGHLIGHTS

  • Social success: Getting to understand social media data’s rising influence on business success.
  • Doorcounts is becoming Trakwell.ai: Click HERE to learn more.

  • OUT NOW – Q2 2023 Benchmark Report: Click HERE to see how your store compares to the industry average.

FOOT TRAFFIC INDEX

week 42 2023 foot traffic counts

FOOT TRAFFIC TRENDS

Industry insights so you can convert your foot traffic into more sales.

Long-live impulse buys

The third annual Product Content Benchmark Survey reveals consumers, on average, conduct research online before 61% of shopping trips, a 25% increase from 2022.

To ensure they are making the right purchase, 35% of consumers are deploying Augmented reality during mobile shopping and 57% relying on these tools to help visualize product dimensions.

As we mentioned last week, spending this holiday season is expected to rebound to – and even surpass – pre-pandemic levels this year for the first time. Surprisingly, 66% of shoppers say they have purchased an item online in the last 12 months that they previously only ever bought in-store during the holiday season.

Lastly, the survey found that the average shopper predicts they will do approximately 60% of their holiday shopping online.

Click HERE to learn more.

2024 Trend Watch

Knowing that consumers today are adept at balancing frugality and indulgence, in 2024 we expect to e-commerce to take on an even more dominant role, and in-store shopping to make a major comeback.

The majority of consumers now use at least three channels for each purchase journey. And while 75% of consumers want a seamless omnichannel experience, only 25% are satisfied with the experience that retailers provide.

As we keep seeing more and more, consumers are gravitating toward sustainable products. 84% say that sustainability is a very important factor in their purchase decisions. However, 50% say they’re not sure whether they would pay a premium for sustainable products in times of inflation.

Click HERE to learn more about consumer behavior.

Retail Snippets

In-store only: HomeGoods shuts down its online shopping.
 
Social success: Getting to understand social media data’s rising influence on business success.


Busted: 14 charged in massive $20 million South Florida retail theft ring.

Random Irrelevance

Doorstep delivery: NASA is struggling to open its asteroid sample container

 
Robo-warehouse: Amazon tests two-legged, mobile robots in their warehouses.


Weather toy: The real problem behind why Apple’s weather app is so bad.