Retail Execs Are Dangerously Out of Touch with Shoppers’ Digital Obsession

December 7 2020 by Kate Nishimura for Sourcing Journal

Consumer behavior has been rapidly evolving, and in light of this year’s Covid crisis, purchasing patterns have been trending even more heavily toward digital.

While the continued growth of e-commerce should come as a shock to no one given this season’s record-breaking online holiday sales, new research from First Insight shows that senior retail executives aren’t as attuned to shoppers’ developing needs as they should be. The retail product decision platform surveyed both brand leaders and consumers, and found glaring misalignments between the widespread desire to buy online and companies’ efforts to bolster their digital offerings.

This holiday season, the majority (59 percent) of survey respondents plan to patronize web-based retailers in search of gifts for their loved ones, and likely, themselves. But only about one-third (35 percent) of decision-makers said they believed shoppers would rely on e-commerce for gifting—despite the surge in Covid cases currently ravaging the nation’s brick-and-mortar businesses.

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holiday  consumer preferences  CONSUMER REPORT  Senior Retail Executives  Holiday Shopping  Holiday Season  Consumer Purchase Behavior

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