Consumers’ shopping behavior has undergone a huge transformation in the last two years. With the pandemic and stay-at-home orders in 2020 resulted in most retail stores scaling down operations. On the other hand, online shopping of goods and services surged exponentially, as per the Daily Star report. Multiple surveys conducted by PwC between July-December 2021 show, consumers’ shopping behavior remains optimistic despite pandemic headwinds. Covering 9,370 individuals across 26 countries, the survey shows marked improvement in optimism amongst vaccinated individuals. Around 66 per cent of surveyed vaccinated individuals remain optimistic about the future.

Hybrid working styles and smartphone usage

The optimism is also boosted by their flexible working styles. Most individuals adopted a hybrid model of working and are spending more time and money on shopping. Increased use of smartphones has also added to shoppers’ current optimism,says the PwC survey. Compared to 39 per cent six months, 41 per cent respondentsnow shop daily or weekly using mobiles or smartphones. Greater proliferation of smartphones in emerging markets like Bangladesh, India and Vietnam is likely to fuel this trend further amongst consumers. Currently, 53 per cent shoppersin India use mobiles and smartphones daily or weekly to make new purchases. Around 47 per cent respondents also visitphysical stores every week.

Higher research on products and services

Work from home trend enabledcash-affluent consumers to invest more time in shopping for their preferred products and services. They could spend a significant time on researching about a particular product or service. Consumers also opted for more sustainable products and services. They became more concerned about the environmental, social and governance factors influencingfashion production across the world. They are now opting for more eco-friendly products, having dual effect on fashion manufacturers in Bangladesh.

Trace data origins

Retailers need to start sharing information with consumers to ensure complete transparency. They also need to modernize their technologies andmake data collection more efficient by including the origins of production in data and convey it to consumers. Apparel manufacturers also need to review and reconfigure their production process for overseas consumers. They need to adopt new technologies and introduce sustainable production processes.

The shopping behavior of consumers is evolving rapidly and will continue to do so in future. Retailers need to speed up and reconfigure operational strategies to address these evolving needs.