Many shifters prefer digital life over physical

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Retail will never be the same it was just 15 months ago. Yet what started out as an emergency is evolving into something else: the much discussed but rarely defined “next normal” of living, shopping, paying and interacting in a booming digital world.

For the latest installment in PYMNTS ‘Pandenomics series, Consumers and the New Retail Landscape, researchers surveyed 2,225 consumers to create a 3D view of shopping and payment trends as vaccinations and other factors influence consumer decisions online and offline.

As for the march of science, the Pandenomics study from May 2021 notes that nearly 60% of those polled have received at least one vaccine vaccine, noting that “vaccinated consumers have different internal options than those without. vaccinated in many states, as flexible, not left behind. seats and unmasked seats at sporting events and theaters. “

The options for re-engaging in the physical world are great for the vaccinated, but that doesn’t mean people intend to give up all e-commerce activities and head to the mall. The digital habits acquired during the pandemic are sticky because they make life easier.

Not all vaccinated people want the ‘old ways’ to return

A perfect illustration of why even those vaccinated are sticking to digital can be found in the new Pandemonics report, stating that “most consumers (52%) have embraced the use of digital shopping aggregators, such as Instacart or Grubhub, which allow them to shop or order in multiple stores or restaurants at once. A large portion of consumers who have increased their activity for a range of tasks that include grocery shopping or retail shopping since the start of 2020 cite saving time as the main reason they want to maintain these altered behaviors for an activity ( 60%) or two or more (72 percent). “

It started as a security measure, but the connected omnichannel commerce web is emerging as a powerhouse of payments technology, analytics, and logistics, creating compelling new models.

In fact, PYMNTS researchers found data to suggest that “fully vaccinated digital shifters may be less likely than non-changers to implement their plans to re-embrace public recreation activities. This may be because digital shapeshifters are still reluctant to return to familiar activities, even with more free time, due to digital choices that save time, or because those activities have become less attractive over time as a result of because of the comfort of individuals with digital interactions. This finding indicates that new patterns of digital controller behavior may persist. “

This begs the question: can reality compete with the virtual world? It’s possible, but merchants need to speed up their transformation schedules and make stores behave more like websites and apps.

New digital options take the “familiar local favorite grocers alongside national retailers with same-day shipping, large inventory and frequent clearance prices,” which “largely motivates local retailers to get consumers back in business. exterior and interior, ”according to Pandenomics. “The majority of consumers have used digital shopping aggregators, but the most likely to adopt are millennials (81%), Gen Z (80%) and consumers who earn more than $ 100,000 per year (58%). “

Possible implications for delivery aggregators

A careful reading of the latest Pandenomics report reveals that despite the allure of the sheer efficiency of digital life first, it is going to be tested by the return of the real world.

“Users of fully vaccinated delivery aggregators increased the frequency of their shopping at grocery stores more than non-vaccinated users (27% vs. 11%, respectively), while shopping at retail stores other than grocery stores.” (28% vs. 8% for non-users) and eat out (23 percent vs. 8 percent for non-users), ”according to the new report.

Unvaccinated consumers using delivery aggregators “also show greater enthusiasm for future in-person leisure activities, unlike other consumers,” according to the new study. “This may be due to their interest in activities that save them time and free them up to pursue activities that they would otherwise have missed.”

If we haven’t learned anything else, it’s that things can change faster than we thought possible. From this point in time, new patterns are still forming. However, these data clarify some things.

“Despite the availability of the vaccine and the easing of restrictions on the opening hours of stores and restaurants across the country, most respondents still appreciate the efficiency of the delivery of food and groceries,” said the new Pandenomics report. “This is not surprising, because consumers – who spend an average of 16 hours a day consuming digital media online – would have little incentive to ditch the digital behaviors at hand and save them money. time in a few clicks. Three-quarters of digital movers say they will maintain at least one behavior change they have acquired during this eventful year. “

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NEW PYMNTS DATA: CRYPTOCURRENCY PAYMENTS STUDY – MAY 2021

About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million people plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, the crypto they plan to to use – and how merchant acceptance can influence merchant choice and consumer spending.





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