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The Increasingly Thoughtful Customer

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The Increasingly Thoughtful Customer

In Parts 1 and 2 of our Inflation Report, we looked at the cross-generational impacts of inflation and how global price rises on daily necessities are impacting consumer habits respectively. 

In Part 3 of the report, we turn our eye to how inflation is leading to a new consumer mindset overhaul – one less inclined to discretionary purchases, yet at the same time more willing to potentially try new retail options. 

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Rising Prices, Changing Habits
Last week we shared the first of a four-part look at the ways that inflation is impacting the retail landscape, with exclusive findings from our latest consumer report. While in Part 1, we explored the varying impacts of inflation across the generations, in Part 2, we take a look at how the inflationary impact on essential consumptions, like groceries and petrol, is shaping the way the modern consumer approaches retail.
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Why Inflation Doesn’t Impact Everyone the Same Way?
While it would be nice to say it’s been a long time since retail was met with a singularly dominant challenge, the global cost-of-living crisis has picked up the reins from where COVID-19 left off. 
Tis the Season of Shifting Shopper Priorities
Tis the Season of Shifting Shopper Priorities
This is certainly true in the retail world as the culmination of asking all the right questions prior to the holidays leads to hope that it positions retailers for a successful selling season. However, inflationary and economic pressures have set the stage for shifting holiday priorities. Here are a few that are most top of mind for retailers.
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Webinar Recap – Navigating Economic Uncertainty
The retail space is entering a period of change. There is no denying the effects of the 2020 pandemic have changed consumers’ shopping habits. George Mason University’s Center for Retail Transformation invited four panelists to explore the state of retail in a time of economic uncertainty. 
Consumer Behavior in Times of Inflation Presentation
Webinar Recap – Consumer Behavior in Times of Inflation
An increase in inflation has prompted shoppers to change their spending habits, especially in the retail sector. Joe Skorupa, retail consultant and Editor at Large for RIS News, an EnsembleIQ media portfolio, teamed up with TruRating’s Chief Data Officer Gareth Johns to discuss the changes in consumer behavior in times of inflation.
Mitigating The Impact – Part 2
Mitigating The Impact – Part 2
Customer loyalty… is there anything more elusive, yet more vital, to a retailer? And right now, with inflation, fuel price hikes and shortages affecting shopping behavior across the board, customer retention is even more essential.
Mitigating The Impact – Part 1
Mitigating The Impact – Part 1
How top retailers are staying competitive when consumers are shopping less. Inflation is hitting 40-year highs across the globe. Combined with price hikes due to shortages, we’re seeing some real impacts to shopper behaviors.
Webinar | Conversion, Loyalty, and Repeat Visits
Webinar Recap – Conversion, Loyalty, and Repeat Visits
This month’s webinar focused on Conversion, Loyalty, and Repeat Visits. Our Chief Data Officer, Gareth Johns, highlighted the three main areas to achieve customer loyalty, sale conversion, and repeat in-store and online visits.

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