Shopper data reveals encouraging incentive-led purchasing
08 March 2023
We look into some of our customer data-driven and observations, to better understand the behavioural shifts in retail spending.
Trends that have defined consumer shopping behaviour in the recent past are set to continue into 2023. According to Urbis report, the Future of shopping centres retail and beyond, there is an increasing desire for experiences over material goods, greater want for convenience and connectivity, a further awakening of social and environmental consciousness, and a need for self-improvement, well-being and localisation.1
Retailers should be looking for non-traditional uses to drive visitation such as pop-up experiences, product trials, and ways to thrive during the night economy. Embracing technology to deliver e-commerce is also a must in 2023 to meet the consumer’s need for speed and convenience.2
Transformative shopping for 2023
Understanding seasonal behaviour changes through data science is critical for retailers to ensure the right omnichannel strategy is in place. Valuable customer data insights help deliver better products, services, and experiences to the communities they operate in.
Stockland Marketplace, is our e-commerce platform that easily allows our retail partners to capture local omnichannel revenue with a ‘click-and-collect ’ model. It’s a cost-effective way for our retailers to take business online and grow sales via the ‘endless aisle’. This also meets the need for convenience that consumers are after. “Shoppers want quality, diversity, ease-of-shopping and the ability to be in control of their experience,” says Stockland’s Brooke Lee. “But they value their strong connections to the community and sense of belonging, which is now more important than ever. Through a blended online and in-store omnichannel approach, we can deliver just that.” This approach can be leveraged throughout the year and in key peak seasons to stay connected to customers.
Positioned for success
Brooke Lee noted that “Our research confirms that shopping centres are still customers’ preferred way to shop during the key sales periods. The tangible, in-centre experience remains unmatched, and we anticipate a further uplift in supermarkets as people prepare for their special occasions.’
Shopping centres stand to carve out a bigger role in the retail landscape as established centres of retail activity to build on. They are best positioned to invest in and service omnichannel retail.2
“It is of course advisable to sure-up supply chains and predict appropriate stock levels as much as possible ahead of the mid-year sale shopper influx.”
Brooke Lee also says Stockland Marketplace will make it even easier to accommodate mid-year demand, saying “Our shoppers have an expectation that their digital world and physical world integrate seamlessly, whilst still being able to experience physical destinations in the way that they prefer.
“The right omnichannel balance will come from delivering-on our shopper needs and integrating the online experience with elevated in-person shopping through our welcoming initiatives. Advanced ordering, click-and-collect, and other convenience-related services will further-position our retail partners to deliver on these expectations,” Brooke Lee concluded.
Entering a New Year always brings new challenges and opportunities and we’re in the position to help meet today’s demands.
Enquire today with team from Stockland Marketplace and connect with your local customers in new ways.