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2020 Rebound: Top 10 Global Trends

Discover the top consumer shopping trends for the economic rebound. We're revealing the results of Criteo's global consumer survey conducted after the peak of the coronavirus crisis.

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2020 Rebound: Top 10 Global Trends

  1. 1. 1 2020 Rebound: Top 10 Global Trends Consumer Shopping Insights for the Economic Rebound
  2. 2. 2 February to March and declined again by 14.7% from March to April. As consumers start spending again and countries lift lockdown orders, will people continue the online shopping habits they started over the course of the pandemic? Or will they pick up where they left off and return to their favorite stores? We surveyed consumers starting in mid-May, and we heard from over 13,000 people around the world who experienced partial or complete lockdown at some point during the coronavirus outbreak. In this presentation, we're sharing the top 10 consumer shopping trends we learned from our survey to help businesses get reacquainted with their customers. After the peak of the coronavirus outbreak, retail sales are rising. Source: https://markets.businessinsider.com/news/stocks/china-economy-recovered-may-second-wave-adds-to-worry-2020-6-1029307703 https://asiatimes.com/2020/06/china-consumers-need-to-shop-till-they-drop/ https://www.npr.org/sections/coronavirus-live-updates/2020/06/16/876989156/retail-sales-bounce-up-17-7-after-record-drop-as-states-reopen The economy in countries affected by the coronavirus outbreak is beginning to stabilize. In China, where the first known case of COVID-19 was reported in November, retail sales were up 0.8% from April to May according to the National Bureau of Statistics. Compared to May 2019, retail sales were 2.8% lower in May 2020, but that decline is small compared to the 20.6% drop from February 2019 to February 2020. In the United States, the US Commerce Department reported that retail sales are already bouncing back and increased 17.7% from April to May—though retail sales remain 6.1% lower than they were in May of last year. In comparison, when the outbreak first began, retail sales fell 8.2% from
  3. 3. 3 By October, the Majority of Consumers Will Feel Comfortable Doing Activities Outside the Home When we conducted our survey in May, a portion of consumers said that they were already participating in activities like going to work and seeing their friends—it depended on the stage of the economic rebound in their country. However, most consumers, no matter where they live, say they'll return to work, socialize in person, and go shopping by October. 64% 62% 53% 46% 44% Returning to an office Hanging out with friends Going to a shopping mall Going to a restaurant (non-takeaway) Going away for the weekend By July 84% 83% 77% 73% 70% Returning to an office Hanging out with friends Going to a shopping mall Going to a restaurant (non-takeaway) Going away for the weekend By October When will you feel comfortable doing the following? 1 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=13,336
  4. 4. 4 But They Won’t Stop Doing the Activities They Enjoy at Home Half of consumers we surveyed said that they realized they liked being at home during quarantine and want to continue spending time at home. Others discovered that they enjoy cooking, reading, and communicating with friends and family via video calls. This increase in at-home activities will continue to drive shifts in consumer spending. For example, 37% of consumers across the world say they want to continue exercising at home, which creates demand for home exercise equipment and backyard sports items. 52% 46% 39% 37% 37% 34% 32% 30% 28% 26% Spending time at home Cooking at home Watching movies on platforms like Netflix Exercising at home Making video calls with my friends and family Reading books Sleeping more hours Purchasing goods online (non-grocery) Working from home Eating a balanced or healthy diet During the peak of the COVID-19 crisis, what have you discovered (or re-discovered) that you are likely to continue? 2 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=13,532
  5. 5. 5 Consumers Will Continue the Online Shopping Habits They Formed During the Outbreak Since March, we’ve been looking at weekly sales data from the 20,000 advertisers that work with us and saw online sales increase across most product categories. (Visit Criteo’s Consumer Insights Dashboard to see the latest data!) According to our survey, consumers said they plan to do the same amount or more online shopping in every product category—even as they start to do more activities outside the home, such as in-store shopping. Because of this, we expect online retailers to continue acquiring new customers. 81% 80% 77% 74% 68% 67% 70% 68% 64% Groceries Household products Beauty products or personal hygiene Cultural goods (music, books, movies, etc.) Apparel/accessories Toys and gaming Home goods Consumer electronics Beer, wine, spirits Consumers who say they’ll purchase the same or more of these products online in the next few months than they did during the peak of the COVID-19 crisis: 3 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=13,015
  6. 6. 6 Half of Consumers Discovered a New Form of Online Shopping At the peak of the outbreak in every country, shelter-in-place orders and social distancing rules prevented consumers from making their typical trips to the store. In our survey, we found that during this time, many people tried a new kind of online shopping for the first time—or for the first time in a while—that they liked and will continue doing. 30% 21% 21% 21% 12% 12% Purchasing goods online (non-grocery) Purchasing groceries online Purchasing through smartphone apps Ordering food for delivery Ordering goods (non-grocery) online and picking them up in store Ordering groceries online and picking them up in store During the peak of the COVID-19 crisis, what have you discovered (or re-discovered) that you are likely to continue? Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=13,015 *Unduplicated total 53% of consumers discovered at least one form of online shopping and want to continue doing it.* 4
  7. 7. 7 Consumers Will Stay Loyal to the New Retailers & Brands They Discovered Over a third of consumers we surveyed said that there were some ecommerce sites they purchased from for the first time as they shopped from home during the outbreak. Among these first-time buyers, 85% said they’ll continue purchasing from one or more of these stores. This means online retailers that acquired new customers during the coronavirus crisis are highly likely to keep these customers in the long term. 5 39% 85% of consumers around the world purchased from at least one online retailer for the first time during the peak of the crisis who purchased from an online retailer for the first time will likely continue buying from them Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=13,532
  8. 8. 8 Delivery, Price & Shopping Experience Will Drive Loyalty When we asked consumers why they’ll keep buying from new online retailers, it’s no surprise that fast, affordable delivery and price point are major factors in their purchase decisions. However, our survey shows that consumers value experience just as much, and investments in the online shopping experience can help businesses retain their new customers. 46% 46% 44% 44% 30% 21% 21% 20% 18% 17% Delivery is fast Their prices are attractive The overall purchasing experience is good Delivery is free or inexpensive I remain wary of going into physical stores Their products are unique The packaging is good The products they sell have become part of my lifestyle now They offered locally made products They make me feel valued What are the reasons you will keep purchasing from the stores you discovered? 6 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=4,986
  9. 9. 9 75% 83% 82% 78% 73% 78% 78% 75% 77% 82% 82% 78% Gen Z Millennials Gen X Boomers & Silent Consumers who say they’ll purchase the same or more of these products online in the next few months than they did during the peak of the COVID-19 crisis: Consumers in Every Generation Will Keep Buying Groceries & CPG Online Prior to the outbreak, consumers were slow to adopt online shopping for grocery and CPG—it was often more convenient to run to the store for these items. But online sales for groceries, household products, and beauty and personal hygiene products took off while consumers quarantined at home. 7 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=13,487 In our survey, all age groups said they’ll purchase the same or more of these products online in the coming months as they did at the peak of the crisis. For grocery and CPG businesses, it’s time to make a big investment in ecommerce and capture this new digital demand for their products. Groceries Beauty products or personal hygiene products Household products
  10. 10. 10 Consumers Looked Beyond Amazon to Buy What They Needed During the coronavirus crisis, consumers made first-time purchases from all types of retailers, including online grocery stores, small merchants, and direct-to-consumer brands. They didn't always go straight to Amazon. As consumers continue to purchase more products online and discover new ecommerce sites, it evens the playing field for all online retailers to compete with Amazon and capture market share. 41% 38% 31% 29% 28% Groceries/online supermarkets The online versions of physical stores I usually purchase from Mass merchants (stores selling multiple categories of products) Small merchants that I previously didn't know about Brands selling their products directly to consumers What types of stores did you purchase from for the first time during the peak of the COVID crisis? 8 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=5,231
  11. 11. 11 Older Adults Adopted Online Grocery and DTC Shopping at Almost the Same Rates as Gen Z and Millennials Baby boomers were actively online shopping and purchasing from new retailers during the peak of the outbreak—almost as much as their younger cohorts. The lesson for digital retailers: Don’t leave older consumers out of your target audience. 9 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=5,231 41% 36% 30% 27% 26% Gen X 36% 38% 31% 27% 32% Gen Z What types of stores did you purchase from for the first time during the peak of the COVID crisis? 45% 41% 34% 33% 31% Millennials 39% 33% 26% 26% 21% Boomers & Silent Groceries/online supermarkets The online versions of physical stores I usually purchase from Mass merchants (stores selling multiple categories of products) Small merchants that I previously didn't know about Brands selling their products directly to consumers
  12. 12. 12 1 out of 4 Younger Consumers Discovered In-App Shopping When we looked at the types of shopping every generation discovered during the outbreak, about a quarter of younger consumers started (or re-started) purchasing from apps. Criteo research shows that if you have a shopping app, your in-app buyers purchase more and have a larger basket size than your average customer. This makes them valuable to businesses with apps—but the challenge is keeping them engaged. It’s the right time to invest in the app experience and launch advertising campaigns to keep users coming back. 10 Source: Criteo's Peak to Recovery Survey, Global, May 13-29, 2020, n=13,487 24% 27% 23% 12% During the peak of the COVID-19 crisis, I discovered (or re-discovered) purchasing through smartphone apps and I am likely to continue: Gen Z Millennials Gen X Boomers & Silent
  13. 13. 1 2 3 13 Track consumer spending week by week In uncertain times, consumer spending patterns change quickly and vary by country and industry. It's important to know what your customers (and your future customers) are shopping for and meet their needs. Visit Criteo's Consumer Insights Dashboard for new updates every week as we analyze our data from the 20,000 advertisers who work with us. Reach active shoppers who are in the market for what you sell Many of the products your customers need for their new way of life are different than they were before the coronavirus crisis. To reach the people who are most likely to buy from your business, you need target audiences built from real browsing and purchasing data—not searches and likes. Click here to learn how to build audiences for your ad campaigns with Criteo’s real-time shopping intent data. Keep acquiring new customers Consumers are in discovery mode—they’re online shopping more, they’re buying certain products online for the first time, and they’re finding new websites for buying the things they need. After you attract a new potential customer to your website, bring them back to purchase using retargeting campaigns with personalized product recommendations that are relevant to the customer in that moment. Click here to learn more. What's Next? Ready to get started? Contact us today.

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