3047 CommerceTrends_NL 2023 LR los

RETAILERS NEED TO BECOME MORE TRANSPARENT AND ULTIMATELY PROVIDE CONSUMERS WITH COMPELLING INCENTIVES TO ALTER THEIR SHOPPING HABITS.

Change Ultimately, the onus is on the retailer to initiate change. When retailers were asked to select their top 3 business priorities for 12 months, only around 1 in 5 retailers called out creating a more sustainable and environmentally aware supply chain (21%) and doing more to minimise the environmental impact of their organisation (22%). I believe, broadly speaking, that consumers want to make better choices but the lack of awareness, lack of alternatives and perhaps a view that the onus should be on the retailer – not the consumer – to fund this shift is hindering progress. Consumers may think of themselves as altruistic, but at the sake of convenience? I don’t think so. Retailers need to become more transparent and ultimately provide consumers with compelling incentives to alter their shopping habits. Perhaps we will only see meaningful change with regulation, but as a starting point retailers should be prioritising operational efficiencies that allow them to simultaneously progress the sustainability agenda. After all, financial and environmental sustainability often go hand in hand.

Smarter decisions And, with many retailers now able to provide near real-time inventory visibility, consumers can make smarter decisions about which stores to visit or which delivery options to choose, which can significantly minimise miles travelled and open up a variety of greener last-mile delivery options. Retailers are still in the nascent stages of giving customers greater control post-purchase, but this will evolve in the future as retailers recognise the triple benefits - profits, pockets and planet. So what exactly can be done? Offering no-rush/green delivery, letting shoppers select the day of their delivery, encouraging shoppers to consolidate orders and even letting them make basket edits after the transaction. That’s right, in the future, more retailers will allow shoppers to alter online orders right up to the point a shipment leaves the warehouse, store or microfulfilment centre. With these longer ‘order modification’ grace windows, retailers can not only enhance the customer experience but also reduce split-shipments and, in theory, unnecessary returns.

Environmentally friendly Cheaper delivery Environmentally friendly Cheaper product Environmentally friendly Cheaper brand Environmentally friendly Quicker delivery

45%

IN AN IDEAL WORLD, TAKING A LOOK AT THE FOLLOWING PAIRS OF PRIORITIES, WHICH WOULD YOU RATHER CHOOSE? Based on a survey conducted by Manhattan among 6,000 consumers in 12 countries and 4 different continents

55%

45%

55%

48%

52%

53%

47%

Cheaper delivery Cheaper product Cheaper delivery Cheaper brand Cheaper product Cheaper brand Cheaper product Quicker delivery

47%

53%

57%

43%

66%

34%

65%

35%

Cheaper brand Quicker delivery

58%

42%

2023/2024 - COMMERCE TRENDS

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