Report: Shoppers Want Connected, Curated & Convenient Experiences

A new report from financial services company Synchrony, dubbed “The Future of Shopping,” reveals that consumers seek hyper-personalization that simplifies choice and flexibility — or, in other words: connected, curated and convenient experiences. 

The research also indicates that retailers who prioritize an experience-driven shopping strategy will prevail if they continue to innovate and differentiate with new technologies. 

Based on survey of 1,000 U.S.-based consumers, Synchrony’s study found that while online shopping has increased among many shoppers, in-store shopping is still the preferred method for nearly as many consumers. According to the report, 38% said they are shopping more online than they did two to three years ago, but 31% said they shop more in-store than online.

Additionally, the report credits the proliferation of retail channels, formats, platforms and intermediaries for fragmenting the shopping landscape over the past few years and creating stress for both shoppers and retail strategists.

Connection

Synchrony says that, moving forward, the focus should be on developing more connected experiences across channels, brands, online and in-store. Outstanding customer service and brand ambassadors are key to helping consumers gain insights and drive loyalty, according to a recent media release detailing the report’s findings. Of the shoppers surveyed: 

• 67% believed a world where multiple brands created joint offers would enhance their experiences across channels.
• 42% would be likely to register or participate in future experiences where brands offer a range of connected shopping options, such as a mobile app that connects a concert ticket purchase to a customer’s calendar and suggests an outfit for the event and where to buy it.
• 52% said they would be interested in an in-store engagement where the associate leverages crowd-sourced ratings combined with customer preferences to deliver recommendations in real time to their phone.

Curation

“While providing a range of options to customers has always been a hallmark of best-in-class retail brands, the explosion of choice and increased opportunity has led to a heightened need for more curation and customization,” according to the release.

Shoppers are increasingly turning to intermediaries to help guide their purchase decisions and narrow down choices, which can have a major impact on brands that don’t make it through these filters. 

The research found that, in the future, shoppers would like to reduce the range of available products presented to them. Furthermore:

• 62% of shoppers surveyed believe their shopping experience would be simpler if stores offered fewer choices.
• 81% expect to see hyper-personalization or “just for me” options rolled out by 2030.
• 55% expressed an intent to use on-site personalization services if they were available.
• 28% claimed they would be open to sharing data with brands in exchange for benefits, though more than half (52%) still have concerns about sharing personal data.
• Roughly two out of three (62%) of Americans trust online recommendations if they’re from a well-known site or app, per a 2023 Ipsos Global Trends report.

Retailers should focus on specific categories, needs and consumer trends when creating engaging experiences that promote customer loyalty and maintain repeat sales, the report implies. 

Convenience

Another notable finding in the report is that while shoppers have always cared about convenience, many shoppers today are more concerned with the flexibility, access and speed of their experience. According to the report:

• 64% of shoppers surveyed believe that shopping will not be an isolated activity in the future, and instead brands will reach them through “separate but linked” activities (e.g., social media scrolling linked to geo-location recommendations while out on a walk, or metaverse brand interaction directing shoppers to nearest physical location with tailored recommendations).
• 67% agreed that smart carts would enhance their lives, while 75% believe they would be a possibility and popular over the next seven years. 
• In-store self-checkout machines are now commonplace.
• 73% of shoppers agree that technology makes shopping more convenient.

“Our study found that shopping does not happen in isolation, but rather with connected ecosystems driven by unique technologies that play a critical role for retailers seeking to meet these consumer demands,” Florin Arghirescu, Synchrony’s senior vice president and chief product officer, said in the release.