The Vibe Shift Is Here
A little over a year ago, I read an article in The Cut, titled “A Vibe Shift Is Coming: Will Any of Us Survive It?” That article, which explored the cultural shift on the horizon, went viral and became the fodder of many discussions I had with brand marketers and retailers over the last year. (If you haven’t read it, I highly recommend you look it up!)
Consumer trends — and society overall — are changing in ways we can no longer anticipate, making it increasingly hard to predict the ever-moving target of shopper behavior. As we set out to develop this year’s Future Forward conference, which is dedicated to demystifying the new consumer and the next era of commerce, helping our audience navigate this “vibe shift” came to the forefront. And that’s why I am beyond excited to share that trend forecaster Sean Monahan — founder of 8Ball and the person behind the central concept of the vibe shift — will be kicking off Future Forward as our keynote speaker on day one of the event, which takes place May 16-18 in beautiful New Orleans. You can sneak a peek at what else is in store at Future Forward here.
Also aligned with our efforts to help marketers better understand today’s shoppers, in this issue of P2PI Magazine we’re revealing the findings of our second annual consumer study that examines the evolution of the in-store shopping experience. Our latest research — which polled more than 1,000 consumers — provides updated insights into shopping patterns, new areas of opportunity and the factors that could influence future behaviors. While e-commerce is certainly still going strong, the physical store remains the dominant channel for purchasing. In our survey, in-store trips accounted for at least two-thirds of shopping across categories.
Not only are shoppers still heading to physical retail, but they are also shopping in stores more often. Compared to a year ago, shoppers frequenting grocery stores increased 22%, while those visiting mass retailers rose 14%. While fewer in-store trips are noted for office supplies, sporting goods/outdoor activities, electronics and home improvement, the data across the majority of categories demonstrates a frequency increase from 2022. Also worth noting are the changes in shopping habits reflected in responses from younger, Gen Z and Millennial shoppers. They indicated shopping in physical stores more often compared to a year ago, and spending more time while they are there.
The research reveals some consistencies with 2022’s results, while also illuminating some interesting areas of opportunity. I encourage you to dig into the rest of the research findings to learn how you can better connect with in-store consumers in 2023 as you set out to redefine the touchpoints along truly omnishopper journeys.
