Consumer behaviour data defining the new retail
Written by Rachel Ann Kreis ·
There’s no denying that the retail industry as a whole is experiencing a moment of stark transformation. But are all retail categories being affected equally by this colossal shift? That’s exactly what we wanted to find out. We dug deep into our consumer behaviour data to find out which trends were impacting the performance of different retail categories across the spectrum.
Consumer spending trends in the UK
Our data reveals that total offline spending on retail was down nationwide throughout the course of 2018. Nevertheless, retail spending picked up slightly at the beginning of the year. It’s easy to see how rising uncertainty regarding the upcoming Brexit deal took its toll on consumer morale. Let’s see how four more categories out on the high street performed in 2018 in the UK.
It appears the situation is far grimmer than what was previously imagined for department stores. Times are troubled for the likes of John Lewis and House of Fraser who have carved big names for themselves in the British retail history. What can these staple brands do to reinvent themselves and make their retail networks thrive once again? The answer lies in reconnecting with the consumer.
Consumer behaviour data and the future of retail
We’ve been focusing far too long on the movements retail brands themselves have been making. This has thrown retail off orbit, distracting professionals from the root cause for the transformation of the industry: changes in consumer behaviour. The time has come for us to recenter our attention on the trends driving these shifts in consumer habits and preferences. We’ve compiled the key findings for 2019 behind this paradigm shift in retail into an exclusive data report.
What story does the data have to tell for retail this year? Get access to exclusive consumer behaviour data trends in our latest industry report.