New consumer behaviours, new business solutions

PwC’s Global Consumer Insights Survey 2018

The evolving consumer behaviours we see evidenced in the data from PwC’s Global Consumer Insights Survey are driving new business models. Here are some of the trends that are driving innovation at retailers and consumer companies:

  • We found that 59% of our global respondents shopped at Amazon or its Chinese equivalents, online retailers JD and Alibaba’s TMALL.
  • The percentage of our global sample who said the shop only at Amazon increased from 10% to 14%.
  • Over the course of six years of doing this consumer research, the number of our global respondents who shop via their mobile phone has grown by 133%.

Connecting directly with consumers

While it’s true that the big names in e-commerce are cornering the market for efficiency and convenience, manufacturers and retailers have plenty of room to develop business models around differentiation and personalisation. For example, many manufacturers are now reserving their hottest new products not for their retail partners, but their own direct-to-consumer channels.   

The opportunity for new entrants is clear

E-commerce still represents less 15% of global B2C commerce, so the opportunities are out there for innovators and new entrants. Boxed.com, started in a garage in New Jersey, differentiates itself by offering bulk-size consumer packaged goods specifically to customers who’d rather not drive to warehouse stores, charging by offering a narrower selection.

How the old model can stand up to new models

Despite the digital disruption in the retail industry, people are still shopping at bricks-and-mortar stores. For example, the percentage of shoppers who said they visited a physical store at least weekly was 42% in 2012 and 44% in this year’s survey. So one way for retailers to compete with new business models is by captivating those consumers that are actually visiting their physical locations. 

Contact us

John G. Maxwell
Global Consumer Markets Leader, PwC United States
Tel: +1 (646) 471 3728
Email

Oz Ozturk
Global Consumer Markets Advisory Leader, PwC United Kingdom
Tel: +44 (0)7703 563 054
Email

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