Deloitte Consumer Review: serving the connected consumer
Deloitte Multichannel Consumer Survey and Deloitte Consumer Tracker results
Online technology is having a game-changing impact on consumer behaviour, well beyond any temporary impacts of economic downturn. A more complex, resourceful and confident consumer is emerging and consumer-focussed businesses need to understand the implications of behavioural changes and adjust strategic priorities accordingly.
This first edition of the Deloitte Consumer Review draws upon the results of Deloitte research into multichannel consumer behaviour undertaken in the United Kingdom to examine the dynamics that influence decision-making at key stages in the shopping journey.
Australian retail sector readers will be interested in the implications for high street restructuring of the extent of digital influence on non-food retail sales. Australian tourism, hospitality and leisure sector readers will be interested in statistics indicating a sector dominated by digital behaviour, the associated development of new travel sector retail formats, the growing proportion of consumers now booking through mobile device and smartphones; and the growth in influence of consumer ‘ review’ sites.
Deloitte Consumer Review is divided into three sections:
- Consumer focus: distils and aggregates key messages for a chosen trend based on Deloitte research
- Client imperatives: poses a series of questions businesses need to answer when considering the impact of consumer trends on their strategy and operating models
- The Deloitte Consumer Tracker: forward-looking economic update focussed on consumer spending attitudes and behaviours on a category by category basis.
Some key findings
The Deloitte Multichannel Consumer Survey
- Digitally influenced shoppers spend more per transaction than ‘store only’ shoppers, with digitally influenced shoppers accounting for about 40 per cent of the total value on non-food transactions
- Consumer shopping habits vary considerably across sectors. Travel is dominated by ‘direct only’ transactions with 80 per cent completed online, while half of electrical goods transactions are influenced by some form of digital interaction, compared with only 1 in 5 in clothing and 1 in 4 with home ware. ‘Store only’ remains the biggest single channel for non-food transactions (excluding travel) with 72 per cent of total volume, while online represents 16 per cent and multichannel 12 per cent
- Consumers are engaging across an increasing number of touch points as 44 per cent of the UK consumer have used price comparison websites, 23 per cent accessed consumer-led online reviews accessed consumer-led reviews and 19 per cent have taken advantage of voucher code sites.
The Deloitte Consumer Tracker
- Declining disposable income and the uncertain economic outlook are combining to undermine consumer confidence
- Consumers are reducing discretionary expenditure and increasing savings
- Consumers are adjusting their patterns of expenditure to make the most of reduced budgets.