Hi, I'm Elizabeth Lafontaine, chief retail analyst, here at Retail Leader Pro, and welcome to this week’s Retail Minute.
This week, I want to dive deeper into the topic covered in my Trend Watch this week, or the idea of mission driven shopping. According to Placer.ai, one of the trends observed in grocery shopping leading up to Thanksgiving was the idea of consumers taking multiple trips to different grocers to complete their shopping based on pricing and or to a particular store’s specialty. So, in essence, a consumer might grab their turkey at Costco, their appetizers at Trader Joe’s and any last minute needs at a supermarket local to them. This idea of mix and match shopping truly puts the consumers in the driver's seat of their retail experience and allows them to focus on specialties instead of a one-stop shop. I’ve also observed this same trend in how consumers dress themselves. Very rarely do consumers want to dress head to toe in one brand.
This trend almost feels counterintuitive for today’s consumer in the sense of how much consumers value saving time and enjoy the convenience of a shopping trip. But, I think beyond that, consumers are confident in knowing what they want, and are savvy enough to understand where to source those goods from that will make their life better.
Mission driven shopping behaviors showcase the value of the retail experience from all angles within the consumer ecosystem. Retailers really need to lean into their area of expertise and message that to the consumer to build loyalty in that specific occasion.
From all of us at Retail Leader Pro, have a great weekend and we will see you next week.