Inflation and online sales create a consumer profile focused on price, experience and fast delivery

The increase in the price of products, the shortage of inventory and the growth of e-commerce have created a new consumer profile, one that compare pricesyou are looking for a good shopping experience and you want your products to arrive quickly, this is what PWC announces.

The study Global Consumer Insights Survey 2022, Mexico chapter, highlights that consumers buy omnichannel, that is, they combine purchases in the physical store and online; however, four out of 10 respondents are inclined towards digital purchases in the face of inflation.

This may be due to the ability to visit multiple sites to find the best price and product availability. In addition, for 50% of those surveyed, the increase in prices directly impacted their consumption across physical and digital channels.

Competitive costs and good quality

How can organizations adapt to new demands in consumer habits? Faced with this scenario, organizations need to ensure that align your physical and digital strategyunderstanding that the omnichannel shopping experience is a value offer, where the entire purchase journey (before, during and after) is essential to retain and attract customers.

“Given the great possibility that prices continue to rise and that supply chains require more time to resume their normal operations, a strategy is necessary where competitive costs and the offer of products or services of good quality they stay in balance”, emphasizes Jorge Sentíes, Partner of Strategy, PwC México.

Environment, takes strength in purchasing decisions

Despite the fact that inflation has generated an effect on consumption habits, people value products that are responsible with the environment, the local economy and customization, in fact 51% of those surveyed would be willing to pay a higher price for products made from recycled materials; while 48% would go for locally manufactured or custom-made products.

“Companies that conduct themselves with more transparency and responsibility have greater possibilities of increasing their profitability. Understanding that consumers possess and use information on this matter to make a purchase decision is part of this effort. People are redefining their concepts when they consider that a product is of quality when, due to its durability, it has less impact on the environment and, in addition, it was produced under socially responsible practices”, explained Sentíes.

experience and confidence

The augmented reality and the metaverse they take on greater relevance in the shopping experience, since more and more companies use technological tools so that users can try and learn about new products.

These technologies also allow generating greater interaction with the consumer and obtaining information about their tastes and interests and possible changes in them.

The confidence also plays an important role, since organizations that conduct themselves with more transparency and responsibility are more likely to increase your profitability.

This item takes more weight when it comes to sharing information or personal data. The more consumers trust, the more willing they are to share their information.

According to the study, 71% of people would share their data if there is a clear data protection policy, another 59% would do so as long as it is not shared or sold to others and 52% would do so in order to achieve a personalized and improved shopping experience.

Companies need to have the ability to adapt to the changing consumer environment, although the consumer seeks faster, more effective and informed purchases, they also expect omnichannel shopping experiences that respond to these needs, while adjusting their budget to price increases.