Quick Analysis of Consumer Attitudes and Behavior for 2018

PwC Global just released its 2018 Consumer Insights Survey. To gather the data, the company surveyed 22,000 consumers in 27 territories.

Fortunately, there’s lots of good news to report. So let’s get right to the highlights:

1. Consumers Are Economically Optimistic

Consumers in general have great optimism about their local economies. As you know, that increases their willingness to spend. And that’s exactly what consumers plan to do.

Their desire to spend includes both online and at brick-and-mortar stores. And their optimism extends years into the future.

2. What Consumers Will Pay More For

Where does the opportunity lie? In the near future, much of it revolves around same-day shipping. Consumers will pay more to have you do this.

If there’s any way you can make this happen, even if only in select areas, you’re doing yourself a huge favor.

3. The Role of AI Devices

Alexa and Google Home are in the early stages of adoption yet. Men 18-34 use them most frequently.

These consumers will buy in bulk. 18% say they spend more now that they have an AI device. And 25% expect same-day delivery.

Brazil, China, and Southeast Asia have the greatest growth potential and most consumer interest in adding these devices to their home.

Should drone delivery become a reality, 40% of consumers say they’re willing to purchase and get a delivery by drone.

4. Consumer Habits

Believe it or not, the number of weekly brick-and-mortar shoppers increased from 40% in 2015 to 44% in 2018.

To understand what they want to purchase, consumers turn to social media first and foremost. 37% want to learn from social media influencers or their own friends, while just 34% turn to retail websites to learn what they like first.

Purchases by personal computer have fallen from 27% to 20% from 2010 – 2015. However, purchases from smartphones increased from 7% to 17% over the same time frame.

Just 14% of those surveyed expressed a willingness to purchase as a result of email.

Savvy retailers will put together these facts and create business and marketing systems that keep their revenues healthy – even as Amazon continues to lead the marketplace.