Last week Incubeta’s Business Director Amy Jackson hosted an Incubeta Ignite session with India Doyle, Senior Commissioning Editor at Canvas8 to discuss retail and the role that digitized journeys and consumer behaviour play in the industry.
Matilda Rose Moir
Canvas8 is the global leader in behavioural insights operating out of London, New York, and Los Angeles, helping organizations understand people so they can make better strategic decisions. As Senior Commissioning Editor India leads research on behavioural and cultural change for the Canvas8 Library, ensuring that global brands stay connected to their audience.
Focusing specifically on retail, India and Amy discussed the top 3 key trends that Canvas8 have identified as impacting the industry; Digitized Journeys, Signalling Solidarity and Sustainability Struggles. We’ve put together some of the key takeaways from this 20 minute video session below.
When we discuss digitized journeys, we’re talking about how digital is being injected into physical retail spaces to ease navigation for shoppers. In order to respond to the pressure of Covid-19 the high street had to pivot substantially – a matter which had a resounding impact on both consumer behaviour and trends. The pandemic-induced shift to digital shopping has resulted in huge changes to the retail landscape with 42% of UK consumers saying they won’t return to physical stores once regulations are lifted.
Amy and India picked upon this trend, unpacking the journey of offline and online shopping – highlighting the rise of social shopping, the appetite for ecommerce and how the lifeline of offline retail will be to incorporate digital strategy as part of offline evolution.
Over the course of 2020 we saw a behavioural shift towards purpose-driven purchasing. Consumers are using their spending power to show support and solidarity for businesses they care about – taking a stance against inequality and advocating for social justice. Lockdown has also led to a revival of community values in the face of adversity, which means Britons are also actively seeking out small businesses to support.
India discusses how brands can use marketing to create new forms of dialogue and accountability with their audience, and highlights the ways in which brands are working to make a tangible impact on the causes they care about.
Despite their good intentions, consumers are struggling or failing to shop ethically, with intention and desire being outrun by convenience and capability to deliver. On a cultural level, sustainable consumption took a back seat in 2020, but personal views to climate change remained consistent – with the pandemic casting a spotlight on individual responsibility.
Amy and India discussed how price and convenience can often trump the eco-credentials of products and businesses yet consumers are still wary of corporate greenwashing – scrutinizing brands on their environmental agenda.