Top Consumer Behaviour Trends for Retail to Follow in 2024

 If you are running retail, you must follow consumer behaviour trends to improve your retail operation. However, it gets a bit tricky when it comes to human behaviour and retail. But don’t worry; in today’s blog, we are going to discuss the consumer behaviour trends for retail to follow in 2024.

There is no doubt that the world is rapidly changing — changes in technology, human desire, how businesses are conducted, etc. and in this rapidly changing landscape — for retail — understanding and adapting to consumer behaviour trends is crucial for staying ahead of the curve.

As we move further into 2024, the retail industry finds new challenges despite the growth. The changes are mostly driven by technological advancements, shifting societal norms, and global events. But it is not that every business is growing in the same manner. Some are growing fast; some are not. It depends on which retailers are following the pulse of the consumers and who are avoiding it.

So, if you are one of those confused or trying to understand the whole thing yet beating around the bush, we have compiled some of the most important consumer behavior trends for you to follow.

Let’s dive into the top consumer behaviour trends that retailers need to follow in 2024.

1. Adapt Omnichannel Shopping Experiences

What is the first and foremost requirement of the consumers? It’s easy. Every consumer prefers a seamless shopping experience across different channels.

Exactly, this is where consumer behaviour trends come in. They indicate the ins and outs of a set of growing preferences among shoppers through different channels. But what are those trends?

As per our research, in 2024, retailers need to focus on merging online and offline interactions seamlessly.

To put it simply, you need to prioritize omnichannel strategies such as buy online, pick up in-store (BOPIS), curbside pickup, and same-day delivery.

So, you have multiple options for your consumers, catering to their need for flexibility and convenience in their shopping journeys.

Let’s take an example: suppose a customer browses your products online, selects the desired items, and chooses to pick them up at a nearby store at their convenience. This happens because not all customers are the same. Some are not comfortable getting their products delivered before they are satisfied. We guess you can relate to this.

If you can offer such omnichannel options, you, as a retailer, can meet the evolving needs of modern shoppers and stay competitive in the market. This integration of digital and physical retail experiences ensures that customers can shop whenever and however, they prefer. It simply drives satisfaction and loyalty.

2. Provide Personalized Customer Experience  

You might have already heard about this — personalized customer experience — but you might be unaware of what it is. Well, let us discuss this significantly important aspect of one of the most important consumer behaviour trends for retail that you need to follow this year.

Personalized customer experience or personalized shopping experiences offer shoppers with very unique and customized experiences according to their preferences. And most of the top retailers have been leveraging this for their retail. 

Let us make the personalized experience clearer with real examples.

Let’s take Netflix. If you have been on Netflix, you must have seen that you only see what you like. You only see the films and TV shows you prefer. This is called personalized customer experience. If you look closely into other successful e-commerce websites like Amazon, you will also see that you only see what you like mostly.  

This is not only happening in e-commerce; it is also the case in retail shops. You will see that their product showcasing has something that caters to all types of customers. However, technology makes this customer behaviour trend more common in e-commerce.

So, how do they do it?

Well, they use artificial intelligence to deliver tailored recommendations and messages to customers. They also analyze vast amounts of data to understand individual preferences better by leveraging technologies.

So, if you want to remain competitive in the market, you need to adapt to these customer behaviour trends to meet consumers’ expectations.

3. Integrate Virtual Try-On and Augmented Reality to Your Retail

The world has come a long way, and modern technology is way more advanced than we can think. Along with technology, there has been a rise in the modern user base. As a result, consumer behaviour has changed significantly, and Virtual try-ons and augmented reality are the latest customer behaviour trends you need to follow in 2024 and beyond.

But how does it help retailers? Retailers can utilize these technologies to improve the online shopping experience.

Virtual try-ons and AR allow customers to visualize products like clothing, cosmetics, and home decor in real-world settings before buying. This bridges the gap between online and offline shopping, enhancing the overall experience.

For example, a customer can use AR to see how a piece of furniture would look in their living room before purchasing it online. By offering these immersive experiences, retailers can increase conversion rates and reduce returns, leading to higher customer satisfaction.

So, we suggest that if you have a business or e-commerce site that offers such products, you must follow this customer behaviour trend.

4. Facilitate Contactless Payments and Digital Wallets

In the retail business, payment management has become an important aspect that every customer and retailer is highly concerned about.

Instead of carrying cash, people carry cards and digital apps for transactions. According to our research, contactless payment and digital wallets are an important consumer behaviour trend for retailers to follow in 2024.

The old days are gone, and retailers need to adapt to this important transition by offering customers diverse payment options, such as digital wallets, mobile payments, and even cryptocurrency.

Why?

Implementing a contactless payment system will help you with a smoother checkout experience while addressing customer preferences for safety and efficiency.

For instance, now cards are NFC-based, which allows your customers to pay without handing over their card— just touch the POS machine, and your payment is done. Moreover, with digital payment options, customers can simply tap their smartphones or use their wallets to complete transactions swiftly and securely.

So, if retailers want to remain competitive and meet consumer expectations, they must offer diversified payment options, most importantly contactless payment solutions.

5. Emphasis on Health and Wellness

Consumer behaviour trends also show a strong focus on health and wellness. Are you wondering what health and wellness have to do with customer trends?

Well, we are talking about the products that promote health and wellness. People around the world are becoming health conscious, and as a result, retailers are making health and wellness products more visible to customers.

Retailers can take advantage of this trend by offering products such as organic foods, fitness equipment, wellness supplements, etc.

Moreover, retailers can strengthen brand loyalty by promoting healthy living through educational content and community engagement.

For example, a grocery store might organise cooking classes or share nutritional tips online to support customers’ well-being.

If you look around and scroll down to your social media platforms, you will see many brands creating content related to consumers, eventually driving customers to their brands. This trend can also be integrated into your retail strategy to attract more customers.  

To conclude, the retail industry is rapidly changing, and if you want to navigate your retail to success, you must follow customer behaviour trends. In 2024, you should follow some particular trends, such as omnichannel strategies, personalisation of customer experience, sustainability, immersive technologies, contactless payments, and health and wellness promotion. These are the key imperatives for retailers seeking to thrive in a competitive landscape. Hope this blog helps you in the long run. If you have any questions, you can reach out to us.