Online shopping is on the rise.
Shoppers globally are growing increasingly fond of online shopping. Not surprisingly, many retailers have stepped up their digital offerings during the pandemic. Younger generations prefer the online shopping experience while their older peers are trending in the same direction as they grow increasingly tech-savvy.
expect retailers to invest in technology that gives them frictionless payments online, and 49% say the same about physical stores.
of shoppers are more positive towards buying from an online store that would enable them to pay after delivery.
find it useful to split the payments for a high-ticket item into equal parts, without any additional cost or interest.
Sustainability minded shoppers actively seek out brands and retailers that share their values.
The importance for brands and retailers to act in an environmentally sustainable way is deemed as important across generations. Younger generations more often take the environmental impact of delivery options into consideration when shopping online, and seek out brands that are ethical and sustainable to a higher extent.
1 in 3
consider it important that brands act in an environmentally sustainable way.
1 in 4
actively seek out brands that are ethical and sustainable.
The majority of shoppers that take environmental impact into consideration are looking for information that help guide their purchase decision, including both environmental and social impact of the business.
want retailers to promote fair labor conditions, use recycled or sustainable material in production and actively combat climate change by reducing carbon emissions.
Followers become buyers.
On average, 33% of shoppers have purchased a product after seeing it on social media. And about half of them did it directly from the platform.
Social media climbers.
Social media has made it easier than ever to discover new trends and items. Shoppers find both inspiration—and shopping opportunities.
is more popular than Facebook for Gen Z in every country.
is together with Facebook the most popular platform for Millennials in every country, except for Finland, where Youtube has the most impact.
is the overall most popular platform for Gen X’ers and Baby Boomers.
Predictions for the future.
There’s still a general belief that the majority of shopping will be done in physical stores in a year’s time—but preferences are quickly shifting.
This chart illustrates the share of shoppers believing they will make the majority of their shopping online or in physical stores respectively.
Contrasting payment preferences across countries.
The difference in payment preferences gets even clearer when the countries are placed next to each other in the index.
Cash remains royal in DACH
Germany and Austria stand out with a high preference for cash compared to the other countries. On the other side of the coin, consumers in Nordic countries seldom use cash and prefer physical payment cards to a much higher extent.
8 out of 10 save money.
Across all countries and generations, consumers consistently are saving money.
saves money from their income in the wider global population. Gen Z’ers (90%) are the most frugal generation.
is the average share of income saved. Gen Z’ers (17%) allocate money for savings to the highest extent.
Save in a bank account. Or invest.
The attitude towards utilizing various investments to grow savings or keep money in a bank account is shared across generations. But not across countries.
has a bigger impact than age, and men invest at a higher rate than women in all countries.
Country of residence
has an even bigger impact. The difference between the share of the population saving money in bank accounts and those investing is highest in the UK, Australia, the Netherlands, and France. (It’s lowest in Sweden and Finland.)
Stocks, bonds—or cryptocurrency.
There are numerous ways to invest for those willing to do so, each with its potential upsides and risks.
are the most popular form of investment in every country except Germany, Austria, and Sweden, who instead prefer mutual funds and ETF’s.
men are twice as likely to invest in cryptocurrencies than women.
Environmentally sustainable investments are in-demand.
Growing money—while promoting planet health. The majority has considered investing in companies with an environmentally sustainable profile.
1 in 3
consumers have actively chosen to invest in environmentally sustainable companies, and as many have considered it but not yet done so. Only 27% say that they choose the investment product that will yield the highest returns regardless if they are sustainable or not.
Online shoppers are more meticulous.
Shopping online and in the physical world are done differently. Meticulous planning, budgeting, price awareness, and online shopping are strongly correlated. Those who intend to go to physical stores go about their shopping more spontaneously.
Gen Z & Millennials are on it, too.
November sales are more embraced by the younger generations. Gen Z & Millennials budget to a further extent than their older peers and have a more clear idea on what they are going to buy before the sales get started.
Holiday shopping on a budget.
A lot of shoppers are taking the opportunity to get more value for their money by shopping during the November sales. And many are looking to cross off a large chunk of items from their holiday shopping list in one swoop.
Black Friday shopping no longer requires protective gear.
Shoppers want to avoid crowds and do their bargain hunting from the comfort of their living room. While Black Friday is still physical stores first, many shoppers are looking to make a large share of their purchases online this year—and retailers are quick to adapt to evolving consumer needs and preferences.
The chart below illustrates the extent to which shoppers are planning to shop online and in physical stores on Black Friday.
One legend puts Santa’s workshop in Lapland, Finland. We can neither confirm or deny whether his helpers participated in this survey, but creativity clearly flows in the surrounding areas as 40% of Finns will be making their own Christmas gift this year.
Germany & Austria
the craftiest folks on the European continent come from Austria (47%) and Germany (40%), whose citizenry are likeliest to be making a gift for someone this year. Both nations’ populations are more than twice as likely to be preparing custom gifts than their neighbors in Belgium, France, and the Netherlands.