Deloitte's Kasey Lobaugh discusses surprising shifts in consumer behavior beyond just economic factors. He shares insights from Deloitte's research on how marketplace dynamics are influencing purchasing decisions and how digital continues to impact physical retail. This episode provides crucial context for retailers looking to understand and adapt to the evolving customer landscape.
Key takeaways
Consumer behavior is evolving beyond simple economic responses; retailers must analyze broader marketplace dynamics to understand purchasing shifts.
Digital influence on in-store purchases continues to be significant; optimizing the online-to-offline customer journey is critical.
Retailers need to move beyond traditional market segmentation and delve into behavioral economics to truly understand and cater to consumers' evolving decision-making processes.
The 'Great Retail Bifurcation' concept, where retail polarizes into value and premium experiences, remains relevant and is further shaped by current consumer changes.
Proactive adaptation to consumer shifts, rather than reactive measures, is essential for retailers to navigate disruption and maintain relevance.
EP180 - Deloitte's Kasey Lobaugh, Surprising Consumer Changes Kasey Lobaugh is a Principal and Chief Retail Innovation Officer at Deloitte Consulting LLP, he first appeared on episode 68. You can follow him on twitter at @klobaugh. Kasey and his team publish some of the most useful research in the industry including The New Digital Divide which helps quantify the effect of digital on in-store purchases, and the Deloitte Retail Volatility Index which measures disruption in the retail industry. Kasey was last on the show for Episode 114, where he introduced "The Great Retail Bifrication." This time, Kasey is back with a new report, "The consumer is changing, but perhaps not how you think. A swirl of economic and marketplace dynamics is influencing consumer behavior." Don't forget to like our <a href= "https://www.facebook.com/jasonandscot/" target="_blank" rel= "noopener nore
What does this episode say about retail & omnichannel?
Consumer behavior is evolving beyond simple economic responses; retailers must analyze broader marketplace dynamics to understand purchasing shifts.
What does this episode say about analytics & attribution?
Digital influence on in-store purchases continues to be significant; optimizing the online-to-offline customer journey is critical.
What does this episode say about brand & content?
Retailers need to move beyond traditional market segmentation and delve into behavioral economics to truly understand and cater to consumers' evolving decision-making processes.
What does this episode say about retail & omnichannel?
The 'Great Retail Bifurcation' concept, where retail polarizes into value and premium experiences, remains relevant and is further shaped by current consumer changes.
What does this episode say about retail & omnichannel?
Proactive adaptation to consumer shifts, rather than reactive measures, is essential for retailers to navigate disruption and maintain relevance.
