Time is money, and consumers are constantly seeking ways to make their lives more efficient. One area where this is particularly evident is in the way people shop for personal and household supplies.
In “The Replenish Economy: A Household Supply Deep Dive,” PYMNTS Intelligence draws on insights from a survey of over 2,000 consumers to examine the impacts retail subscriptions have on consumer shopping habits and preferences.
Per the research findings, consumers are increasingly turning to online platforms to purchase their everyday essentials, leading to a reduction in in-store shopping. In fact, approximately 42% of retail subscribers visit physical stores less frequently due to their current online subscriptions.
Millennials are leading this trend, with 40% of them depending on retail subscriptions for the majority or entirety of their shopping needs. Within this demographic, 39% of millennial subscribers primarily use scheduled subscriptions for their purchases, the study also found.
One of the primary reasons consumers opt to buy supplies online is the ability to have more control over their shopping time. Instead of spending time driving or commuting to stores, consumers can simply browse and purchase the supplies they need from the comfort of their own homes or offices, saving them considerable time.
As highlighted in the report, 15% of at-will shoppers cite control over timing as their primary motivation, much higher than the 5% of in-store shoppers who say the same.
In addition to having more control over their shopping time, nearly 12% of consumers also value the faster shopping experience that online platforms provide. Traditional in-store shopping often involves navigating crowded aisles, waiting in long checkout lines, and searching for specific products. Online shopping eliminates these time-consuming aspects by offering intuitive search functions, personalized recommendations, and easy-to-use interfaces.
Additionally, many online platforms offer features like saved shopping lists, automatic reordering and subscription services, further enhancing the speed and convenience of the shopping experience.
Further data analysis shows that among at-will shoppers, 10% highlight the importance of managing costs as their rationale for opting for online shopping, while approximately 8% attribute their choice to a more pleasant experience when shopping online.
Essentially, consumers are embracing the convenience and efficiency of online shopping for personal and household supplies, particularly when products need replenishing. In this context, the capacity to exert greater control over shopping timing and expenses, alongside the prospect of a faster shopping experience, emerges as key factors likely to sustain this shift in consumer behavior.
Merchants who tailor their offerings and services to prioritize flexibility, affordability and engaging online subscription experiences are poised to thrive in this evolving retail landscape.