Walmart Media Group VP Lex Josephs discusses how to deliver for the New Year’s customer by taking an in-depth look at behavioral trends.
Health and wellness combined with financial stability will be on the minds of customers after the holiday season. Brands in the market with relevant content in the right place at the right time will be able to reap the benefits.
The ongoing pandemic has compelled customers and brands to dramatically alter how they transact and interact: Not surprisingly, nearly half of the respondents to Walmart’s latest customer survey plan to spend this New Year’s at home with their friends and family. But the sentiment to hit the reset button both personally and professionally remains the same. These New Year’s resolutions have a direct impact on shopping habits.
For Walmart customers, the desire to stay fit and healthy tops the resolution list. In our survey, 43% of respondents said they are focusing more on health and wellness this year than last. The intention to spend less and save more also ranks highly, with 60% of respondents stating they will look for "inexpensive" products in the New Year.
Convenience also matters – now more than ever – with more than half of respondents saying they will look for products that enhance convenience in people’s lives. The rise of eCommerce will also continue to impact how customers purchase New Year’s products. Nearly 1 in 3 are likely to seek ideas and inspiration at Walmart.com and on the Walmart app.
To help brands make the most of this New Year’s season, we've taken an in-depth look at key customer trends. This means brands can meet and exceed customer expectations and give them plenty of reasons to celebrate.
Source: Walmart Spark Panel, August 2020. [Data was collected through an online survey distributed to Walmart Customer Spark panel members (N = 573) managed by Customer Spark and Research Platform team (Global Data)]