A “new consumer” is emerging in e-commerce, valuing savings over brand loyalty

The rise of the new consumer

What started as a response to economic hardship has now become a permanent shift in consumer habits, according to a recent study by The Conversation. The retail segment refers to the rise of the “new consumer”—a demographic that is value-conscious, digitally savvy, and favors experiences over material goods.

A study conducted by Promocodius – a website with current promotional codes – shows that American consumers are increasingly focusing on savings. Nearly half of survey participants are willing to download brand apps to take advantage of loyalty promotions, and 70% join loyalty programs to take advantage of free shipping.

In pursuit of more profitable alternatives

The trend is clear: consumers are looking for more cost-effective alternatives and are less likely to remain loyal to specific brands. The use of coupons, such as the free Flixbus coupon code, has increased – 45% of respondents to the Promocodius survey have used them in the last six months. This indicates a growing preference for sites offering up-to-date promotional codes and discounts, which is becoming essential for savvy shoppers looking to maximise their savings.

Online platforms for comparing prices and discounts are more popular than ever

Digital tools play a key role in these new consumer behaviors. Online platforms that allow you to compare prices and read reviews are becoming increasingly popular, enabling consumers to make informed purchasing decisions. This digital fluidity allows them to navigate the market efficiently, ensuring the best value for money. Despite the reliance on online shopping, there is still significant value in the physical store experience. Many consumers prefer to see, touch and try products before purchasing – 59% visit stores for this purpose, and 57% to avoid shipping hassles.

Moreover, human interaction remains important in the post-purchase journey. Consumers value personal assistance with returns, refunds and product issue resolution, underscoring the continued importance of brick-and-mortar stores. However, brick-and-mortar stores are transforming from mere transaction points into vibrant brand experience centers. For example, a Nike store in Manhattan features a half-court basketball court, a soccer practice area and a personalized shoe bar, providing an immersive and interactive shopping experience.

Moving Towards Experience-Based Spending

Another hallmark of the new consumer is the shift toward experiential spending. There is an increasing tendency to invest in travel, food and unique activities rather than accumulating material possessions.

Consumers are looking for meaningful and memorable experiences that are more satisfying than physical goods. This trend is evident in the increased demand for travel vouchers, deals and greater opportunities to save on travel, including cheaper options for eating out and discounts on tours.

Retailers must quickly adapt to the needs of the new consumer

Retailers must adapt to these changing consumer preferences by leveraging loyalty programs that offer personalized rewards and exclusive offers. Integrating mobile apps that provide real-time notifications of offers and events, offering exclusive in-store experiences for members, and using data analytics to tailor rewards to individual preferences can significantly increase consumer engagement and retention.

The rise of the “new consumer” presents both challenges and opportunities for retailers. By focusing on value, leveraging digital tools and enhancing experiential offerings, companies can thrive in this new retail landscape. The future of retail lies in creating dynamic, personalized and interactive shopping experiences that go beyond mere transactions, meeting the needs of customers who value savings and meaningful engagement over brand loyalty.