5 ways shoppers change during a crisis

When crisis strikes, whether economic downturns, pandemics or geopolitical uncertainty, shopping habits can change. Retailers who adapt can stay relevant and resilient.

Let’s look at how shoppers may alter their approach when facing challenges.

Spending priorities change

In times of uncertainty, shoppers tend to reevaluate priorities and spending patterns, which can lead both to cutting down on nonessentials and bolstering appetites for small luxuries.

Our research found that when experiencing economic pressures, 50% of shoppers are likely to cut back spending on fashion and 38% on nonessential food items such as desserts, wine and speciality cheese¹. This distinction between needs and wants reflects a pragmatic approach to navigating financial uncertainty, prioritizing items essential for daily living over those that merely enhance it.

However, other areas may see increased spending, like luxury beauty, leisure and eating out. The winners and losers in times of strife depend on the crisis at play. For example, the surge in office, DIY and home gym equipment was specific to the pandemic.

Since Retail Week recently reported that only 8% of shoppers are planning to increase overall spending, any realignment means some retailers are bound to lose out. Both diversifying product lines as well as building in more sales events and rewards can help keep people spending when under pressure.

Focus can shift to price

Crisis can transform casual shoppers into budget-conscious buyers. Price sensitivity increases, with discount hunting becoming the norm. Brand loyalty can take a knock if consumers prioritize value over familiarity. Our research found that 54% of shoppers self-label as “bargain hunters” who go where the best deals can be found.

Retailers can have a dual prong approach to countering the challenges of variable, price-driven shopping. First, reassess pricing strategies to ensure you’re staying competitive, since the premium your brand once offered may no longer sway consumers. Second, double down on perks and rewards that can keep shoppers motivated to support your brand.

Digitally dexterous, deeper experience

The acceleration of digital during the pandemic may have been necessitated by safety, but shoppers have grown to love the convenience digital experiences offer. With 68% of shoppers citing convenience as their primary motivation for using digital wallets, and the same amount thinking omnichannel shopping will be important in the future, the physical and digital are blending for an elevated user experience in which every touchpoint counts.

Looking ahead, our Global Payments Report 2025 projects that digital payments (whether account to account, buy now pay later or digital wallets), will represent 79% of global e-commerce value by 2030.

The smartphone being the command center of commerce has led to digital connectivity that can deepen the relationship retailers have with customers, as well as increase their number of shopping touchpoints and ultimately sales. Whether it’s augmented reality, improved social shopping, faster online refunds, AI assistants or implementing fully cross-channel rewards, most retailers still have more to explore in the digital realm.

And there is always, what’s next? Retailers who invest in improving digital experiences now could position themselves for enhanced future success – or risk being left behind.

Driven by emotions

Stressful times can lead to charged shopping experiences. Some people turn to comfort buying, particularly in small indulgences. Others may turn to what’s familiar or to communities where they can be inspired or find likeminded people.

The merging of retailing with community has led to more experiential in-store initiatives like classes, coffee and or meet-ups, as well as more community-driven experiences online.

Retailers can reduce the time between a memorable moment and a purchase by providing excellent payment experiences. Ensuring every channel is maximized to take a payment – for example via social media or via an app – makes it more likely an engaged moment will result in a sale.

They seek transparency and reassurance

Values-driven shopping is gaining momentum, with 76% of shoppers expressing interest in buying preloved items and 73% saying they think environmental and sustainable issues will influence where they shop over the next three years.

By sorting, filtering and showcasing product lines that meet certain ethical standards – for example, those that are vegan, cruelty-free or have another values-driven aspect – merchants can lead customers to relevant brands, thereby driving sales. Curation and clear labeling both in store and online helps shoppers find the items or brands that align with their own attitudes or beliefs.

Shoppers are also becoming more aware of the environmental implications of both delivery and sourcing. Clear communication about manufacturing practices, environmental impact and potential disruptions to delivery helps maintain consumer trust. Transparency has become a shopper must-have.

Adapting can offer new ways forward

In times of crisis, shoppers may behave differently, but if merchants are plugged in to shoppers’ needs, they can still serve them well. Being adaptable to both customers’ immediate requirements as well as emerging trends can help retailers set themselves both apart and up for future success.

Approaches can take the form of diversifying product lines and pricing strategies, improving digital experiences, rewarding generously, meeting shoppers in their communities and being transparent and authentic – and, of course, ensuring your payments run perfectly, all the time.

Learn how Worldpay can support retailers in tailoring payment ecosystems to match evolving shopper expectations.

¹ Future Shoppers, additional Worldpay data collected by Savanta, 2024.