As a topic, consumerism gained momentous interest during the pandemic, revealing new patterns and insights into purchases and acquisitions. As social media suggests, humans are inherently impulsive shoppers, with the pandemic sparking an unmatched and frenzied level of ‘panic buying’.
Such unwarranted and relentless demand for products has provided many valuable lessons for retailers on how technology can cope with the growing influx of online and offline shoppers.
The advent of technology in retail has redefined how consumers shop, their preferences, and even their expectations. More consumers are better informed and, subsequently, ready to choose alternatives that offer competitive prices or better quality.
In addition, the ongoing sustainability movement has led to retailer transparency regarding various components of supply chains and to the awareness of what is deemed questionable.