Rapid e-commerce growth rates are stabilizing in many markets, signaling the importance of balancing online and in-store sales strategies. Nielsen noted in its NIQ’s 2023 Consumer Outlook that in 2023, the digital and physical worlds of retail will merge in ways never seen before. Drilling down to the category-level sales performance indicates many categories have unique strengths in one channel or another. While 70% of consumers spend the most offline in physical stores, shopping habits, and spending budgets are still shaped by omnichannel. As a result, brands and retailers must understand the channel strengths and incrementality of the product or category.
The Omni Future of Retail: 2023 Outlook on e-commerce and in-store shopping