Four Retail Trends Identified by Walmart and Morning Consult
Walmart, a multi-channel discount retailer based in Arkansas, and Morning Consult, an American business intelligence company, have identified four significant trends applicable to shoppers in their first annual report. The trends identified are convenience, reflection, equity, and ease of purchase. Consumers have demonstrated that they crave hyper-specific personalization and recommendations from retailers—more than a third of survey responses indicated that consumers would even prefer to have a virtual personal shopper.
The trend reflection refers to the fact that consumers want online and in-store shopping to mirror one another, with the benefits from both shopping experiences existing in each. The absence of lines in online shopping and the immediate reception of an item with in-person shopping are things shoppers crave in both experiences. Equity refers to the concept of fairness of quality, price, and personal data, while ease of purchase refers to frictionless shopping experiences, as most consumers multitask while shopping.
“Retailers must predict shoppers’ needs, reduce decision-making, and enable highly personal experiences,” said Suresh Kumar, Walmart’s Global Chief Technology Officer and Chief Development Officer. “Future retail success depends on how well we anticipate and meet these evolving expectations.”
Access more reports from Morning Consult here.
Addressing the Recent Uproar—Chipotle’s Promise of Generous Portions
Chipotle, a Mexican-style fast food chain based in Newport Beach, California, recently achieved internet infamy involving controversial proportion sizes, battling frequent claims of “shrinkflation.” A number of TikTok users went viral after employing a tactic where customers videotape Chipote frontline workers who assemble their food to combat “shrinking” portion sizes. While Chipotle CEO Brian Niccol has frequently denied the accusations of smaller portions, he notes that the company plans to address the allegations.
“There was never a directive to provide less to our customers. Generous portions [are] a core brand equity of Chipotle. [They] always [have] been, and always will be,” he said. “With that said, getting the feedback caused us to relook at our execution across the entire system with the intention to always serve our guests…custom burritos and bowls with generous portions.”
To enable consistency across restaurants, Chipotle has reemphasized the importance of generous portion sizes and increased training, specifically targeting the “outlier” 10% of the company’s 3,500 restaurants, which customer surveys indicated are performing at a lower level.
Learn more about Chipotle’s values here.
Hyatt Engages Loyalty Members with New Partnership
Hyatt, a Chicago-based hospitality brand, announced its partnership with Under Canvas, a leader in upscale outdoor hospitality that offers 13 luxury outdoor resorts across the United States. This partnership will enable Hyatt loyalty program members access to Under Canvas’ resorts, all of which are located in breathtaking destinations, including national parks. This partnership aims to cater to travelers’ increased interest in outdoor stays, along with a growing desire for distinctive experiences.
“Travelers are looking for new and unique experiences to reconnect with nature in off-the-beaten-path locations. By adding these luxury outdoor camps to the World of Hyatt, we are bringing more memorable travel experiences for our guests and members,” said Hyatt Chief Commercial Officer Mark Vondrasek.
Learn more about Hyatt’s partnership with Under Canvas here.
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Original Article Links:
Walmart and Morning Consult’s adaptive retail report highlights need for personalization
Chipotle responds to social media outcry by promising more consistent, ‘generous’ proportions
Hyatt partners with Under Canvas in luxury outdoor loyalty play