All in: Inclusion & Diversity drive shopper habits
March 13, 2019
Research Report
In brief
In brief
- To develop more meaningful relationships with shoppers, retailers must orient themselves around a strong, authentic purpose linked to I&D values.
- Championing Inclusion & Diversity is an opportunity to cultivate a culture that matches customer values.
- By offering products that address shoppers’ diverse needs, retailers are becoming more inclusive and attracting new customers at the same time.
It is no secret that today’s shoppers do not always feel valued for who they are. The good news is that the retail industry is making strides in Inclusion and Diversity (I&D) and customers are noticing–which in turn creates a tremendous opportunity for retailers. Our recent survey of shoppers reveals that not only do they expect retailers to engage in conversations around social issues, but that I&D influences their purchasing and switching behaviors. Retailers can expect better performance when they offer products, services and experiences that reflect what shoppers want and value.
People are already shopping their values
Retailers’ I&D practices are making an impact on shoppers’ behaviors right now. People are already shopping based on their values. Forty-one percent of shoppers tell us that in the last year, they have shifted at least 10 percent of their business away from a retailer that does not reflect how important I&D is to them. Diverse shoppers are even more likely to leave.
Shoppers are not just turning away from retailers that do not share their values, they are turning toward those that do. Twenty-nine percent of all shoppers, and still more diverse ones, are likely to switch to a retailer that reflects the importance they place on I&D.
42%
of ethnic minority shoppers would switch to a retailer committed to I&D
41%
of LGBT shoppers would switch to a retailer committed to I&D
There are things that retailers can do to provide a more inclusive shopping journey for all people. Some are already making inspiring progress across the business.
Products: What you sell
By offering products that address shoppers’ diverse needs, retailers are becoming more inclusive and attracting new customers at the same time.
Advertising: How you sell it
By developing ads that reflect the everyday experiences of people from all walks of life, retailers are establishing an authentic connection with shoppers.
Touchpoints: Where you sell it
By creating shopping environments that accommodate and celebrate different shopping experiences, retailers are creating safe spaces for shoppers.
Workforce: Who sells it
By embracing inclusive hiring practices, retailers are naturally becoming more diverse and benefiting from workers’ insights and experiences.
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Lead with purpose
There is no quick fix to becoming a retail leader in I&D. The approach must be holistic, not half-hearted. It must be sustained, not short-lived. To move the needle, lead with inclusion first—inclusive behaviors seed a more diverse culture. Because the reality is that hiring for diversity alone does not drive meaningful change if all employees do not exhibit inclusive behavior.
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