Shopper Experience
29 June 2022
Survey: Half of shoppers plan to buy more online with markdowns
Pitney Bowes' BOXpoll looks at how consumer habits are shifting heading into a summer of sales.

(Illustration by The Current)
Pitney Bowes' BOXpoll looks at how consumer habits are shifting heading into a summer of sales.
Welcome to Data File. In this weekly feature, The Current shares key findings shaping the ecommerce landscape. At The Current, we comb industry, analyst and economic sources for the data that matters to ecommerce professionals, and include it throughout our work. This feature is one of the ways we’re sharing what we find.
For consumers, it’s a summer of swings.
Forty-year-high inflation is pushing prices higher. The Fed moved to raise interest rates, making borrowing money harder across the economy. At the same time, retailers are set for big markdowns amid an influx of inventory.
With COVID-19 restrictions loosening, the retailers say the discounts come as a result of inventory ordered months ago in a supply chain crisis that doesn’t match with current demand for products that align with going out, rather than staying home. Most of the markdowns are coming in areas that were flying high in the pandemic. But when price pressure abounds, a sale is a sale. Track what’s being offered closely and there could be deals to be had.
“This summer will present both new challenges and new opportunities for brands,” said Vijay Ramachandran, VP of market strategy for global ecommerce at Pitney Bowes, in a statement. “Overstocks and markdowns will impact profitability, but also create new openings to sell as a large portion of consumers seek out deals—further aided by the return of Prime Day and other mid-year promotions. At the same time, our survey found a growing number of consumers cutting back on retail spending altogether as they react to record inflation and gas prices, and rising interest rates.”
A new survey from shipping company PitneyBowes looks at how consumers are planning spending as more markdowns on casual apparel, home appliances and furniture are heading their way. The results of the latest BOXpoll show that it’s set to bring a shift toward ecommerce.
Here are a few of the key data points:
It’s a time of massive swings. As Ramachandran put it: “2020 saw unprecedented capacity constraints among ecommerce logistics networks. 2021 witnessed historic disruptions in the manufacturing supply chain. 2022 is shaping up to be the year of oversupply and price volatility.”
Consumers are changing habits along with it. According to the poll, 56% of respondents said their motivations for buying online have changed since the peak pandemic lockdown phase. The number one reason for shopping online was saving a trip to the store. That was a top choice of 43% of respondents. Meanwhile, COVID concerns are top-of-mind for 15% of consumers.
This makes delivery a key component of ecommerce, and speed is key. The survey showed the following:
It gets at another side of the ecommerce equation. As online shopping becomes more habitual, there’s one emerging dynamic that is tougher to quantify, but no less impactful: Ramachandran said many consumers are attracted by the “joy” of online shopping, and that will only continue to grow. It could even overtake convenience as a prime motivator.
It’s a note worth taking when designing ecommerce experiences. Remember how factors like a standout social presence and unboxing helped DTC rise. Going fast for consumers is important, but it’s important to remember that they also want to be delighted along the way.
From Pitney Bowes:
The BOXpoll consumer survey by Pitney Bowes is a weekly consumer survey on current events, culture and ecommerce logistics. Morning Consult conducts weekly polls on behalf of Pitney Bowes among a national sample of more than 2,000 online shoppers. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, educational attainment, gender, race, and region. Results from the full survey have a margin of error of +/- 2 percentage points.
Consumer sentiment fell in May, indicating growing anxiety about a downturn.
Summer is here, but with it comes a reminder that the economic picture isn’t changing for the consumer.
On Friday, new data from the Personal Consumption Expenditures Index showed that core inflation ticked up to 4.7% year-over-year in April, up slightly from 4.6% in March. On a monthly basis, core inflation rose 0.4%, compared with 0.3% in March.
The increase means inflation showed signs of growing in April, even as the narrative presented in recent months has been one of slowing price increases.
Meanwhile, consumer spending jumped 0.8% on a monthly basis. It’s a sign that people are continuing to shop, even as inflation hangs around like the humidity in August.
What it means for the Fed: The inflation uptick gives the Federal Reserve new challenges as it weighs whether to pause a monthslong campaign of interest rate hikes that are designed to bring down inflation. Inflation had been cooling as the Fed lowered the size of the hikes in recent months. Now, it is considering whether to stop the hikes, but is confronted with fresh evidence that inflation moved back up. Should it do more to cool inflation? It's a tricky question, especially given the fact that interest rate hikes take months to work their way through the economy. While PCE is the preferred measure of inflation by the Fed’s key committee, members will have fresh data on inflation and consumer spending from other indices, such as the Consumer Price Index, that are set to be released in the next two weeks when they meet on June 13.
Elsewhere, there are signs that the consumer mood is starting to dampen. Consumer sentiment fell 7% in May, as the debt ceiling crisis dragged down spirits. The University of Michigan’s index had been rising for months after hitting all-time lows in June 2022. But May’s decline erased half of the gains made in that time.
In particular, consumers appear to be fearing a rough road ahead. Consumers’ outlook for the year ahead fell 17%, while long-run expectations plunged 13%.
“Consumers are concerned that any recession to come may cause lasting pain,” wrote University of Michigan Survey of Consumers Joanne Hsu.
Notably, however, there were more stable views on inflation. Expectations for the year ahead fell to 4.2%, as compared with 4.6% last month. Uncertainty about inflatin also fell significantly to its lowest level in nearly two years.
“This suggests that consumer views over short-run inflation may be stabilizing following four months of vacillation,” Hsu wrote.
Long-run inflation expectations remained within the range of 2.9%-3.1%, as they have been for months.