Online spending has plateaued, further reinforcing the importance of omnichannel customer engagement with brands, according to a new shopper report from WPP agency VML.  

And consumers expect to spend less online in the future than previously predicted. Fifty-three percent of spend is currently online – the same percentage as last year, per the report.  

Sixty-two percent of global shoppers prefer to shop with a brand or retailer that has both physical and online stores and 57% of spending is expected to be online in five years’ time – dropping 3% from last year’s prediction of 60%. 

Another headline from the report is political instability impacts the way many consumers purchase. Sixty-six percent of consumers globally say that political events affecting their country are making them feel more anxious about their financial future; 60% are nervous about making major purchase decisions because of political uncertainty.

For 32% of respondents, the biggest financial concern is the increase in the cost of living. 

Nearly 70% of consumers have used artificial intelligence tools like ChatGPT to shop and 52% say they are excited by the prospect of having their own AI agent to shop on their behalf. 

The survey found that significant bumps remain in the shopper experience – 45% say they often abandon their online shopping cart because the experience is too frustrating. 

Brands must address those frustrations or risk stunted growth in an AI-first world, per the report. 

While 63% say personalized recommendations help them discover new products, 45% believe most brands fall short when it comes to providing them.  

VML’s new Future Shopper report, now in its ninth year, can be downloaded here.