A very interesting and, I think, an important new survey, has been released by digital signage company, Radiant, It is called "The State of Consumer Behavior," and it focuses on what consumers want in a retail experience. According to Radiant, the Company "…conducted a survey of 1,000 American consumers in January 2020 to ask them about their habits, preferences, and expectations regarding in-store and online retail experiences."
There are several interesting findings, but I was particularly intrigued by how consumers see shopping based on how old they are. For example, the survey found that "of respondents aged 18 to 34, 55% prefer to shop online, while 57.5% of those over 35% prefer to shop at physical locations". In other words, only 45% of the younger group liked shopping in physical stores while almost 57.5% of the older cohort felt the same. That makes for a 12.5% gap that should be of concern to bricks and mortar retailers because the younger group is the future of retailing.
Another interesting finding was that "While 56.6% of respondents said they would shop more at physical locations for exclusive discounts not available online, 22.8% said they would shop more if store owners provided unique experiences". Figuring what a unique experience is and then how to deliver it seems like a lot of work to attract 22.8% of the shoppers. Providing an exclusive discount, however, is something that a bricks and mortar retailer can far more easily provide.
There was also an intriguing finding when it comes to gender and shopping. Only 23.4% of men wanted to be able to touch the product. Women, on the other hand, felt differently, with 45.7% prioritizing the physical presence of products." Perhaps bricks and mortar retailers, particularly when it comes to female shoppers, may want to more conspicuously and heavily promote the opportunity to handle products and, in the case of toys, play with them.
If you want to see all the findings, click here.
