“Virtually all members of Generation Z would rather shop in bricks-and-mortar stores” – IBM & National Retail Federation
Online sales continue steadily to grow in importance, as shown by our compilation of ecommerce growth trends. But also for many businesses, the times of double-digit, year-on-year growth in online sales are over. We have been now in the era of ecommerce optimization where, to keep growth, companies are needing to innovate their growth strategy, to make their online experiences engaging and persuasive.
As the planet of digital continues to transform, with different generational segments of the populace adapting to technology at their very own distinct pace, marketers keep a detailed eye on retail ecommerce trends and developments. With artificial intelligence being hot topic for future years of marketing, trends like conversational commerce, using chatbots and voice search have already been closely associated to widely-adopted online shopping habits amongst millennials along with other population segments. A lot more stores are moving online and constantly taking measures to boost their online shopping experience and multichannel approach.
Much just like the world of digital, consumer shopping behaviour continues to evolve , as consumers discover new opportunities, both online and offline. Actually, a recently available retail trends survey, commissioned by way of a leading London-based international brand experience consultancy, has revealed that almost three-quarters of millennials still prefer stores to online shopping. Who have thought? Nowadays of digital, millennials, often thought to be an immensely digital-savvy generation, still prefers to look in a physical store. The survey was conducted among 2000 18 to 35 year-olds surviving in several UK cities.
The 2018 Retail Sector report, titled “The Convergence Continuum”, talks about the way the future of shopping has converged right into a ‘continuum’ of formats, and how consumers, brands and technology are adapting to these changes. Listed below are the main element findings of these research:
- 74% still prefer physical stores in comparison to just 26% preferring online shopping, with 36% preferring stores.
- 80% of individuals went shopping as each day trip within the last month, with 50% of these going in the final week.
- 51% would like to navigate, get information and pay utilizing their phone in-store, that is a good example of omnichannel retail, read more here.
- 46% think staff hinder the shopping experience, but 48% still value help.
- 70% prefer staff but maybe just at the pay point, while 28% would happily shop without staff.
- 71% want store staff to become more knowledgeable.
- 45% would revisit stores that offered workshops and tutorials, while 23% would like to shop.
- 77% of individuals are available to the thought of handing over data in trade for discounts.
- 56% want their click and collect indicate offer them an area to use on clothes and facilitate their returns and refunds.
- 73% of individuals prefer home delivery over click and collect.
- 49% say probably the most loved component of the in-store experience is touching and trying things out.
- 69% of store card holders believe they’re valuable and cause them to become shop at exactly the same store.
Commenting on the report, I-AM Group Partner, Pete Champion, said: “Both online and offline, people prefer multi-brand stores over mono-brand ones. Retail has undergone a seismic change within the last decade. Though it has been largely driven by technology, our consumer attitudes from what shopping is and does has sifted dramatically and our needs, platforms and spaces have converged. We no more shop in specific bursts, rather shopping hums along at our pace of life.
“Retail has turned into a continuous chain-reaction of movements, events, experiences and motives. Shopping is becoming relative – in accordance with context, person and place and contains moulded into four dimensions of space and time. Shopping is not any longer concerning the what and where, but how so when.”
In today’s fast-paced, technology-oriented world, individuals are overwhelmed with content. Be it through ads, offers, emails, texts, social media and the rest, the industry has already reached a spot of “content shock where consumers cannot consume a lot more content than they already are”. Hence, just how brands devise their digital online marketing strategy, to fully capture their audience’s attention, must change. Brands have to concentrate on the micro-moments of these customers’ behaviours.
Think with Google outlines micro-moments marketing as, “What was previously our predictable, daily sessions online have already been replaced by many fragmented interactions that now occur instantaneously. You can find a huge selection of these moments everyday—checking enough time, texting a spouse, communicating with friends on social media. But there are another moments—the I want-to-know moments, I want-to-go moments, I want-to-do moments, and I want-to-buy moments—that basically matter. We call these micro-moments, and they are game changers for both consumers and brands.”