Retail Trends Factfile: Physical Retail

When asked how likely they were to buy in a store if helped by a knowledgeable associate, 90% of US consumers said they would be likely to buy. (TimeTrade, 2015)

When US consumers were asked why they prefer shopping in store, 85% said they like to touch and feel a product before deciding what to buy. 36% don’t like waiting for products to ship and 30% like to get advice on what product to buy. (TimeTrade, 2015)

More than half (65%) of US consumers said if an item they want is available online or in a nearby store, they prefer to shop in the store. (TimeTrade, 2015)

71% of US consumers said they would prefer to shop in a physical Amazon store rather than on (TimeTrade, 2015)

18% of UK retailers said that digital technology had not affected their store design and would not do so in future. (CBRE, 2015)

When entering new markets, UK retailers are using a range of strategies. While 40% would typically open a physical store and an online platform together, just under one third (30%) said that they would first test a market with an online platform before committing to a physical store. (CBRE, 2015)

2% of Brits feel the high street won’t exist in five years. (Tangent Snowball, 2015)

78% of consumers in the USA consider in-store pickup of online orders important, while nearly half consider it extremely important. (CFI Group, 2014) 

 47% of Americans say they may wait for the products to come back in stock depending on how long it will take the retailer to fulfil a request. Consumers indicated if they want a product badly enough they would not have a problem contacting the retailer’s customer service or contact centers to check on local in-store availability. Not only is in-store availability important to a consumer, but the demand of cross channel inventory weighs-in heavily as well. (CFI Group, 2014)

71% of American consumers have ended their relationship with a company due to poor customer service. (KISSMetrics)

The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5 – 20% (Marketing Metrics)

Millennials are more likely than Baby Boomers to look for advice on in-store purchases. 45% like the idea of a personal shopper who can pull items according to the customer’s style, fit or wardrobe, versus 28% of Baby Boomers. (Accenture, 2015)

Worldwide, order share is highest between 7pm and 9pm. (DemandWare, 2015)

There’s been an increase in store visits worldwide by 16% from 2014. (DemandWare, 2015)

64% of US Internet users cite ‘the overall experience I have when I’m in the store’ as the main reason they decided to purchase a product at a particular store. (Timetrade, 2015)

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Primary frustrations of US internet users with shopping at retail stores are long lines at checkouts (29%) and slow checkouts (21%). (Digimarc, 2015)

Primary frustrations of customer frustration with Click and Collect services in the UK are long waiting times due to lack of staff (32%) and store staff unable to locate items (30%). (YouGov, 2015)

1 in 4 US internet users listed “not finding what I need” as their primary frustration with shopping at retail stores. (Digimarc, 2015)

33% of UK consumers have used contactless technology in the past three months. (RetailWeek, 2015)

46% of UK, 50.2% Germany and 49.2% Netherlands shop mostly in store. (RetailWeek, 2015)

For people who used contactless payment in the last three months, 72.6% used a contactless card, 14% used mobile payments technology and 13.4% used both. (Osborne Clarke, 2015)

When it comes to which in-store technology customers find most valuable in the UK, 28.2% said tills that accept contactless payment, 28.1% said Scan and Shop, 20.5% said kiosks to access products not currently in stock, 12.5% said constantly updated virtual displays, 11.5% said in-store iPads and 7.7% said bluetooth beacons to send personalised offers to your phone. (RetailWeek, 2015)

Contactless has gone from zero to future hero – just under half of UK consumers surveyed see contactless as the main payment method in 2020.  (Tangent Snowball, 2015)

In 2014, 50% of UK mobile shoppers said they’d embrace in-store beacon technology (SmartFocus, 2014)

85% of UK shoppers have smartphones and 31% are conscious that their Bluetooth is turned on ( Smart Focus, 2014)

Only 28% of businesses in the United States are selling their products online (SBA, 2014)

In Europe as a whole, online retailers in 2015 are expanding 14.2 times faster than conventional outlets, creating major strategic issues for store-based retailers (Centre for Retail Research, 2014)

An international survey of 32,000 consumers by CBRE found that 79% still like to visit the store to feel and see products as part of the purchase journey (Lowe Open, 2015)

Retail sales in 2014 grew by around 2.3% in the UK, the best retail sales performance since before the recession (Centre for Retail Research, 2015)

78% of US consumers prefer to shop in-store and they spend six times more in-store than online (TechCrunch, 2014)

By 2017, 84% of UK retail activity is forecasted to still take place within bricks and mortar (emarketer, 2014)

Research shows that more than 40% of shoppers walking out of stores have done some form of ‘pre-shopping’ (emarketer, 2014)

If shopping habits online were translated into a physical shopping trip, UK consumers would have to walk over 6.8 miles per week to visit the equivalent number of stores (Webloyalty 2015)

73% of US consumers want to try on or touch merchandise before they make a purchase (Techcrunch, 2014)

In the US 65% of people do not ask for help, 72% of customers engage in showrooming and 78% conduct research online before arriving at a physical store (NRF, 2015)

Singapore has almost double the retail space per person than Australia, despite being 10,000 times smaller than Australia geographically (Ecommerce, 2015)

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85% of Singaporeans say they visit a physical store each month, whereas only 49% visit an online store (Ecommerce, 2015)

By the end of this decade, online spending will account for some 21.3% of all retail sales in the UK, up from just under 11% of spending in 2012. Physical stores which will see their share of spending decline by 10.6 percentage points over the same period (Telefonica, 2014)

UK sales made directly via stores will grow by 2.9% by 2020, however, the total sales influenced by stores will grow by a substantial 13.6%. In fact, by 2020, stores will influence or touch upon almost 89% of all spending (Telefonica, 2014)

90% of Brits think it is important to be able to try things on (Telefonica, 2014)

85.1% of Brits feel that stores are an important place to return items (Telefonica, 2014)

79.3% of Brits say that stores are a place to make a complaint (Telefonica, 2014)

76.3% of Brits say that a physical store is somewhere to collect something ordered online (Telefonica, 2014)

75.4% of Brits say that a store is a place to get inspired (Telefonica, 2014)

62.7% of Brits say that a store is a place to find out about latest trends (Telefonica, 2014)

50.9% of Brits say that a store is a place to be entertained (Telefonica, 2014)

77.3% of Brits say that a store is a place to seek advice about products (Telefonica, 2014)

72% of Brits like to use both online and instore shopping (Telefonica, 2014)

33.8% of Brits agree that the high street will eventually disappear because of online shopping (Telefonica, 2014)

51.0% of Brits agree that is is more pleasurable to shop in store than online (Telefonica, 2014)

72.9% of Brits think prices are lower online than in store (Telefonica, 2014)

48.3% of Brits say that delivery charges put them off shopping online (Telefonica, 2014)

37.1% of Brits are put off by inconvenient delivery times (Telefonica, 2014)