Shape Your Retail Strategy For Digital-First Shopping
In Australia, more money is being spent online than in-store; the trend is similar in New Zealand. Customers almost always go online to seek more information about the problems or needs they want to solve or satisfy, eventually making the shopping experience digital. So, the challenge for businesses and brands is to provide information throughout the consumer journey.
According to a study by Google, people below the age of 55 predominantly shop online and this trend continues to hold true post-Covid 19. Consumers are exploring, discovering, and building their awareness online. It is safe for a brick-and-mortar store and product brands to remember in this new era “Retail Never Sleeps”.
Although 85% of non-food shopping happens in-store it is important to note that motivations for in-store shopping are getting online variations, for example, Customers go in-store to check on size, color, features, and durability among other information. This can be compared to tons of un-boxing online content which satisfies the same motivation. Consumers also get to see availability online and all they need is to click & collect (think Amazon).
Online and in-store shopping are no longer separate pathways. Businesses should see the two as interconnected and invest in harmonizing the business strategy in place. Remember, 2/3 of customers will shop & research online before visiting the store.
It is therefore imperative for businesses and brands to be helpful to customers everywhere through automation and targeting the right message to the right customer. There is an urgent need to connect digital and in-store experiences and realize commerce everywhere!