Article by: Dan Berthiaume
Price is important, but something else is also a critical differentiator for brick-and-mortar retailers.
According to the “State of Consumer Behavior Report 2020” from digital signage and in-store solutions provider Raydiant, 69% of respondents said a good in-store experience is either important or very important to them. More than six in 10 (62%) find store associates helpful.
While 57% of respondents said they would shop more at physical locations for exclusive discounts not available online, 23% said they would shop more if stores provided unique experiences. The omnichannel experience is also critical, especially regarding price comparisons. More than 68% of respondents had searched for a better price online after finding a product at a physical store.
Other key findings include:
• Of respondents aged 18 to 34, 55% prefer to shop online, while 57.5% of those over 35 prefer to shop at physical locations.
• People who prefer to shop at physical locations name the ability to see and touch products as their primary differentiator (40%), followed closely by an enjoyable shopping experience (38%).
• For men, the shopping experience (44%) is more important than the ability to see and touch products (23%). Women feel differently, with 46% prioritizing the physical presence of products and 35% preferring the experience.
• People of all ages who prefer shopping online name convenience as their primary motivator. For young people, access to discount codes came second at 23%, while older shoppers enjoy the ease of price comparison (11%) and transaction speed (11%).
“The findings confirm our belief that brick and mortar is not dying, it’s simply evolving and that the retailers who are focused on creating true in-store experiences are positioned to thrive as the retail landscape continues to evolve,” said Bobby Marhamat, CEO of Raydiant.
The report surveyed 1,000 U.S. consumers in January 2020.