Mobile and online sales are a threat, but there’s more to those channels than just the obvious bad news. [level-members]
We recently came across this quote on The Hub.
A study we conducted among 1,000 shoppers across channels revealed that the in-store and at-shelf experience are still the leading purchase triggers influencing 65 percent of the population. A Deloitte study revealed that 49 percent of those who visited a brick-and-mortar store examined a product at retail and then purchased it online, while 69 percent examined it online before purchasing it in-person at a store.
What’s the take-away?
- The in-store experience still matters to the majority of the buying public
- Online sales are a threat – about half of consumers “showroom” and then buy online
- Brick and mortar still matters – more than two-thirds of shoppers research online and then buy in person
So don’t lament getting creamed by online competition. Understand that your position as a local retailer gives you certain strengths and certain weaknesses. Highlight those strengths and you’ll have no problem competing.
Those strengths center around customer experience. It’s not price – online is always cheaper. It’s not convenient – who wouldn’t rather shop from home in their underwear? It’s a combination of getting great advice, having a friendly encounter, and feeling that you’ve gotten great value for the time and joey invested in the purchase.