January 16, 2019 | Contributed by: LSA Editors
The term “retail apocalypse” is probably overused, but it captures the challenges traditional retailers are facing in a more fragmented and complex market. One of the major challenges for stores is driving foot traffic and repeat visits in the era of one-click commerce.
A new survey from Yes Lifecycle marketing of 1,000 consumers revealed some of the factors driving consumers to shop at brick and mortar retailers. They include: the store is visually appealing (49%), availability of additional services beyond the products (29%), local events (23%) and use of in-store tech (16%).
Younger shoppers are more interested in unique and innovative in-store experiences than older shoppers. Just under 60% of centennials said they shopped in-store for visually appealing displays (compared with 43% of baby boomers, 48% gen X), while 42% of millennials said they liked the additional services the in-store experience offered (vs. 19% baby boomers, 26% gen x).
Additionally, the majority of consumers are becoming increasingly interested in retailers’ mobile apps, with 57% reporting that they’ve used them in-store. App-using consumers are especially focused on special deals and promotions, with 65% utilizing them to redeem coupons, 57% to find coupons and 46% to find sale items.
Understanding customer needs and creating engaging in-store experiences is challenging but critical. Elements that provide consumers with added value in store — interactive product displays, informative service, live events and new technologies — will help differentiate from online only sellers and prevent the retail apocalypse.