A Paradigm Shift In Retail Consumer Behavior
When it’s time for me to buy new running shoes, I research new models online, then go into the store to try them on. I always buy the same brand, but every year the new models have a different look and feel. I like to go into the store to see how they fit and talk to the store associate about features.
At TimeTrade, we recently conducted a retail survey of over 1,000 consumers which revealed similar sentiment, as 85% of respondents report they like to shop in the store because they like to ‘touch and feel’ products. As further discussed in our State of the Retail 2015 report, this reveals the paradigm shift in consumer buying behavior as shoppers do most of their shopping or “discovery” online, then go into the store for final purchasing decisions.
Even traditional e-tail giants such as Amazon and Warby Parker are aware of this shift as they are opening physical store locations. This supports the notion of retail convergence, or the converging of the online and physical store.
Leading retailers are aware of these changes in buying behavior and provide an omni-channel experience that addresses the whole customer journey, not just certain channels.
To learn more results from our retail survey and more in-depth analysis about the state of retail, you may attend my webinar which will be held Tuesday, June 2nd at 2:00 pm EST.