Are Online Shoppers Likely to Spend Money in Retailers' Physical Stores?
September 16, 2019 | NAI Global
2019 has seen global retailers compete in the race towards omnichannel perfection. While it may look like brands are scrambling to win over today’s consumers, there is solid data backing retail’s latest transformation. GlobeSt reports that consumers who make an online purchase are likely to spend money in that brand’s physical store within 15-to-30 days. When one sale is instigating another, who wouldn’t jump on board?
Bricks indeed drive clicks, but what about vice-versa? Let’s dive in and see what experts have to say about how online shoppers interact with physical stores.
Making Sales On Multiple Platforms
The omnichannel strategy has some strong leverage with today’s shoppers. When brands are seamlessly available on both physical and online platforms, consumers are taking full advantage of that accessibility. This has a beneficial impact on total sales, boosts brand awareness, and enhances the overall customer experience.
ICSC research showcases the tangible results of multichannel franchising: whether the shopping begins in-store or online, it sparks a larger spending yield for retailers. An online purchase of $100 is likely followed by an in-store purchase of $131, and a $100 in-store purchase pushes for a $167 online transaction. The report showcases that an optimized omnichannel system enables physical and digital outlets to act as extensions of each other, with consumers spending continually at both - all within 15-days.
The Omni-Channel Experience
We live in a world that dances between two distinct areas - physical and digital. Tech plays a huge role in our daily lives, so why should our shopping experience be any different? While we all know that today’s consumers love the convenience, instant-gratification, and ease of online retail; some things can’t be gained through a screen. This is where experience comes in to totally change up the game.
When one-click shopping is available, necessity has lost its place as brick and mortar’s security. Instead, there’s a new perk that’s buckling down on the retailer’s physical presence - and it’s consumer experience. Shopping in stores is now being viewed as a luxury pastime, whereas online shopping is the need-based outlet.
Each has its own place in contemporary shopping, and consumers are loving retail’s new dynamic approach. “Simply put, consumers want a great experience whether it is online or in the store” notes ICSC’s President and CEO Tom McGee.
Physical and Digital: A Match Made In Retail-Heaven
The idea that online and brick and mortar retail are bitter enemies is quickly becoming outdated. The real pros know that contemporary success is attained by those who unite these two fronts, and those who resist are destined to fail. Both frontiers have their strengths and weaknesses, but they support each other in a perfect union.
Brick and mortar stores provide their customers with human interaction, giving them an experience that can’t be achieved online. Taking the relationship a step further, brands can give shoppers enhanced customization, convenience, and uniquely catered experiences online. By buying online and opting for in-store pick-up, 67% of shoppers are likely to buy items in-store when they come to get their purchase. This interconnectivity is driving retail forward in 2019 and beyond.
Omnichannel is a two-way street, but it’s clear that it’s boosting retailer’s success.