Buh-Bye Stores, Hellooo ONLINE SHOPPING! The Wall Street Journal said it best back in 2013 when they released their article stating that more consumers prefer online shopping, and we are HOOKED! Who knew they’d be on point about the Millenials state of mind?
The mere fact that we now live in a world where want, need, and delivery all come instantly there is no doubt as to why we are all devoted to the virtual shops. It’s a fact, majority of all smartphone users make online purchases, and why wouldn’t they? No need to dress, no need to travel…just click and pay – then it’s just a waiting game. Online shops even offer same day delivery thanks to Amazon direct and Messenger Services.
But it’s gone beyond the simplicity of a click and shop. The virtual experience has shown to be more favorable than dealing with the hope of a positive customer service experience. While online you can get FAQ’s answered, at times there’s live chat, you choose your pieces, your delivery date, no lines, no fuss, no mess, and you often receive brand new product and not have to hear “there is no backstock.” Downside? It may or may not fit – but return and exchange methods are making this too easy.
So what does this mean for the Brick and Mortar stores? Well, there has been a dramatic shift. Among some of the findings, shoppers increasingly want what’s known as “seamless omnichannel experience” – which is just a fancy way to say combine online and store on hand shopping. It has become such an increased focus for shoppers that customers prefer to shop at stores that offer buy online and return to store options. The other craze is buying online to pick up at a store; which is good for retailers as more than one third buy extra things while in the store (ever had a target experience? – yup, that’s what we mean).
But truth is, over time, people are getting more and more comfortable shopping online. Therefore, unfortunately, there will be a severe continued pressure on all brick and mortars as traffic begins to get comfortable. Don’t believe us? The Wall Street Journal just released that Amazon accounted for 60% of the total US online sales growth alone last year. This is from the 51% of 5k shoppers surveyed that purchased on the web. The survey also polled shoppers who make at least two online purchases in a three-month period – and this excludes groceries (because we can get those online too). And why wouldn’t they? Amazon offers it’s consumers low cost shipping with speed making it the new status quo. Thank you comScore inc for the analytics.
And this is just the beginning – Before we know it, we may not know any other form of shopping.