It’s no surprise that online shopping is revolutionizing the shopping habits of many; however, the perceived convenience of high-tech retail still does not keep shoppers out of the physical stores.
Survey says
A poll was conducted the weeks leading to the holiday shopping season, and two-thirds of Canadians polled stated they would be shopping in retail stores during the busiest shopping season of the year. The poll was conducted by JLL, a commercial property broker.
More than 1,000 Canadian shoppers were surveyed. The shoppers were from various provinces, had varying income levels, and also varied in terms of gender and age. The survey was open-ended and the shoppers provided responses to all that applied to them.
The main takeaway is that “Canadian consumers are leveraging both physical and online stores” according to the retail research manager at JLL. Many shoppers use online retail as a way to help target what they want and to make an inform decision, versus for actually purchasing.
Online retail compliments physical retail
About a decade ago when online retail was gaining in popularity many advocates argued that physical retail would be forced to extinction due to the increasing online shopping options. Now fast-forwarding to 2020 and this could be further from the truth. They compliment one another.
In-store retail and online retail supports and strengthen each other. Shoppers with smartphones find product research and reviews easy to locate online. As a result, the poll showed that many Canadian retail shoppers use e-store websites to check ratings, inventory, to get gift ideas and find discounts, then they venture out to purchase the product in-store.
This shopping behavior demonstrates that shoppers like a seamless experience and considering that almost everyone in Canada has a smartphone, this technology has made online browsing and product comparison much easier to do.
Leveraging shopping behavior
Retailers and owners of physical commercial retail property should take note in the science of shopping. Providing the ‘buy online, pick up in store’ (BOPIS) option may be the perfect formula to increasing sales in 2020.
In order to successfully implement BOPIS process the retailer should hire a developer or programmer to create their e-store, and then, they need to manage the online store, inventory, and be sure to have dedicated space inside the retail store and in the parking lot for convenient pick-up.
Brand awareness from having a physical store helps attract more web traffic and sales.
In the BOPIS system, shoppers who buy online, then go to pick up their goods from the store become prime targets for more purchases. The bonus for retailers who provide good service will notice that many times shoppers will also purchase more products once arrive at the store if they feel they had a great shopping experience thus far.
Summary
Regardless of age, gender, and income level the survey shows that Canadian shoppers like a seamless shopping experience. Product reviews, discounts and brand awareness are pivotal to making a purchase and they leverage online retail data to make online and in-store purchases.
Accordingly, retailers should seek to leverage their brand with both in-store and online retail. Contact ReDev Properties once you are ready to add physical retail to your portfolio.