Plenty of people would love to announce the death of bricks and mortar retail, the demise of the local shopping centre and the rise of the online store, but in reality, is it really happening that way?
It seems perhaps not. A report from AMP Capital (owners of plenty of major shopping centres it should be noted), indicates that the younger generation – or “Future Shoppers” as they are calling them quite like the traditional shopping experience.
87% of the future shoppers like or love shopping in-store, compared to 79% who like or live online shopping.
But it’s the detail that matters. What this next generation are looking for is a complete hybrid experience.
They are checking stock availability before visiting a store, they are researching in-store in big numbers and there’s something strange going on about a desire to shop in groups.
But it’s that online and research trend that’s critical here.
It seems clear customers are responding to new technology in the in-store experience. We love the idea of making a shortlist of products online, and that can allow retailers to send alerts and reminders when you are near the store. We also like the idea of getting special offers in-store through the location based knowledge of your smartphone.
Mark Kirkland, Managing Director of AMP Capital Shopping Centres, said: “The findings of the 2017 RRP report are significant as it confirms that the future of retail is bright, with a range of new opportunities at our fingertips. The research highlights the importance of developing fun, social experiences in-store and the opportunities that emerge once brands and retailers align their online and offline offerings. AMP Capital’s RRP report also confirms Australians are ethical shoppers, who are willing to invest in sustainable brands, and that male Future Shoppers are the new trend setters when it comes to fashion.
“It also provides useful insights that can be shared across our industry, inspiring innovation and creation of engaging experiences that attract both Current and Future Shoppers and ensure the continued success of our sector.”
No-one has yet nailed the touch and feel, and face-to-face shopping experience in an environment other than traditional retail.
With 63% of the next generation of shoppers loving the use of retailers wish list functions there’s something to be said about ensuring there’s a solid investment in apps and online.
And when it comes to blokes, we’re a “whole new ballgame” with 46% saying they are more interested in staying ahead of popular trends – in women that number is 36%.
Strangely, younger blokes enjoy shopping with others 56 per cent of male “Future Shoppers” say they have more confidence when shopping with others compared to 29% of the older generation.
Perhaps they’ll grow out of that:)