Survey reveals the top feature that attracts shoppers to physical stores
It’s still all about the price when shopping brick-and-mortar.
The number one factor that will draw customers to a physical store is price, according to “Analogue to Automated: Retail in the Connected Age,” a survey of 4,811 consumers and 1,000 retailers across 10 countries from Displaydata and Planet Retail. Specifically:
• 80% of shopper respondents say price is the number one factor for making an in-store purchase. • 67% say consistent online and offline pricing is the top reason for shopping in a store. • 53% say in-store pricing is occasionally inaccurate. • Only 18% will shop with confidence at a store again if they are overcharged.
Consumers also indicate a willingness to shop at a store that features dynamic pricing, depending on the reason:
• 65% of consumer respondents are open to dynamic pricing for sell-by-date items. • 54% are open to dynamic pricing to clear surplus stock. • 52% are open to dynamic pricing to match prices.
Between one-quarter and one-third of consumers are interested in receiving digital offers and rewards in-store:
• 33% of consumer respondents want location-based offers sent to them. • 27% want to be recognized by the store. • 25% want to call for help from the shelf edge.
However, higher percentages of shoppers are interested in a number of omnichannel features in the store:
• 76% of consumer respondents want more digital experiences in the store. • 67% say store technology influences their choice of retailer. • 43% want to return online purchases in-store. • 31% want electronic shelf labels (ESLs).
The survey also examined retailer attitudes toward and readiness for providing digital solutions and services in their stores. Notable results include:
• 54% of retailers want to identify in-store shoppers. • 50% want to send offers based on in-store purchases. • 42% plan to use digital loyalty in-store. • 77% say having a complete view over inventory is essential. • 76% say omnichannel engagement is challenging. • 76% want to give more info at the shelf edge. • 42% say digital engagement is a key priority. • 77% say ESLs improve margins and in-store efficiencies. • 40% plan to install ESLs. • 67% spend up to 5% of monthly store turnover making manual price changes.