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NRF Examines Retail Shopping, Technology and Demographics

Posted by Joe Gargiulo on Fri, Sep 29, 2017 @ 10:54 AM

retail shoppingConsumer View,” a new quarterly research project by the National Retail Federation, looks at “shoppers’ experiences with technology, what brings Millennials and Gen Z into the store and what differentiates the online and in-store shopper” in its inaugural publication. Focus areas include retail shopping by the generation, technology, store visits, browsing and intent, and customer satisfaction. Highlights follow.

Retail Shopping by the Generation

The opening component compares online to brick-and-mortar shoppers by demographics:

  • 21% of 18 – 24 year olds are primarily online shoppers while 79% of those 35+ are primarily in-store shoppers
  • 48% of online shoppers always research a brand’s value while only 13% of in-store shoppers do the same
  • 45% of online shoppers would stop shopping their favorite brand if it contradicted their values while only 23% of in-store shoppers would follow suit.

Technology

retail shoppingResearchers surveyed “Which of the following technologies have you heard of? And which, if any, have you tried while shopping in a store or online?”

  • The results show that only 68 percent of respondents are aware of mobile payments with that figure split between those who “have tried” and “haven’t tried” the purchasing option.
  • In the area of “buy online, pick up on store,” 65 percent are aware of the service, but only 50 percent have tried it.
  • Finally, 30 percent have heard of  “in-store digital displays” with only 15 percent actually using them.

Retail Shopping in Stores

The numbers for in-store visits is encouraging. According to researchers, “half (49 %) of Millennial/Gen Z respondents say they are shopping in stores more than they were a year ago.” Furthermore, 52 percent of Millennial-Generation Z shoppers said “A new retail store or shopping center opened near me.”

Retail Shopping Satisfaction

Researchers say customers are most satisfied with technologies that streamline the store experience, from checking out to finding and picking up the items they need. They added that “the most impactful innovations for today’s shopper are those that transform, not replace, the physical retail experience.”

According to researchers:

  • 68% of customers are satisfied with buy online, pick up in store
  • 66% are satisfied with in-app store navigation
  • 65% are satisfied with mobile payments

The full study is a must-read for anyone involved with retail shopping. CrossCheck has been providing payment options to merchants since 1983.

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Tags: Retail