52% of millennials prefer to shop at a physical store because of the ability to interact with the product. Did you know that?
This is according to research conducted by Deloitte in their 2017 Deloitte holiday retail survey Retail in transition.
Generation Z on the other hand, liked that by shopping in physical stores they avoided shipping costs, with 72% of the respondents listing this as being the top three reasons for shopping online.
The report further investigates the motives behind brick-and-mortar spending. They determined that 62% of respondents with a household income of 100k or more shopped in a physical store due to the ability to interact with the product.
And the motivation behind online shopping? Deloitte reports that households earning 100k per annum or more listed time savings (80%) and the convenience (78%) as top reasons for online shopping. Similarly, those in the $50- $100 income bracket, convenience and saving time were top picks.
Baby Boomers and Generation X are all about the convenience of online shopping while seniors appreciate the free shipping and home delivery.
Read the full 2017 Deloitte holiday retail survey – retail in transition report here
This report highlights the need to segment your shoppers and know how to effectively prioritise these segments? Do you understand the potential value that the segment represents as well as the relative ease or difficulty of realizing that potential?
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