While the boundary between online and offline shopping universes is rapidly disappearing, retailers avail themselves of a number of digital solutions to boost the offline shopping experience. Consequently, digital technologies presently affect an impressive 36 percent of in-store retail sales. If that was not enough, this number is expected to hit a whopping 50 percent of in-store sales by the end of this year.
While the boundary between online and offline shopping universes is rapidly disappearing, retailers avail themselves of a number of digital solutions to boost the offline shopping experience. Consequently, digital technologies presently affect an impressive 36 percent of in-store retail sales. If that was not enough, this number is expected to hit a whopping 50 percent of in-store sales by the end of this year.
According to the recently released report by Deloitte, based on the 2013 survey of more than 2,000 shoppers across the US, the impact of digital solutions on the way consumers shop and make purchase decisions is rapidly growing. For instance, smartphones alone influence $593bn (19 percent of all in-store retail sales; data from the end of 2013). Conducted in March this year, Gallup's poll in the US confirmed that mobile technology helped drive in-person retail shopping. Among US consumers polled, 22 percent claimed that mobile had actually increased their retail store trips.
Shopping journey gone digital
Let's face it: mobile usage before or while shopping in a store accounts for as much as one-fifth of US in-store retail sales. Deloitte's report emphasized the impact of digital on almost each area of the purchase decision process, from awareness and evaluation to conversion and post-conversion brand loyalty. The survey revealed that 84 percent of visitors reported using digital for shopping-related activities before or during their most recent trip to a store. Moreover, consumers who used a device during their shopping journey converted at a 40 percent higher rate. Digital also boosts sales: 22 percent of consumers spend more as a result of using digital solutions. 75 percent of consumers said product information found on social channels influenced their shopping behavior and enhanced brand loyalty.
It's hip to be thrifty
Digitalization of in-store shopping also includes coupons. In general, consumers tend to depart from paper coupons and gravitate more toward digital deals. Personalized offerings, based on data collected about individuals’ shopping preferences, also are part of the coupon trend. Digital coupons also are less costly for grocers to process. Little wonder that as much as 55 percent of US internet users 18 and older are expected to redeem digital coupons or codes via any device for online or offline shopping at least once in 2014 (report by eMarketer). The same study revealed that over 70 percent of US adult digital coupon users will redeem a coupon or code on a mobile device for online or offline shopping in 2014. The trend is gathering strength, as proved by more data. In 2012, just under half of shoppers redeemed a digital coupon or code via mobile, as compared to almost two-thirds a year later. In 2014, eMarketer predicts that over 70 percent will do so. What does it mean? Approximately 43.25 million internet users in the US will have used a mobile device to redeem a digital coupon/code at least once in 2014; and the majority of them will do that in-store.
Sources: http://socialmediatoday.com; http://www.dispatch.com; http://www.wwd.com; http://www.emarketer.com
Photo: https://www.flickr.com/photos/esthervargasc/