How channel habits are shifting
Since we first surveyed in 2010, it seemed people were buying from physical stores less often. By 2014, only 36% of respondents said they shopped at bricks-and-mortar at least weekly. But since then we have seen increases in weekly bricks-and-mortar shoppers, from 40% in 2015 up to 44% in this year’s survey. Physical shopping is, in fact, not falling out of favour as an activity. Why have weekly store visits been on the rise? It’s likely that shoppers are seeking something else. Instead of a practical errand, they’re seeing shopping increasingly as a sensory and social experience.
The main drop-off has been in purchases by personal computer (PC), which fell from 27% to 20% over the six-year period. Tablet buying rose only slightly, from 8% to 12%. But mobile commerce more than doubled, from 7% to 17%—and will likely soon surpass PC-based buying.
Sources of inspiration: the new influencers
Another new habit has major ramifications for how companies communicate sales messages: consumers want to know what their peers think. When asked where they went online to get inspiration for purchases, a plurality (37%) chose social media, with individual retailer websites at 34%. Perhaps most interesting was that emails from brands or retailers were named by just 14% of global respondents, meaning that that mode of outreach doesn’t resonate with consumers who reject intrusive sales pitches and searching for authenticity.
Addressing new consumer behaviour
Together these new habits — smartphone-based shopping and the in-store experience — offer an opportunity for savvy retailers and manufacturers. They can reduce their on-site inventory and free up space for a more engaging showcase of their products, offering brand-complementary activities. And thanks to the ubiquitous smartphones, these investments may not be so capital-intensive. Instead of making room for large in-store video screens, for example, stores can simply invite shoppers to access videos on their smartphones from the cloud.
Ambitious retailers can go further and offer virtual reality, but this trend is still moving slowly. More than a third of respondents still had not experienced this technology in stores, and of those who did, only slightly over half were satisfied.
Companies should respond to these new consumer habits by shifting their focus and investments accordingly. That means more attention to smartphone dynamics, as well as investments in AI and store experiences. New business practices to support these investments can help companies go with the flow of new consumer behaviours, rather than fight the current.
Vocabulary Highlight
1. bricks-and-mortar (n)
/ˌbrɪk.ənˈmɔː.tər/ relating to building activities → Tòa nhà, cửa hàng, xưởng
The college wants to borrow $102 million for brick-and-mortar projects like a new science building.
(Trường muốn vay 102 triệu đô la cho các dự án gạch như một tòa nhà khoa học mới.)
2. errand (n)
/ˈer.ənd/ a short journey either to take a message or to take or collect something → việc vặt
I’ll meet you at six, I’ve got some errands to do/run first.
(Tôi sẽ gặp bạn lúc sáu giờ, tôi có vài việc lặt vặt phải làm trước.)
3. slightly (adv)
/ˈslaɪt.li/ a little → nhẹ, một chút
I’m slightly worried that she’ll get lost on the way.
(Tôi hơi lo lắng rằng cô ấy sẽ bị lạc trên đường.)
4. inspiration (n)
/ˌɪn.spɪˈreɪ.ʃən/ someone or something that gives you ideas for doing something → Nguồn cảm hứng
The golden autumn light provided the inspiration for the painting.
(Ánh sáng mùa thu vàng cung cấp nguồn cảm hứng cho bức tranh.)
5. ramification (n)
/ˌræm·ə·fɪˈkeɪ·ʃən/ the possible result of a decision or action → sự phân nhánh, sự phân chia
Have you considered all the ramifications of changing careers at this stage of your life?
(Bạn đã xem xét tất cả các nhánh của sự thay đổi nghề nghiệp trong giai đoạn này của cuộc đời bạn?)
6. authenticity (n)
/ˌɔː.θenˈtɪs.ə.ti/ the quality of being real or true → Sự xác thực
The poems are supposed to be by Sappho, but they are actually of doubtful authenticity.
(Những bài thơ được cho là của Sappho, nhưng chúng thực sự có tính xác thực đáng ngờ.)
7. savvy (adj)
/ˈsæv.i/ having or showing practical knowledge and experience → hiểu biết
He dazzled the country as a modern, media-savvy politician.
(Ông làm choáng váng đất nước như một chính trị gia hiện đại, am hiểu truyền thông.)
8. inventory (n)
/ɪnˈventəri/ stocktaking the counting of all the goods, materials, etc. kept in a place such as a shop → Hàng tồn kho
Clothiers’ inventories proved in the local courts suggest that the most successful were coping well with inflation.
(Hàng tồn kho của Clothiers đã chứng minh tại các tòa án địa phương cho thấy rằng những người thành công nhất đang đối phó tốt với lạm phát.)
9. ubiquitous (adj)
/juːˈbɪk.wɪ.təs/ seeming to be everywhere → phổ biến
eather is very much in fashion this season, as is the ubiquitous denim.
(Da có rất nhiều trong thời trang mùa này, cũng như denim rất phổ biến.)
10. investment (n)
/ɪnˈvest.mənt/
the act of putting money, effort, time, etc. into something to make a profit or get an advantage, or the money, effort, time, etc. used to do this → Sự đầu tư
The government wanted an inflow of foreign investment.
(Chính phủ muốn một dòng vốn đầu tư nước ngoài.)
Người dịch: Nhung Nguyễn
Nguồn: pwc.com
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