The main reason global consumers leave a retail store empty handed is due to lack of product availability or not being able to find their desired item, according to results of iVend Retail’s new Global Path to Purchase survey.
As you can imagine, there are distinct behavioural differences per country – with UK consumers less likely than other nations to browse in a store prior to making a purchase online, and German shoppers among the demographics most likely to leave a store because they can’t find what they need.
What’s interesting to see is UK consumers appear less motivated by price than other nations in terms of the reason they shop on their smartphones outside the store. The report also shows that Germans, in particular, cite the “fun” factor as a key reason for joining loyalty schemes and for using their smartphones in the shopping process.
Converting the shopper
Only 4% of global shoppers said they had never walked out of a store without making a purchase, but we think the key reasons for the vast majority of people leaving empty-handed can easily be addressed by implementing a connected retail approach and proactive salesmanship.
Some 73% of shoppers in Germany said not being able to find what they needed was the prime reason for abandoning a store trip – only in Canada (76%) and South Africa (74%) was this a greater problem – and it’s a challenge easily solved with omnichannel inventory management systems.
Using this technology and empowering staff to approach shoppers in a store should allow the retailer to locate the item – whether it is in that shop or held in a warehouse – and convert the sale that otherwise would not have taken place. We’re strong believers that associates working in conjunction with sophisticated technology help solve many of consumers’ major pain points.
Tackling the mobile shopper
Our survey shows 72% of global consumers shop on their smartphones in their spare time, at home or while travelling, while 60% of shoppers around the globe use their devices in the store environment.
Outside the store UK consumers cite convenience as their main reason for mobile shopping, but in Germany it is to research the best prices. Inside a store, the top reason both nationalities shop on their mobile is to check price – although it is far less of a pressing issue when compared globally.
Those in Mexico and Philippines are much more likely to use their phone in the shopping process to monitor pricing.
Understanding this gives retailers a chance to set up their mobile sites in the desired way, tailored to individual countries, as well as consider the best ways to communicate messages to consumers’ smartphones at different points on their shopping journey.
Knowing exactly what motivates shoppers either in store or online is a fast-track way to helping retailers identify the omnichannel solutions they need to convert passive consumers into loyal and valuable customers. A look at iVend Retail’s report will give retailers an opportunity to shape their strategies based on what today’s consumers are actually saying.
Everyone in retail knows the benefits of staying close to consumers, in order to provide them the relevant products, services and experiences. Going beyond a simple tally of how people shop, the iVend Retail report digs deep into the impetus behind their behaviours – making it a must read for customer-focused retailers looking to stand out from the pack.