Dive Brief:
- Consumers are shifting between online and in-person shopping to make their holiday purchases this year, but brick and mortar remains the most popular channel. Two-thirds of U.S. consumers are shopping at brick-and-mortar locations, according to an EY-Parthenon survey of 13,000 global consumers, including 1,000 in the U.S., released earlier this month.
- Nearly three-quarters of Gen X plans to shop in stores. Digitally native Gen Z is also more likely to shop in store than online, with 63% saying they will make purchases in store in comparison to 50% online.
- Shoppers browse in-store primarily to experience a product, while the top three reasons to shop online are to learn about products, get gift inspiration, and find out about sales and promotions.
Dive Insight:
While online shopping provides consumers with discovery, the ability to experience a product drives customers to stores.
Online is still a main shopping channel. Nearly 3 in 5 shoppers still use online retailers to purchase holiday gifts, and EY-Parthenon predicts e-commerce will account for 20% of holiday purchases.
Social media is also growing as a shopping channel. One-quarter of U.S. consumers say they plan to buy shoppable social media.
“As the range of sales channels to purchase items grows, the importance of creating seamless experiences both in store and digitally is paramount,” Isaac Krakovsky, EY Americas Consulting Retail Leader, said in a prepared statement. “Successful retailers are meeting shoppers wherever they are with convenient, personalized and accessible experiences both in store and online.”
Some retailers are creating seamless experiences by improving their buy online, pick up in store offerings. Google has updated Google Lens to allow consumers to look up a product’s details and inventory online for the physical location they’re in.
