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Deloitte Consulting has released its annual report entitled "The New Digital Divide: The future of digital influence in retail," in which it explores the differences between what brick-and-mortar retailers are providing to consumers in terms of digital experiences, and what today’s consumers are actually on the lookout for. There’s a couple of key takeaways from this report that any retailer or landlord can benefit from.
The report is chock full of useful nuggets, but these three key pieces of information need to be ingrained in the minds of industry professionals.
● Consumer behavior on digital devices has a substantial influence on the amount they actually spend in the confines of a brick-and-mortar store to the tune of a whopping 56 cents of every dollar they spend. That’s an enormous increase from two years ago when that number checked in at 14 cents, and it’s expected to translate to an eye-popping $2.1 trillion dollars by the end of this year.
● The influence of digital is more apparent in some retail categories when compared to others, with electronics leading the way with 69% of purchases influenced by digital interactions. Several sectors have seen a substantial increase in digital influence on a year-over-year basis, with grocery, food and beverage leading the way with a substantial 49% increase.
● Despite the increase in digital influence, consumers remain independent-minded, and they are increasingly turned off by traditional advertising methods. Nearly two-thirds of consumers prefer a self-directed shopping experience, and a staggering 70% say that traditional advertising fails to spur their decision making or desires.
Those are some fascinating takeaways, and Deloitte has further advice for retailers in the digital age.
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