SAN FRANCISCO, April 11, 2018 (GLOBE NEWSWIRE) -- Euclid, the leading data platform for offline attribution and store visit retargeting, today revealed results of a new survey that found consumers, particularly millennials, increasingly expect an “Amazon-like” experience when shopping in-store. Accordingly, retailers must develop engaging, convenient experiences to meet changing demands.
Euclid’s “The Store of the Past Meets the Shopper of the Future: Can Retailers Meet Modern Consumer Expectations?” report, based on a survey of 1500 respondents, found shoppers were increasingly open to a variety of shopping channels, appreciating the unique attributes of in-store and online models. Millennials are the most channel-agnostic, seamlessly switching between buying online (52 percent) and in physical stores (59 percent) weekly, with nearly one in three shopping via convenient subscription services.
Pop-up stores were flagged as a compelling trend, with 30 percent of shoppers indicating competitive pricing was the most appealing feature, with another 28 percent noting convenience and location. This openness to new, innovative models underlines both the continued relevance of physical stores and importance of a truly seamless multi-channel strategy.
Millennials gravitated toward two different ways of shopping. When in “get-in and get-out” mode, convenience was their primary goal, with nearly half (47 percent) reporting they buy online and pickup in-store frequently (40+ percent of the time), compared to 30 percent of Gen Xers and just 14 percent of Baby Boomers. However, millennials also viewed shopping as an immersive, social activity focused more on the experience than the product they take home, with one in four preferring shopping as an activity shared with friends and family. Just 19 percent of Gen Xers and 20 percent of Boomers felt the same.
While consumers expect a reasonable level of customized communication, more marketing is unlikely to influence shoppers. All demographics surveyed were united in their shared dislike of over-marketing, with more than half of consumers willing to unsubscribe from a retailer’s mailing list for too many emails, and 40 percent ready to unsubscribe if they received irrelevant recommendations. Millennials are especially skeptical of advertising, with less than a third (31 percent) reporting that seeing an ad would motivate them to visit a physical store.
"This is sink-or-swim time for physical retailers," said Brent Franson, CEO of Euclid. "Over-marketing is a huge turn-off to most consumers. New buying models are winning over millennials and others who value modern shopping channels. And shoppers want from physical stores what they get from Amazon: a frictionless buying experience. The question is, will brick and mortar retailers deliver? They’re certainly positioned to do that, if they shape the store experience to align with consumers’ high expectations for convenience."
To download a free copy of “The Store of the Past Meets the Shopper of the Future: Can Retailers Meet Modern Consumer Expectations?”, visit: http://go.geteuclid.com/Shopper_of_Future
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About Euclid
Euclid illuminates identity and behavior in the physical world. Today’s mobile-first customer provides the opportunity to recognize every visitor who walks in the door, understand what drove that visit and retarget to influence a purchase. Marketers from the leading retail and restaurant brands rely on Euclid’s data platform to better reach, inspire and serve their customers, increasing their lifetime value in the process.
Euclid's growing offline network captures hundreds of millions monthly visits from over one billion unique devices across tens of thousands of locations.
Euclid is backed by leading venture capital firms Benchmark Capital and NEA, as well as Cox Enterprises and Groupe Arnault, the controlling shareholder of LVMH – Moet Hennessy Louis Vuitton, the world leader in luxury products.