In-store shopping preferred over online shopping according to CBC survey

Madison, NJ The retail industry is in the midst of change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates (CBC) survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today. 

According to the survey, nearly half (47%) of U.S. adults prefer to make purchases in-store over shopping online.  

“Despite doomsday headlines about the retail industry and how e-commerce has taken over, our survey has found that Americans still enjoy and remain loyal to in-store shopping, regardless of the retail climate,” said Fred Schmidt, president and COO of CBC Affiliates. “When asked a similar question in 2016, 43% of Americans preferred to shop in-store over online, and this year it’s ticked up to 47% of Americans. All-in-all, this shows that brick-and-mortar retail remains steady, but there is work to be done to keep the industry relevant.” 

The survey, which was conducted online in August by Harris Poll on behalf of Coldwell Banker Real Estate, dba CBC Affiliates, surveyed over 2,000 adults, including 194 younger millennials (18-29), 160 older millennials (30-34), 479 gen xers (ages 35-49) and 884 baby boomers (50-69), to reveal Americans’ attitudes toward the retail experience and to discern how retailers could evolve in today’s increasingly competitive retail industry.

Retail Technology is Making an Impression 

As U.S. adults become more comfortable with technology in every aspect of their lives, the affinity for it seems to be spilling into their shopping preferences as well.

· Self-serve checkouts: Over one-third of U.S. adults (35 percent) say that in-store technology, like self-serve kiosks and checkouts, improves their shopping experience

· Staying in Touch: When it comes to staying in touch with their favorite brands while shopping via in-store tracking and notifications, Younger Millennials prove that they are digital natives, with 4 in 10 (41 percent) showing interest in this

· Virtual Retail: The application of virtual reality (VR) is a relatively new concept in the world of retail, but it seems American adults are becoming more comfortable with it. In 2016, 10 percent of Americans were open to using augmented or virtual reality while shopping in store. This year, 17 percent of U.S. adults were open to this, while nearly 3 in 10 Older Millennials aged 30-34 (28 percent) reported interest in VR technology while shopping in store

“Increasingly, American households are introducing more and more technology into their day-to-day routines, and it’s only natural for them to expect more from their retailers,” said Schmidt. “Not surprisingly, the Millennial crowd is more interested in these features than other generations and I expect these numbers to grow over time, not just as we become exposed to more tech, but also as Gen Z acquires more purchasing power as they grow older.” 

Mom-and-Pops Remain Popular, Even Among a Younger Crowd 

Despite the easy availability of goods online and in big box stores, it seems Americans across all age groups still value local small businesses and often prefer to shop in boutique stores.

· Over 40 percent of U.S. adults (42%) say supporting local small businesses is important to them as they make decisions about where to shop. While Baby Boomers are more likely than Gen Xers to say this (45% vs. 37%),, Millennials aren’t too far behind at 38 percent

· Millennials lead other generations when it comes to their preference to shop in-person at smaller boutiques or shops, instead of shopping at larger department stores (27% vs. 17% of Gen Xers and 16% of Baby Boomers)

“Across the board, Americans prefer to support locally-owned, small businesses, whether a traditional mom-and-pop or a more refined boutique store. Naturally, one might ask, ‘what will this mean for large, big box stores?’, and the answer is that they too will have to adapt,” said Schmidt. “In order to remain relevant, big box and department stores will need to look at their large stores and consult with their brokers about reconfiguring space to create a more appealing, boutique look to encourage more foot traffic.”