E-commerce appeals to the young, wealthy and affluent, according to a new survey commissioned by the National Retail Federation that was released on Wednesday at Shop.org.
Among consumers who make more than half of their purchases online, 49% are 18-34 years old, 53% earn more than $75,000 a year and 53% live in a city with a population that’s at least 50,000.
Even so, the survey finds that only about one in five consumers, 21%, make more than half of their purchases online. That percentage jumps to 34% among millennials, which NRF defines as those between the ages of 23 and 36, and generation Z, which it defines as those between the ages of 18 and 22.
The survey, which was run by market research firm Toluna Analytics, is the first Consumer View report. NRF envisions Consumer View as a quarterly report that gauges consumer behavior and shopping trends related to stores, e-commerce, customer loyalty, technology and other issues. The initial report is based on Toluna’s survey of 3,002 consumers between July 20-25.
Despite a number of presentations that focused on the dramatic growth of e-commerce, Matthew Shay, NRF president and CEO, sees the results as a sign that stores continue to play a crucial role within retail. “The bricks-and-mortar store is still the cornerstone of American retail and likely will be for many years to come, as consumers seek authentic interaction and experiences with retailers,” he says.
When asked why consumers might venture into a store, 69% do so because they need an item “right away” and 65% want to see an item before they purchase it (respondents could select more than one response). Among millennials, 55% go to stores as a social activity, 50% go to pick up an item bought online and 44% go to interact with a sales associate.
Consumers are particularly keen on omnichannel technologies, the survey found. For example, 68% of consumers who had tried buy online, pick up in store, said the offering improved their shopping experience. And 66% of those who had used in-app store navigation and 65% of those who had used mobile payment while shopping said the tools were beneficial.Favorite