Younger Consumers Still Value Brick-And-Mortar Shopping
Brick-and-mortar stores are still important to consumers, particularly Millennial and Generation Z (those born in the late ’90s) shoppers. Consumer research firm iModerate found that physical stores play a critical role in building consumer loyalty and providing a positive shopping experience.
In its study of more than 800 consumers, iModerate found that 74 percent said it was important that brands have a physical location, rather than solely selling online. It’s a position held more strongly by younger generations than their older counterparts. Eighty percent of Gen Zers and 82 percent of Millennial respondents said it is important, compared to 69 percent of Gen Xers and 65 percent of Boomers.
iModerate says that physical locations have a significant role in the first-time buying experience, when brand perceptions are made and loyalty decided. iModerate CMO Adam Rossow says, “One of brick-and-mortar’s greatest advantages over other channels is that there’s an opportunity for shoppers to interact with products, and that gives them the confidence they need to make a purchase. Retailers can take even small steps to capitalize on these exploratory shopping habits, such as creating close-up experiences with new styles, providing samples and demos, and ensuring there are ample mirrors and fitting rooms.”
The study also revealed that each generation is looking to get something different from their store visits. Generation Z seeks the reassurance found through the sensorial, Millennials want efficiency and quality, Gen X is looking for an escape and discoveries, and Boomers seek comfort and space.
More information on the study findings can be found here.