retail stores are providing a full shopping experience for online only retailers such as Amazon
Minneapolis, MN (PRWEB) February 15, 2012
When checking out a product to purchase, nearly half of consumers who have shopped online within the past 6 months first checked out the product at their local retail store and then made the purchase online, often from a different source, according to a recent consumer perception study conducted by leading market research firm ClickIQ, Inc. Consumers were asked about their shopping experiences for the past 6 months, where they shopped and where they purchased, and 67% responded that they have shopped online as well as brick & mortar stores. When this group was asked if they have researched a product at the local retail store and then made the purchase online, 46% indicated that they have done so. Of this group, the leading retailers for in-store research were Walmart (WMT) at 41% and Target (TGT) at 25%. But what is telling is that regardless of which retail store the consumer researched on the product they eventually purchased, nearly half (48%) made their final purchase at Amazon (AMZN). Furthermore, with only 15% stating they later purchased the product at Walmart.com and 4% at Target.com, it is apparent that retail stores are providing a full shopping experience for online only retailers such as Amazon.
When asked the drivers behind their decision to make the purchase online, the dominate reason was price at 87%. Other factors influencing their decision to purchase online were no shipping/delivery charges and availability, both at 52%, variety of products at 30%, and no sales tax at just over 28%. Not only are consumers researching products at the retail stores, 44% are “very/extremely likely” to go online to compare products while still in the retail store. Not surprising, when these shoppers were asked what would encourage them to buy the product at the retail store rather than online, 87% said the store would have to offer the same or a lower price than online.
The underlying data suggest that retailers are providing a free showroom for online retailers and losing sales due to the online retailers’ ability to cut prices while offering a large assortment and availability of products.
Data was collected in an online survey from 911 of ClickIQ’s US consumer panel members from February 10, 2012 through February 13, 2012. Target respondents must have shopped both retail stores and online within the past 6 months. 418 were further qualified by stating they have researched a product in a brick & mortar store then later made the purchase online. The survey results have margin of error of +/-5% at a 95% confidence level.
ClickIQ, Inc., based in Minneapolis, Minnesota, is an award-winning market research firm that employs fully integrated online management tools, a proprietary consumer panel, and skilled market research analysts to deliver quantitative consumer and shopper insights to some of the best known and most respected companies across the U.S.