In a word… Nope.
It has long been predicted that internet sales would kill brick and mortar retail establishments. After all – consumers are able to find whatever they want 24 hours a day, 7 days a week on the internet – right?
Well, to the surprise of many – 92% of retail sales are still occurring at your local retail establishment. And that seems unlikely to change.
How could that be??
New research reveals a number of reasons:
- 30.8% want to feel or see the item before purchasing
- 29.9% want instant gratification
- 16.9% are worried about security issues
- 14.4% want to save on shipping
- 6.5% expect easier returns
Can ecommerce overcome these consumer objections? Perhaps. But it won’t be easy. Two areas to consider – flexible pricing and varied (a.k.a. free) shipping options. As for seeing or feeling the item before buying it – there are apps in the works that will allow you to smell a product in London while sitting in your kitchen in Brooklyn. But we digress…