LAS VEGAS--(BUSINESS WIRE)--Shoptalk -- Both men and women are spending significantly more in-store than online during a typical shopping visit according to a new report, by First Insight, Inc., a global technology company transforming how leading retailers make product investment, pricing and marketing decisions. The company, which recently surveyed consumers on shopping habits, purchase behavior and influences driving decisions, found that 71 percent of respondents (72 percent of men; 70 percent of women) typically spend more than $50 when shopping in-store. In contrast, only 54 percent of respondents (59 percent of men; 49 percent of women) are spending more than $50 when shopping online.
Of note, 34 percent of respondents (36 percent of men; 33 percent of women) reported spending more than $100 during a typical in-store shopping visit, compared to only 21 percent (26 percent of men; 17 percent of women) who reported spending more than $100 when shopping online.
This trend continued when evaluating the likelihood of a shopper adding extra items to their carts. When shopping in-store, 78 percent of men and 89 percent of women reporting that they sometimes or always add additional items to their cart. By comparison, a lower 67 percent of men and 77 percent of women reported adding extra items to their carts when shopping online.
“Even as online sales grow, this research shows that retailers must work to strike the right balance with consumers who are shopping differently online than they are in-store,” said Greg Petro, CEO of First Insight. “The fact that consumers are less likely to add items to a cart when shopping online implies that online recommendations are not as effective as they should be. Retailers need to be sure to offer the products consumers need and want at the right price points no matter where they are shopping, and must continue to work to drive traffic in-store where consumers are willing to spend more.”
The results were announced during Shoptalk in Las Vegas today. Download the report and accompanying infographic to see all the key findings from the study here.
Other significant findings of the survey include:
More Consumers Only Go In-Store When They Need Something
According
to the survey, 73 percent of men and 69 percent of women respondents
said that they only shop in-store when they have a need for something.
Far fewer of both groups (64 percent of men and 56 percent of women)
said the same about online shopping. The data points to the fact that
retailers and brands, to be most effective and capture greater sales,
need to place greater priority on the overall shopping experience. To
attract consumers into the store beyond buying necessities, retailers
must focus on in-store pricing, incentives and having the right items
available in-store.
More Men Say In-Store Technology Enhances the Shopping Experience
than Women
According to the report, men and women have begun to
diverge slightly in their usage and enjoyment of in-store technology,
with men using magic mirrors, interactive windows, smart fitting rooms,
virtual technology and beacons more often in-store than women (between
40-47 percent versus 33-40 percent). Further, more men felt in-store
technology enhanced their shopping experience across every technology:
- Magic Mirrors: Twenty-five percent of men versus 20 percent of women
- Interactive Windows: Twenty-five percent of men versus 19 percent of women
- Smart Fitting Rooms: Twenty-three percent of men versus 21 percent of women
- Virtual Reality: Twenty-two percent of men versus 19 percent of women
- Beacons: Twenty-four percent of men versus 18 percent of women.
Men More Likely to Buy Clothes In-Store than Online, But Both Men and
Women Purchase Technology Online
Clothing is a top category for
both online and in-store purchases for both men and women. However, more
men are shopping in-store for clothing than online. While an equal share
of women purchase clothing online and in-store (73 percent), 66 percent
of men say they make their clothing purchases in-store, versus 59
percent online.
By comparison, the survey showed that both men and women prefer to purchase technology items and gadgets online. Fifty-two percent of men and 43 percent of women purchase technology items online, versus 36 percent and 34 percent, respectively, who buy these items in-store.
Methodology
First Insight’s findings are based on the
results of a consumer survey of a targeted sample of more than 1,000
respondents and was fielded in February of 2019. The survey was
completed through proprietary sample sources amongst panels who
participate in online surveys.
About First Insight, Inc.
First
Insight is the world’s leading customer-centric merchandising platform
that empowers retailers and brands to incorporate the Voice of the
Customer into the design, pricing, planning, and marketing of new
products. Through the use of online consumer engagement, the First
Insight solution gathers real-time consumer data and applies predictive
analytic models to create actionable insights, which drive measurable
value. Retailers, manufacturers and brands use the First Insight
solution to design, select, price, plan and market the most profitable
new products for reduced markdown rates and improved sales, margins and
inventory turnover. Customers include some of world’s leading vertically
integrated brands, sporting goods companies, department stores, mass
merchant retailers and wholesalers. For further information, please
visit www.firstinsight.com.