In a document, released by Price Waterhouse Coopers, millennial shoppers are helping shape the future of retail, while Chinese consumers are way ahead of North Americans in using mobile phones for online shopping.
The professional services giant undertook a survey in 25 countries and territories with nearly 23,000 online shoppers to explore the global consumer shopping experience. Their report promises “nothing short of a revolution” and their eight primary insights are very interesting.
Here are IHR’s picks for the information from the PWC Total Retail 2016 Global Report we think are most helpful to our health retailers:
- Price is still king. Consumers in most countries will buy from out-of-country online retailers for a lower price.
- The mobile phone is increasingly being used for purchases, researching products and competitive pricing. China leads in purchases over mobile phones at 69 per cent compared to just 22 per cent of North Americans.
- Consumers believe what would improve their store experience the most is more knowledgeable sales associates.
- Millennial shoppers like to feel part of a community, so loyalty-based membership discounts or perks are what they’re looking for.
- Social media still has a large influence on consumers’ buying decisions by providing consumers with reviews, comments and interactive feedback before they buy.
So, all you have to do is have your newly educated staff hold an event tied to social media and give discounts only to loyalty shoppers they access by wireless app on their smart phones upon entering your store, or through traditional online store purchase.
If you do, please let IHR know if this helped you increase customers or sales in your store. We’d also like to hear how any online, mobile or social media marketing idea or event worked for you.
