Close to 80% of international consumers still visit a physical store to buy a product, reflecting the importance of seeing and feeling an item, a new survey by CBRE has found.
Close to 80% of international consumers still visit a physical store to buy a product, reflecting the importance of seeing and feeling an item, a new survey by CBRE has found.
The study polled 32,000 consumers across 32 countries to understand the consumer shopping journey and the channels available and most frequently used.
Some 75% of consumers globally look for specific items online, often interacting with retailers and other consumers to research and purchase products, the survey found. An increasing number, 42%, use social networking sites for product feedback.
The study further found that 30% of global consumers use their mobile phones to compare prices and product details, particularly Asia Pacific consumers. In addition, 49% of consumers in China use a smartphone to purchase products. Consumers also buy online and collect products in-store on average every three weeks, often making other purchases in the process.
Andrew Phipps, head of EMEA retail research and consulting at CBRE, said: “The role of the physical store is in many ways more important than ever, it is the essence of the retail brand and should be viewed as the most important element of the overall proposition. Technology and online should be used to get the retail offer to as broad a customer profile as possible but should not be allowed or viewed as a way to change the overall proposition.’
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