New research from Revo underlines power of omnichannel
Retailers see an average 12% increase in online sales in the catchment area after opening a new store, according to new research from Revo, which also found that 29% of online sales are reliant on physical stores. The report, titled Tomorrow’s World: Retail on the line, also reveals that 39% of returns purchased online are returned through store networks.
The data for the report was captured by CACI and GlobalData, on behalf of Revo. Surveys were conducted among 2000 UK shoppers and a cross-section of 50 major multichannel retailers that have had a presence in the UK for more than 10 years.
Other findings include:
- 75% of shoppers conduct research to inform a purchase, with in-store research (41%) being the most popular form
- 29% of all online purchases touches a store, whether by research or collecting in-store
- In total, physical stores contribute to 86% of comparison goods spend across the UK meaning just 14% of digital spend is pure online spend
- 60% of click and collect customers conduct a further purchase in stores / shopping centres
Revo president Mark Williams said: “The research clearly shows that, contrary to what some would have us believe, the physical store has not disappeared from the customer’s journey and in fact is very much alive and a fundamental part of the shopping experience – and will remain so.
“I think we all acknowledge however that its role has changed, and it is critical that industry stakeholders – retailers and property owners alike – continue to evolve and together take a proactive approach to meeting ever-changing consumer needs. Collectively as an industry we need to start thinking more like consumers; online and offline are not binary terms but fully intertwined, mutually dependent ways of shopping.”