Retailers must act now to engage with digital natives if they are to create the retail theatres connecting the online and offline experience that an emerging generation of shoppers want to use, says Samsung Electronics in a new report.
The technology company’s Future Shoppers report shows that while 71% of 16 to 24-year-old shoppers finds themselves in large retail environments at least once a fortnight, two thirds looking for a specific item, many opt to make their final purchase online. Some 74% said they like to see an item for themselves before buying, but usually end up buying it online. Increasingly, they use a mobile phone to make that purchase, with 44% using that phone to look for a better price online while they are in store.
The report was launched as Samsung, together with 02, opened a pop-up Futurescape shop showcasing their vision of the future of retail in Westfield Shopping Centre.
“Young adults may be socialising in retail environments, but, by and large, when it comes to spending on products they are shopping alone and seeking the most convenient way to complete their purchase,” said Graham Long, vice president of Samsung’s Enterprise Business. “We’re seeing the emergence of a generation of sophisticated shoppers, with considerable disposable income, who have high expectations about what they expect from the high street and other retail environments.”
Samsung argues that it’s important to act now to talk to shoppers of this age because they in a defining period that will govern how they behave – and shop – in the future.
Two-thirds of the 1,001 16 to 24-year-olds questioned for the report, said retailers could do more to keep them interested in products when they’re already in store, while 68% said they expected retailers to try something new to make the retail space more appealing to them.
“While we know that the high street has been losing ground to online shopping, young adults demonstrably enjoy shopping in the real world and are eager to engage with retailers that cater to their needs,” said Long. “Vendors who create exciting in-store environments, where shoppers can experience and interact with their products, could protect themselves from losing a customer to an online seller offering something as simple as a slight discount.”
