Online shopping is nothing new and has become a part of life for most of modern society. Online shopping experienced significant growth, especially in the past few years, particularly due to the global pandemic. As we continue to move forward, consumers and business owners alike wonder what we can expect for the future of retail. Here we will review current trends, future expectations and how online and in-store shopping will integrate to set the stage for the next era of consumerism.
In-store shopping remains a constant for most consumers. Even though online-shopping trends have continued to grow over the past decade, over half of shoppers indicate that they prefer to shop in-store. Although close to 80% of shopping is still done in a brick-and-mortar store, over half of the shopping journey begins online, with more and more consumers initially researching the products they purchase.
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The convenience of online shopping is one of the main reasons so many gravitate towards this option. Online shopping can also provide purchasers with a more extensive selection of products to choose from. Additionally, shopping online allows shoppers to quickly navigate multiple stores to search for the best pricing on the item they are looking for. About 75% of consumers reported shopping online at least once a month.
In-Store Shopping VS Online Shopping Trends
According to Zippia, here are some of the current statistics of online shopping versus in-store shopping trends:
- Nearly 40% of shoppers make an in-store purchase at least once a week. In comparison, only 27% of consumers purchase online at least once a week.
- 60% of consumers said they favor shopping in person because it lets them have their items immediately.
- 61% of consumers said they prefer in-store shopping because they want to see or try on the items they buy.
- Close to 82% of U.S. shoppers prefer buying groceries in-store rather than online.
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With this insight, it is interesting to consider that only about 22% of shopping is expected to be completed online in 2023. Therefore, although most consumers are consistently shopping online, most sales still occur within a storefront. Both online and in-person shopping will have a time and place for each consumer, and the two shopping methods will integrate as equal parts of the shopping experience.
The future of online and in-store shopping will continue to change. The best approach for businesses to succeed is to stay aware of trends, new technologies and adapt wherever possible to improve the consumer experience.
Retail Tech carries a wide variety of new and refurbished POS equipment. We offer installation and staging, POS printer repairs, and more. If you need help choosing a POS system, contact our POS systems specialists for help finding the perfect point of sale solution for your small business.