Online shopping has been at the forefront of retail for many years. However in-store purchases were still holding strong as shoppers flocked to stores to grab the latest arrivals. However according to recent figures, shoppers now prefer shopping online to in-store – rebuffing the long-standing idea that consumers prefer to see and touch a product before making a purchase. With this in mind, Pallet Truck Shop, one of the country’s biggest providers of pallet trucks and other manual handling equipment to a plethora of sectors, is urging retailers to take action now in order to futureproof their business.
According to a study by Bigcommerce and Kelton Global, it is Millennials who are spearheading this change, but are being supported significantly by older generations. Spending at least half of their entire shopping budget online, the report shows that 67 per cent of Millennials prefer to search and purchase on e-commerce sites rather than in-store, while 56 per cent of Generation X, 41 per cent of Baby Boomers and 28 per cent of seniors prefer online to offline shopping.
Phil Chesworth from Pallet Truck Shop said, “There’s no denying that times are changing, however as much as online shopping has firmly cemented itself as a force to be reckoned with, retailers have always considered physical shopping as the go-to option. But due to both the ease and speed – not to mention the competitive prices offered online – the retail sector is facing a significant shift.”
The reports also highlighted a reason for this change. According to the shoppers questioned in the survey, they felt that visiting a store is ‘let-down’ – even if they like the brand online. Potentially due to the fact that the personal touch is missing – such as recommendations based on your individual preferences, visiting a store is now seen as a chore.
Phil continues, “If this trend continues, and retailers are finding that their online sales are overtaking their in-store sales, then they must act sooner rather than later to ensure they are able to compete in the competitive marketplace. And investing in quality equipment to cope with demand is the number one recommendation to enable them to futureproof their business and remain competitive during these changing times.”