Indix (www.indix.com), a cloud catalog company that provides structured product information via Data-as-a-Service, has released a new data report titled, “A Look Into Consumer Shopping Behavior.” This study on the trends taking place both online and in-store provides brands and retailers insights into how factors like price, discovery, and availability influence whether or not a purchase is made.
The independent survey was conducted in partnership with Research Now, a digital data collection company and market research firm. The report examined several aspects of consumer shopping behavior, of which the following key findings were identified:
° Women prefer to purchase products in store (43% vs. 36%), whereas men prefer to shop online (31% vs. 24 %).
° Women are less likely to purchase products online if shipping and handling is expensive, and men are less likely to purchase products online if they aren’t able to make comparisons between products.
° 34% of respondents ages 18-34 still purchase goods in store once a week.
° 62% of Millennials are concerned with mobile app payment security, whereas only 40% of those ages 55 and older are concerned. At the same time, 55% of women worry about mobile payment security versus 44% of men.
° Millennials are more likely to shop from a preferred store than any other generation.
PayPal is the most popular payment method for online purchases, and the Starbucks app is the popular mobile payment method against other options such as Google Pay, Apple Pay and Venmo.
“Purchases at brick and mortar stores are at an all time low, and at the same time, consumers are using their mobile devices to make purchases more frequently than ever before. Yet, retailers and brands still struggle to provide their customers with a seamless shopping experience that bridges both physical and online stores,” said Sanjay Parthasarathy, CEO and founder, Indix. “We conducted this survey to not only better understand the shopping preferences of different generations, but to gain insight into how we may be able to better help our customers deliver the right product offer to the right person, at the right time, and through the right channel.”