snapshot: the state of retail: online, offline, mobile
DESCRIPTION
In 2014, the market value of online retail almost equaled offline retail. Retail today is not what it was a decade ago. Smartphones have become more commonplace and online retail has made shopping easy and convenient. It is not uncommon to hear stories about brick-and-mortar stores closing and offline retailers going out of business. If a traditional retailer doesn’t adapt to this changing environment, they may find themselves struggling to keep up with competitors. To market to and capture a more tech-savvy generation of consumers, retailers have an opportunity to create smarter stores and shopping experiences. We’ve created an infographic with statistics on the current state of retail and we hope that it will help you make smarter business decisions. Enjoy!TRANSCRIPT
EVEN THOUGH 91% OF SALES STILL OCCURRED OFFLINE...
84%
82%
25%
65%
65%
53%
90%
Use a smart device to shop
Use search engines to find product information
Spent more as “frequent mobile shoppers”
Prefer mobile sites over store apps
Prefer learning about products from their smartphone rather than asking a sales associate
Use smart devices to make price comparisons before they arrive at a store
Use their phone for pre-shopping activities
POPULARONLINEPURCHASES
RETAIL INDUSTRY MARKET VALUE
79%smartphoneowners are
‘smartphone shoppers ’
Use mobile device to assist in shopping once a week to research products
17%
62% Use a smartphone to assist with shopping once a month or more
$279B
OFFLINE,TRADITIONAL
RETAIL
$265B
ONLINERETAIL IS
CATCHING UP
2013
The retail industry increasingly includes technology in every part of the shopping experience. Here are some statistics to help your offline or online business adapt to this changing environment, keep up with your competitors, and market to a more tech-savvy generation of consumers.
Media, electronics and appliances, furniture and home furnishings, and clothing
Food/groceries, luxury goods, consumer packaged goods, health & personal care
POPULAR OFFLINE PURCHASES
69%
electronics
67%
books
63%
clothings
2013
2014
2013 U.S. online purchasing surpassed
offline growth 6x over
85% 67%
77% 70%
Read online reviews for local businesses
before making a purchase
Were willing to share location info with a
favorite retailer, search engine, or app, as long as they receive value
in return
Received shopping-related alerts on
their smartphones in the past six months
Mobile searches lead to action on a
website within just one hour of when the search was initially conducted
BUY
81%Read/open them most of the time
Have consequently made a purchase (at least once) 79%
©2014 Logic Solutions, Inc. www.logicsolutions.com @LogicSolutions
sourcesbusinessinsider.com
retailsfuture.comretailprophet.com
intelligence.businessinsider.cominternetretailer.com
thinkwithgoogle.com
STATE OF RETAIL:MADE IN ANN ARBOR. MI by LOGIC SOLUTIONS, INC
ONLINE, OFFLINE, MOBILE