Three key takeaways from the event:
- Online grocery shopping is growing, but brick & mortar stores aren’t dead: Data from GfK’s 2017 FutureBuy study showed that while 1 in 4 grocery shoppers are purchasing online, still more than 95% of them are buying groceries, health & beauty, and OTC pharmaceutical products in brick & mortar stores. NPD Group showed that still 3/4ths of retail dollars are spent in physical stores.
- Shoppers appreciate the value of online, but still prefer the “touch & feel” of shopping in-store: Not quite half of shoppers appreciate the “touch & feel” of buying products in-stores, according to GfK. And that benefits retailers with large physical footprints. InfoScout data from a KraftHeinz case study shows that the proximity of Walmart encourages a stop at the local store. But shoppers also recognize the value and money-saving benefits of shopping online. Whether it’s convenience, selection, or comparing prices, online shopping is now offering the benefits that large retailers used to own. However, delivery fees remain a hurdle for some online shoppers, and physical retailers are exploiting that resistance with expanded “click & collect” offerings.
- Data remains key to making that critical connection to the shopper: Great data and great insight are still key to connecting with and inspiring shoppers to act. Our expert panel from Coca-Cola, KraftHeinz, and InfoScout reiterated that whether it’s digital or brick & mortar shopping, having the right data to understand the why behind the buy helps them meet shopper needs in all channels. And as presenters from IRI and 84.51º demonstrated, great data helps customize the retail message across all media, and allows retailers to personalize pricing strategies to maximize sales.