Price Waterhouse Cooper Total Retail Survey Online Shopping Results 2015

PwC administered a global survey to understand and compare consumer shopping behaviors and the use of different retail channels across 19 territories. Key findings:

US Consumers Shopping Online

• 39% of US consumers surveyed make online purchases monthly
• Top 3 reasons why US shoppers buy online instead of in store: lower prices/better deals than in stores (52%), ability to shop 24/7 (47%), and no need to travel to a physical store (40%)
• Top 3 reasons shoppers choose their favorite online retailers: “The prices are good”, “They usually have the items I want in stock”, and “I trust the brand”
•  US consumers do their research before buying online: books/music/movies/video games 75%, toys 62%, electronics/computers 73%
• The ability to return purchased items online sways consumers to purchase from certain retailers. Most important to shoppers were paid return labels provided with shipment (86%), online purchase returns available in-store (76%), can return purchase to a convenient location (61%)
•  Even with free shipping, consumers are willing to pay for same day (61%) and 1-2 day delivery (58%)

Source: PwC.com

How Important will Targeted Collaboration and Technology be to Retail in 2015?

In a report released by Price Waterhouse Coopers, it provided an overview of what will challenge retailers in 2015. The reports focuses on what retailers and suppliers must do to satisfy the needs of their customers in order to be successful and profitable in an ever-changing, customer-centric environment.

Targeted Collaboration between retailers and suppliers is listed as a key component for success. To achieve better alignment of goals and drive greater efficiency, retailers and suppliers need to become trading partners, sharing details and processes on product launches, trade promotions, inventory management and supply chain operations.

Technology greatly contributes to improved operational efficiency, and there will be a need to effectively manage the business through business intelligence. Customer demand-based management can only succeed with real-time POS sales, inventory and consumer data information. Retailing will become more personal and customer data and relationships will become a key asset for retailers.

Source: Price Waterhouse Coopers