Shoppers go back to stores, but retailers face challenges
- 3 years ago
Shoppers go back to stores, but retailers face challenges
Americans are going back to one of their favorite pastimes: store shopping.
With more people getting vaccinated and dropping their face masks, retailers from Walmart to Macy’s are seeing an eager return to their stores after more than a year of their customers migrating online during the pandemic.
The return to store shopping, highlighted in many retailers’ earnings reports in recent days, offers a big relief in part because fewer shoppers ask for their money back after making a purchase at the store — 8% compared with 25% for online, according to Forrester Research. And store customers tend to do more impulse buying. For clothing, for instance, 25% of purchases are done on a whim versus 16% online, says market research firm NPD Group Inc.
Still, retailers — particularly mall-based stores and other specialty stores that were struggling even before the pandemic — face plenty of challenges to keep customers coming back. They face stepped up competition online and from discounters that thrived in the last year. Experts also say that post-pandemic shoppers will be even more demanding: After being forced to stay close to home, they’re looking for better and convenient services and experiences.
PHOTOS BY AP
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Americans are going back to one of their favorite pastimes: store shopping.
With more people getting vaccinated and dropping their face masks, retailers from Walmart to Macy’s are seeing an eager return to their stores after more than a year of their customers migrating online during the pandemic.
The return to store shopping, highlighted in many retailers’ earnings reports in recent days, offers a big relief in part because fewer shoppers ask for their money back after making a purchase at the store — 8% compared with 25% for online, according to Forrester Research. And store customers tend to do more impulse buying. For clothing, for instance, 25% of purchases are done on a whim versus 16% online, says market research firm NPD Group Inc.
Still, retailers — particularly mall-based stores and other specialty stores that were struggling even before the pandemic — face plenty of challenges to keep customers coming back. They face stepped up competition online and from discounters that thrived in the last year. Experts also say that post-pandemic shoppers will be even more demanding: After being forced to stay close to home, they’re looking for better and convenient services and experiences.
PHOTOS BY AP
Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at https://www.manilatimes.net
Follow us:
Facebook - https://tmt.ph/facebook
Instagram - https://tmt.ph/instagram
Twitter - https://tmt.ph/twitter
DailyMotion - https://tmt.ph/dailymotion
Subscribe to our Digital Edition - https://tmt.ph/digital
Check out our Podcasts:
Spotify - https://tmt.ph/spotify
Apple Podcasts - https://tmt.ph/applepodcasts
Amazon Music - https://tmt.ph/amazonmusic
Deezer: https://tmt.ph/deezer
Stitcher: https://tmt.ph/stitcher
Tune In: https://tmt.ph/tunein
Soundcloud: https://tmt.ph/soundcloud
#TheManilaTimes