New research from Divido highlights a huge disconnect between UK retailers and consumers.
Its study of 201 retailers (who post over £5 million in revenue) follows recent research of 2,000 Brits. 89% of the former believe that social media is an influential platform for their audiences when it comes to making high-value (£250+) purchasing decisions. Yet only 6% of Brits said social media influences them, admitting they are swayed more by advice from family and friends (69%), their loyalty to a brand (67%) and payment options available (60%).
Pureplays and Brexit
77% of retailers said the Government needs to do more to create a level playing field between High Street stores and online retailers. At the same time, 51% stated they see no difference between their online and/offline strategies, while 68% are already re-evaluating their bricks and mortar strategy, in a bid to evolve their proposition.
Alongside this, Brexit remains a concern with 61% of retailers saying that the UK's departure from the EU will disrupt their business and 65% claiming it will lead them to re-evaluate their position in the UK.