Stores will bounce back post Covid as online fatigue looms large
UK consumers are planning to spend big post-Covid-19 and they have three basic needs – a holiday, haircut and a day out, according to research by EY.
It surveyed over 1,000 people and found that anxiety remains around health and returning to non-essential retailers on 12th April, suggesting that the real spending boost will come later in the summer when larger numbers of consumers have been vaccinated.
Silvia Rindone, EY UK&I Retail Partner, comments: “Retailers need to be prepared. To ease anxiety around returning to store, they will need to focus on providing reassurance to customers and employees alike, making them feel protected and secure by maintaining a heightened focus on hygiene and sanitation.”
“As consumers look for a return to in-person engagement and the in-store shopping experience, retailers need to engage customers with store events and activities.”
“They simply can’t underestimate the power of the store and the consumer desire to re-engage with the social aspect of shopping.”
Online shopping niggles
EY’s research shows that the consumer appetite to return to stores is not being driven by increased freedoms alone.
It is partly fuelled by a growing frustration with online shopping and the fact that it does not offer the immediacy and control of physical stores.
While there has been a shift online as non-essential retailers have been forced to shut, and some behaviours have changed for good, tolerance of the challenges of e-commerce ordering has diminished.
What were niggles are now full-blown pain points. Half of consumers say that they are frustrated with expensive deliveries, 28% by slow deliveries and 25% by not being able to find what they are looking for easily.
This is particularly evident in the grocery sector where 49% of consumers say they do not shop online because they have less control over purchases, and just 11% believe grocery websites are better than physical stores.
Rindone comments: “Retailers must continue to improve their online offer, ensuring that all elements of the online experience satisfies increased customer expectations.”
“The balance of store and online will continue to be important for shoppers that research and buy across channels, although its importance varies according to category.”
“This means that making it easy for consumers to mix and match their research and buying across channels will be crucial.”
