Adyen research shows Millennials leading return to high streets

Millennials are more likely to shop at physical stores following the reopening of non-essential retail in England on 12th April, according to research by Adyen.

The PayTech big hitter surveyed 1,682 English consumers.

35% said they visited a non-essential retail outlet in the first week since stores re-opened. 18–34-year-olds were 11% more likely to do so than older people.

Following an easing of #coronavirus restrictions on #retail and some hospitality, Brits have been returning to physical #retailers. But it is unlikely we will see a return to pre-pandemic levels of footfall anytime soon, according to @the_brc @Sensormatic https://t.co/YdUdqFEb0s
— Retail Technology Innovation Hub (@RTIH_RetailTech) May 7, 2021

34% of Millennials missed non-essential in-store retail while it was closed (same as the national average).

While the pandemic accelerated a shift to e-commerce out of necessity, the research also shows that 54% of Brits prefer to shop in physical stores, up from 50% in a similar study conducted by Adyen in June 2020.

68% of Brits, meanwhile, will not shop with organisations if they had a bad experience either online or in store (an increase of 18% since June 2020).

And 53% believe retailers need to do more to link their physical and online stores.

Retailers have used the time in lockdown to make changes to enhance the customer experience, which has not gone unnoticed by Brits.

24% of respondents saw retailers create links between physical and online stores, 22% noticed efforts to improve the in-store shopping experience, and 21% appreciated retailers using technology to reduce physical touchpoints.

Myles Dawson, UK Managing Director at Adyen comments: “There is a case of absence making the heart grow fonder when it comes to physical retail.”

“Experience is the key to realising this new opportunity. If the physical retail experience doesn’t add anything that consumers can’t get online, they will just shop where it is more convenient.”

“But if a physical store offers something different, that excites the senses or creates engagement, they can be incredibly successful. The key is giving the consumer choice.”

“Choice to engage in a physical store, to opt for the convenience of online, or have the ability to do both seamlessly. Retailers that can adapt to these consumer demands will be best placed to thrive beyond the pandemic and will help reinvigorate our high streets.”