Surprising findings about retail consumption
The Harvard Business Review recently published an article about retail consumption. The research covered by the article signals that the way people shop actually hasn’t changed much in the digital age (“5 Surprising Findings About How People Actually Buy Clothes and Shoes”). Shoppers still prefer to buy clothing in person, and when they do, it’s usually to replace the staples in their wardrobes, not to purchase cheap new trends that are bound to fall apart after a few washes. Repeat purchases were made during 83% of shopping excursions (87% for sportswear). The study described in the article also challenged perceptions about online shopping versus brick-and-mortar consumption. US retail is hurting but not because Americans have abandoned brick-and-mortar for online merchants. The key problem is the glut of stores in the US. The US has 40% more shopping space per capita than Canada, five times more than the UK, and 10 times more than Germany. If you haven’t read it yet, we strongly recommend the article.