By Jonathan Baker Is the in-store shopping experience still “in” for the remainder of 2024 and beyond? Some reports noted a decline in this year’s Black Friday sales. On the other hand, differing surveys and studies show a growing preference among consumers who like venturing out of their homes and make the journey to their favorite stores. In-Store Shopping for Black Friday, 2024 As reported in Forbes, Black Friday online sales increased 10 percent. Conversely, in-store traffic sales decreased by 8 percent. This downward trend is based on a combination of consumer caution as well as Black Friday promotions that took either place earlier in the year or went beyond Friday. As Grant Gustafon of Sensormatic Solutions stated: Some of the weeklong Black Friday extended promotions have really led to a little bit of a softer day of traffic than anticipated. Could the Black Friday sales—with “extended promotions” noted above—for certain brick-and-mortar locations made them victims of their own success? Consider a shopping trend from two months ago… Eye-Opening Trends of October Taking a cue from Amazon’s “Prime Day,” several well-known big box retailers set up their own sale events in October and profited nicely. The “Walmart Holiday Deals” from that store’s sale was especially successful, having engaged 33 percent of shoppers. Significantly, Walmart provided customers the option of shopping not only online, but at its brick-and-mortar stores. So, shopping trips consumers might have taken to Walmart took place in October. Despite the decrease noted by Forbes, in-store shopping is not going away. Many consumers genuinely like visiting and shopping at brick-and-mortar locations for a variety of strong reasons. The Psychology Behind In-Store Shopping As quoted in e-Marketer by Ethan Chernofsky, Senior Vice President of Marketing at Placer.ai, a software company based in Israel: “The physical store… produces an experience in a better way than [what] you can get online.” The choice consumers have for touching, testing, and interacting with items they are considering purchasing—as well having access to immediate help from sales personnel—are examples of the “better way” provided by in-store shopping. And these only scratch the surface of the benefits of brick-and-mortar stores. The Freedom of Visiting Brick-and-Mortar Stores Ironically, since so many people already spend so much time browsing and purchasing from the Internet, the option to visit an actual store brings a fresh feeling to shopping. Additionally, the restrictions of having been cooped up during the COVID-19 pandemic may also motivate consumers to get out. Consider this finding from e-Marketer: This past September (post-COVID), the number of visits to retail stores increased by 10 percent when compared the same time in 2019 (pre-COVID). The percentage may be small, but it is important to note that in-store shopping is increasing—not decreasing. And while on the topic of the pandemic… The Near-Perfect Shopping Partnership A shopping trend developed during the COVID-19 pandemic which continues to gain momentum today. This trend is the partnering of online stores with their matching brick-and-mortar locations. By promoting the “buy-online-pick-up-in-store” (BOPIS) option—where consumers order items over the Internet and then travel to a physical space to make the purchase—is a “best of both worlds” shopping scenario. Indeed, sales generated by this option are expected to reach $150 million by next year, according to SalesForce. So, brick-and-mortar stores are as strong as the structures that house them—not to mention the marketing strategies to keep existing customers and attract new ones. The EGC Group can help boost interest and enthusiasm for what your store has to offer, be it a physical structure, online—or both. Reach out to us to learn more.
