The 2018 Retail Sector Report – entitled “The Convergence Continuum” and set to be published by I-AM – also raises doubts over the role of staff with many millennials wanting them to be more knowledgeable and confined to pay points.
The report found that the frequency with which millennials visit shops is still high as 80% of those surveyed went shopping as a day trip in the last month and 50% went on a shopping trip in the last week.
An overwhelming majority (74%) say they prefer physical stores, while only 26% preferring online shopping. The mobile channel plays an increasing role when it comes to in-store experiences with 51% saying that they would love to navigate, get information and pay using their phone in-store.
The report also found that most millennials would prefer staff to be just at the pay point. Almost half of those surveyed (46%) think staff hinder the shopping experience, but 48% of them still value help.
It also seems that millennials shoppers look for more than shopping when visiting a physical location. The research shows that 45% would revisit stores that offered workshops and tutorials, while 23% just want to shop
Young shoppers are also open to the idea of sharing data in exchange for better services and discounts. Almost 77% would agree to exchange data for discounts.
The survey was conducted among 2000 18 to 35 year-olds living in a number of UK cities.
I-AM, headquartered in Shoreditch, and with overseas offices in Istanbul, Dubai and Mumbai, has a portfolio of clients in many sectors including food and drink, banking, fashion, estate, telecom and tech, showrooms, education, transport and destinations – as well as retail.
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