Studies arrived on retailers’ omnichannel concerns, kids influence on BTS purchases, Gen-Z’s and millennials mobile phone purchases, Gen-Z’s non-digital interests, expanding retail app usage and more.

Oracle Study Reveals Global Retailer Anxiety Towards Omnichannel Capabilities

Oracle Retail’s 2018 Retail Mobility Insights report revealed that 60 percent of respondents believe that their organization will likely face disruption from more innovative, nimble and customer-centric organizations. While retailers believe their company embraces digital and mobile technology, 60 percent of respondents recognize that they are not investing quickly enough to keep pace with the speed of technology change and consumer expectations. The trends identified in the report highlight that retailers have been slow to realize mobile’s potential and question their logistical capabilities in the countdown to the busiest sales cycle of the year.

Kids Influence Back-to-School Purchases

According to the GfK MRI American Kids Study, virtually all (94 percent) children ages 6 to 11 say they influence the back-to-school items or clothes their parents buy for them. Over six in ten (61 percent) girls ages 10 to 11 say they have “a lot” of purchase influence, compared to 44 percent of girls in the 6-to-9 age group. Boys seem to feel they have less shopping clout, with only half (50 percent) of those 10 to 11–and 37 percent of those ages 6 to 9–reporting they have “a lot” of effect on back-to-school supply or clothing purchases.

Gen-Z And Millennials Prefer Buying on Mobile Phones

A survey from ViSenze found more than 60 percent of Gen-Z and Millennials are most likely to complete transactions on their mobile devices with nearly 80 percent discovering products via mobile while on the go. Sixty-two percent want visual search capabilities, and 58 percent indicated they are open to interacting with shoppable content online and on social.

In-Store Shopping Remains Top Choice for Apparel and Shoes

When shopping for apparel, shoes and accessories, 96 percent of value-seeking consumers currently shop in-store, according to the 2018 Purse String Survey from Valassis. Of those, 77 percent plan to shop in-store just as much in the next year, and 15 percent plan to do so more. The top reasons cited for shopping at a physical store instead of online include being able to see or touch an item in person (70 percent), the immediate need for an item (66 percent) and ability to use more coupons and offers in-store vs. online (65 percent).

Gaps Found Between Customer Expectations and Experience

A national survey from Square Root of more than 300 U.S. retailers found 96 percent of retailers say customer experience is a core priority, and 75 percent believe their organization has room for improvement. What’s more, despite 89 percent of retailers believing long-term success hinges on customer experience, nearly 40 percent still lack ways to measure the impact of their efforts. Seventy-eight percent cite keeping up with the speed of change and customer expectations as one of the biggest challenges they face.

Retail App Usage Sees an Uptick

Synchrony’s 2018 Digital Study revealed that consumers are using double the number of retail mobile apps versus a year ago (four versus two), and their purchase activity through these apps has increased. Eighty-three percent of consumers said they are happy with the experience of their retail app. A complementary survey found 47 percent said they have placed a significant focus on retailer apps.

Gen Z Far from Digital-Only

A survey of 22,723 college students, primarily ages 17–23, in the U.S., U.K., Australia and New Zealand from UNiDAYS and Ad Age Studio 30 found a full 77 percent of respondents prefer reading printed books, debunking the assumption that Gen Z is mobile-only, digital-only, virtual reality-only. The survey also found that while 61 percent of respondents have fully switched to streaming services, 28 percent still subscribe to cable, and 32 percent watch streaming services on an old-fashioned TV. A full 93 percent of respondents own a laptop, and only 44 percent own a tablet. A majority (59 percent) don’t trust Facebook with their personal data, and 78 percent let some apps, but not all, know their geo-location.

Photo courtesy Oracle