High Street Sales Rise Despite Department Store Slump, Millennials Want Better In-Store Experience
Despite a 6.7% year-on-year growth and a 1.1% monthly rise in high street sales in March 2019, department stores saw a 0.3% sales decline, highlighting the challenges faced by traditional retailers like Macy's and Target. With 18% of UK purchases made online each month, retailers must adapt to cater to modern consumer preferences.
Foolproof, a retail experience design agency, discovered that the younger 'digital generation' actually prefers shopping in physical stores. However, they have specific grievances that retailers must address. A staggering 57% of 25-34 year olds dislike crowds and queuing, while 40% are put off by carrying shopping around, and 36% by traveling and parking.
To improve the in-store experience, retailers should eliminate queuing for checkouts and offer easy home delivery. Providing more in-store inspiration and guidance can also enhance the shopping journey. Retailers should emphasize the unique aspects of in-store shopping, such as social outings and the ability to see and feel products, which millennials appreciate. Stimulant, another European retail experience design agency, confirmed this trend in their 2023 report.
Retailers must consider the entire retail experience, from the moment a customer has a need to the moment they own the product at home. By addressing customer grievances and emphasizing the unique aspects of in-store shopping, retailers can compete with the convenience of online shopping and drive growth in the high street.
