Contrary to popular belief, more people are shopping in-store than online. So, how is digital technology influencing purchasing decisions?
New research from Deloitte Digital says people who "showroom," or use their smart phone while shopping in store, are more likely to make a purchase at brick and mortar stores, than online. In fact, according to the data, digital interactions influence 36 cents of every dollar spent in retail stores- that's $1.1 trillion.
The research also points out people who "showroom" are 40% more likely to purchase in store. And 84% of those digital shoppers, use a device before or during store visits.
Analysts at Deloitte say this can be good news for retailers, but not enough of them are familiar with the data.
"Most retailers don't know when somebody has researched online via their mobile device in the store but then transacted in the store," said Kasey Lobaugh, the Chief Retail Innovation Officer at Deloitte Digital.
"If you look at how smartphones are influencing in-store sales, you discover there's about $593 billion of sales happening in the store that are influenced by mobile," said Lobaugh. "Meanwhile, people who transact on the device itself, is only $40 billion."
While the research can prove valuable to retailers, Deloitte released one surprising factor that was negative for in-store experiences. When asked if they would rather ask an associate for help or look up the information on a smart phone, most consumers chose smart phone.
Deloitte says in the future, retailers should find a way to converge digital with physical experiences, instead of treating the two as separate entities.
To view the full research, click here.