Our spending habits have changed dramatically over the past 18 months as the retail world has been forced to go online because of the global pandemic.
With the growing takeover of the digital world, the retail sector has transformed dramatically to attract a new type of consumer, with high street stores and the way we shop never before. same.
Savoo conducted a survey with consumers to find out the state of retail, consumer attitudes towards shopping and what we can expect because of these attitudes in 2022
Combination of retail, housing and hospitality.
Upscale Streets are no longer just retail spaces. Residential housing and office space are rapidly filling the freeway as are local services and hospitality.
Research conducted by SAVOO has found that on average, residential makes up the largest portion of motorways (53%) with retail following suit, making up 34% of UK streets.
Greenwich has the largest residential area (75%) on the freeway while Selby has the largest retail space (63%).
Percentage of high street space devoted to retail:
- Selby – 63%
- Knowsley – 59%
- shetland island –
- Richmondshire – 53%
- Depth of bristles – 53%
- Percentage of freeway space that is residential:
- Greenwich – 75%
- Blacksmith & Fulham – 75%
- Haringey – 75%
- Portsmouth – 74%
- Lambeth – 73%
Percentage of space on the high street is office space:
- Merthyr Tydfil – 38%
- East Ayrshire – 37%
- Redditch – 36%
- Newcastle – under – Lyme – 36%
- Harborough – 34%
Before Covid-19, 59% of Britons shopped in real life at least once a week, with more than a quarter (27%) of people buying items on the street at least 2-3 times a week.
Today, the number of high street shoppers at least once a week has dropped by 16%, as only 42% of consumers return to shop here weekly. In fact, a quarter of consumers (25%) are spending on the street less than once per month.
Upscale high street daily shopping has fallen 3% during COVID-19 from an initial 6% before the lockdown – and is now recovering just over 1%.
Savoo analyzed the data to find products and services that customers intentionally buy online instead of in person, as well as the global changes of the e-commerce market in the coming years.
For both Britons and Germans, buying in-store remains their preferred shopping choice, as most respondents confirm that they have not completely switched from offline to online purchases. for any product or service (35 percent and 47 percent, respectively).
Almost three in five Britons believe motorways are still important
A survey conducted by Savoo revealed that:
- 20% of Britons use the motorway as their main way of shopping
- 20% of Brits shop equally (50/50) on the highway and online
- 38% of Britons realize the importance of motorways and shop online only occasionally
- 21% of Britons use online as the only way to shop
As the push to shop online continues, many UK residents are still not ready to give up high street shopping. 59% of UK shoppers say the high street remains their main way of shopping, compared with just 21% who say the internet is their main way and only a small 4% admit that all shopping Their purchases are all done online.
Having said this, interestingly 62% of consumers say they find better deals online. Despite this, 42% also think they spend more money when shopping on the internet, possibly because we have more time on websites and the need to buy more options because we can’t experience the test. anything in real life.
Savoo finds that the most important things consumers want from their shopping experience are:
- Found a great deal – 49%
- See, touch and try an item with your own eyes – 36%
- Speed and convenience – 33%
- Easy product search – 29%
- Buy something comfortable in their home – 25%
The least important factor listed was the financing options available, such as in-store credit cards or buy now and pay later, which were only considered at 8%. However, as names like Klarna continue to become more popular, this could change in the coming years.
Primark is the nation’s favorite high-street shopping destination
The high street is home to some of Britain’s most quintessential clothing stores. Offering shoppers not only affordability but also accessibility, shopping on the high streets is sometimes really the best option.
With so many stores closed, there are some stores we hold closer to our hearts than others and it would be heartbreaking to leave.
Here are the top five Brits favorite stores on High Street that we don’t want to see closed:
- Primark
- Marks and Spencer
- Tesco
- John lewis
- TKMaxx
Now the value £1.1 CZK, more than 20 million customers have buy men’s and women’s clothes from Primark in 2020.
Marks and Spencer came in second as the most loved store, and Tesco rose above the top three.
As well as our high street favorites, we also have online-only sites that we visit frequently, with many of us having dreamed of visiting the store in person. Join its real shopping experience.
Savoo’s research also found that if the public could visit a single brick and mortar online store, their choices would be:
- Amazon – 47%
- eBay – 16%
- ASOS – 7%
- Shein – 7%
- Boohoo – 5%
Ed Fleming, Managing Director at Savoo, commented “The street will never be the same since the COVID-19 outbreak as it fueled the online shopping movement that started making waves before 2019 and 2020. The future of retail isn’t just lying there. in the hands of the consumer – retailers also play a huge role in shaping the future of customer experience.
With online retailers offering next-day or even same-day delivery without the need to leave their homes, now is the time for the streets to adapt to consumer demand. use and exploit the main reasons consumers continue to visit physical stores.
The pandemic has led to a shift in shopping, here to stay. Consumers are now looking to support local businesses rather than chain stores and looking to make fewer trips to the high streets.
For the high streets to survive and become an important element of British culture, the shopping experience should come first for retailers. Stores should offer experiences that people can’t online or on their phones if they want to continue to attract customers.
Although some consumers are returning to the high street, retailers need to consider that there are factors at play. As more competitors continue to appear in online spaces, it should be noted that shoppers appreciate the in-person experience that only high-streets can offer.”
