24 Latest Strange Facts/Stats About Retail Business Industry!

Hi there, are you into the Retail Industry? E-Commerce? Entrepreneur? Online Marketer?

I hope the below stats/facts about the Retail Industry might help you and will also be an eye-opener that might provide valuable insights useful in your Business. I also suggest considering these as your educational purpose only:

  1. Today, nearly one in 10 purchases occurs on emerging digital purchase points -- channels completely separate from retailers' and brands' owned properties.

  2. Eighty-one percent of shoppers still discover and evaluate new products in-store.

  3. 57% of shoppers tend to shop with a specific brand in mind.

  4. Shoppers say sales or promotion codes are the number one factor influencing their holiday purchases.

  5. Online marketplaces such as Amazon, eBay, and Alibaba represent almost half (47%) of online shopping

  6. Eighty-six percent of shoppers buy from retailers, brands, and online marketplaces.

  7. Shoppers are 2.4x more likely to make a first-time purchase at a physical store than they are online.

  8. Only 30% of consumers think they're spending more time shopping now than they did a year ago, perhaps due to more frictionless experiences like mobile or one-touch payments.

  9. 47% of consumers using voice assistants have ordered an item with them.

  10. 75% of repeat purchases are made online.

  11. Customers use an average of 8 channels communicate with companies.

  12. 83% of consumers say the experience a company provides is as important as its products.

  13. Nearly eight in 10 consumers are more likely to buy from brands with a loyalty program.

  14. More than half of shoppers are drawn to brands and retailers that offer limited-edition or customized products (54%) or exclusive shopping events (51%).

  15. Sixty-one percent of Gen Z consumers are more likely to buy from brands and retailers that offer exclusive shopping events.

  16. 69% of shoppers expect companies to understand their needs and expectations, but 56% view companies as generally impersonal.

  17. Nine percent of online purchases take place on emerging digital channels like voice and social media.

  18. Gen Z is 14x more likely to use influencers to discover and evaluate new products.

  19. 88% of retail and consumer goods marketers say personalization has improved their overall marketing program.

  20. 49% of retail and consumer goods marketers report having a completely unified view of customer data sources.

  21. 54% of retail and consumer goods marketers view customer journeys as the primary vehicle for customer experience improvements.

  22. 51% of retail and consumer goods marketers are actively mapping the customer journey across the company.

  23. 88% of retail and consumer goods marketers have integrated technology stacks with advertising teams.

  24. 53% of retail and consumer goods marketers share common goals with service teams.

That's all for now.... and all the best....

By the way, don't forget to explore the below stated resources which might help you or your business in maximizing your revenue/sales from various insights based perspectives.

Source: PrimoStats.

P.S: Explore the below resources that might be interesting to you!

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