Brick-and-Mortar Retail is on the Rebound

There’s still value in going to the store. That’s one of the major conclusions contained in 14th edition of the EY Future Consumer Index (FCI), a global study surveying 23,000 consumers across 30 countries, including 1500 in the U.S.

“Contrary to pandemic behavior, where the shift to online was immediate and widespread, today we’re seeing a notable pivot away from online-first shopping behavior,” the report states.

More specifically, when asked about the main drivers to in-store shopping, 59% of consumers said they make the trip in-store for the purpose of seeing, touching and trying items before making a purchase, while 57% noted a desire to skip shipping.

“What’s more, consumers have begun to increasingly value human interaction during their post-purchase journey,” the study notes. “More than half (56%) of US consumers noted interacting with humans to be extremely important during product returns and refunds, and an additional 55% found it extremely important when looking to discuss questions or concerns about a product they already bought.”

Other notable findings from the survey include:

• 77% of U.S. consumers think their lives are the same or better now than 3-4 months ago.
• 49% of American consumers will download a brand’s app to receive loyalty promotions or exclusive deals.
• 56% of US consumers found it extremely important to interact with humans during product returns and refunds.

Click here for more from the EY study.