Streetsmart insurance Blog
Although online shopping is becoming more and more popular and the new big thing when it comes to buying goods, physical stores are still more important.
A survey conducted by ICSC points out that physical stores play an important role in the success of retailers. As a matter of fact, 96% of online buyers still visit the retailer’s physical store, according to the research titled The Importance of Physical Stores: Halo Effect. In addition to that, more than 50% of online shoppers say that it is still important for online retailers to have a physical store that is near the shoppers’ home or workplace.
What Makes the Difference
Why is this so? This is for the reason that a physical store and its staff are what make the difference in a very competitive market. Actually, most online stores or websites look alike; the only difference between what they sell is the price.
In addition to that, among all general product classifications, consumers spend majority of their money either at sellers that own a physical store or buying from omni-channel retailers, which are sellers that have both a physical and an online store.
Online vs. Omni-Channel Retailers
Amongst people who purchase online from omni-channel merchants, 59% said that they bought certain products online for convenience, whereas 45% mentioned the effortlessness of returning products in physical stores that are nearby.
In addition to that, according to another research, 45% of consumers opt to buy goods online because it has wider selection of products. On the other hand, 38% of shoppers said that the top reasons as to why they prefer to buy from omni-channel retailers are it is easier to pick-up products ordered online, there is no shipping fee required, and there are no delays.
Why Shoppers Still Prefer Physical Stores
Most consumers still choose to buy products from physical stores because it makes experiences for them. Purchasing goods from physical stores lets shoppers see products in person – allowing them to touch and have a feel of the product and know the product’s details first hand. Most importantly, consumers still choose to buy products from physical stores instead of buying online for the reason that they get to straightaway take home with them the items that they bought.
Whether you own a physical store or not, businesses need to be insured for protection. At StreetSmart Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. To learn more about how we can help you, please contact our agency at (732) 462-8343 or Click Here to request a free quote.