Member Article

Yorkshire’s shopping habits revealed as online retail fatigue sets in

Research released by retail property specialist, Hammerson, owners of Leeds’ Victoria Quarter and developers of Victoria Gate, has revealed the evolving shopping habits of the Yorkshire ‘Considered Consumer.’

The region’s shoppers are now spending more on non-food products with an increase of 18.8% year-on-year, surpassing the national average of 15.1%.

Shopping trips are also becoming more frequent with consumers visiting retail outlets 9.7% more often, higher than the national average of 9.2%.

‘Considered Consumers’ are abundant in Yorkshire, with nearly one third of the region’s shoppers (29.2%) undertaking shopping trips that are planned as opposed to impulse outings.

Almost 35% of Yorkshire consumers are also keen to enjoy a rounded entertainment experience rather than an impulse shop.

Price comparison research has risen significantly over recent years, with 36.4%admitting to comparing prices more often since the recession.

In addition, recording a 0.2% increase on the national average, 9.7%t of Yorkshire shoppers agree that they regularly use their mobile phones whilst shopping to check prices online.

At a national level, technology appears to have slowed down the purchasing process, rather than making it quicker, with consumers spending twice as long browsing for products (circa 90 minutes today, compared to 50 minutes in 2003).

Overwhelmed by channels and choice, the average shopper has nearly doubled the number of stores that they visit on a regular basis, and the variety of channels, from stores, online and mobile to catalogue, has risen significantly over the past decade with one in two (45%) of shoppers saying they now use three or four channels to shop compared to one or two channels in 2002.

David Atkins, Chief Executive of Hammerson, said:“Today’s Considered Consumer holds the balance of power compared to the consumer of ten years ago. Shoppers nowadays can choose the channel they wish to shop with, when they shop, the price they wish to pay and they have a host of destination options. Retailers have to work harder than ever to attract this customer – they need to distinguish their brand and their value proposition and it’s essential to create compelling shopping environments both on and offline if they are to continue appealing to today’s consumer.

“While retailers continue to adapt to changing consumer demand, we also have to continue to develop iconic destinations with engaging and sociable spaces as consumers are expecting more - it’s no longer just about shops.”

KEY NATIONAL FINDINGS:

· 49 per cent of non-food expenditure is now “planned”, compared to 15 per cent which are “impulse” buys

· Nearly a quarter (23 per cent) of people say they have shopped more at value retailers in recent years and 18 per cent say that they will revert to normal when the economy has improved

· More than two thirds of consumers prefer using a combination of online and in-store, with 12.5 per cent of shoppers regularly checking their phones to check prices when in store

· 10 years ago, the average purchase lasted over half a day, and today, consumers take on average three and a half days to buy

· Today people explore around 13 shops regularly, ten years ago, this was an average of seven

· 53 per cent of consumers would like more departments stores in retail parks, 50 per cent would like more health and beauty and 44 per cent and 40 per cent respectively would like more fashion and restaurants in retail parks

· The lines between luxury, premium, mid-market, value and discount appear to have become blurred. While the majority of consumers still recognise brands such as Harrods and Gucci as luxury, one in ten considered consumers today would describe M&S as luxury

· In 2013, convenience trips account for a total shopping value of £29bn, experience trips of £14bn and luxury trips of £10bn

This was posted in Bdaily's Members' News section by Clare Burnett .