Deals and discounts are two driving factors for consumers in a brick-and-mortar landscape. Over 73% said that sales will be an important draw to stores, followed by convenient pickup and returns, and the availability of customer service.
Increasing e-commerce returns have caused various frictions and logistical errors for retailers. Consumers often feel more comfortable returning their online orders to a brick-and-mortar store. Once fitting rooms are reopened, this will likely decrease e-commerce returns as a whole – lessening the shortcomings that follow.
“Shoppers miss the physical elements of the in-store experience that can only be offered in a brick-and-mortar setting, like fitting rooms. However, they also have new expectations around what the in-store shopping journey should look like,” said David Sykes, Head of US at Klarna.
Stores provide instant gratification – allowing for customers to physically feel products for themselves, and take them home that same day. Nearly 79% of consumers visit brick-and-mortar stores to touch and try-on products. In-store experiences have become crucial for the browsing and discovery phases of the shopper’s journey – 56% noted this as another top reason to visit stores.
Other key findings from Klarna’s research:
- Shoppers prefer to purchase apparel and footwear in-store
- Millennials and Gen Z appreciate the speed and efficiency of physical stores
- 83% of shoppers say that they would shop in-store at their favorite online-only brand if the brand were to open a brick-and-mortar store in their area
- 91% of shoppers expect brands to offer both online and in-store shopping experiences
The past year has been transformative for retail – creating a whole new playbook for brick and mortar. There’s now a clear demand for the physical elements of retail to return to normal, while still meeting today’s evolving landscape. However, one thing is for sure – consumers crave real and interactive in-store experiences.
We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna’s offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna’s innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $31 billion. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. For more information, visit klarna.com.