Latest UPS Pulse of the Online Shopper study confirms the accelerated shift that has Gap and other retailers questioning their business models
Given the data junkies that we are, we are always looking for confirming data points and this one while a bit self serving certainly confirms the accelerated shift toward digital commerce. We define digital commerce to include both online and mobile shopping. Given the growing install base of connected devices, collapsing time to customer from Amazon and others, and consumer psychographics, we see this acceleration only picking up speed. Pretty much, tracking as expected for our Connected Society investing theme. As this happens, we’ll also see benefits ripple through to our Cashless Consumption investing theme.
According to the fifth annual UPS Pulse of the Online Shopper study, 51% of all purchases made by respondents were made online. This is up from 48% in 2015 and the first time in the study’s five-year history that figure went above 50%. The study is based on a comScore survey of more than 5,000 U.S. online shoppers.Considering this result, it is not too surprising that 17% of consumers plan to shop less in store, shifting time to their electronic devices. The use of smartphones is up 10 percentage points to 77% during the past two years, and respondents report a better mobile experience with satisfaction up eight percentage points to 73% since 2015.
Source: UPS: Online shoppers shift purchase habits | Chain Store Age
