At this time of year, many of us are shopping the post-holiday sales. But no matter what time of year it is, the way we buy things has changed dramatically over the last decade. Sure, there are those who still enjoy the rush of finding a great in-store deal, joining the throngs of shoppers during big sale days, and ducking in and out of stores and parking lots.
But for those who don’t, alternatives abound. These range from voicing an Amazon order through a tabletop Alexa device, shopping online on their computers or using their phones or tablets to make purchases.
Some people combine their retail and online shopping resources. A recent survey found that 43 percent of mobile shoppers of electronics buy products on their phones right inside a store after searching for a better price. And nearly 70 percent of shoppers say they want retailers to offer a variety of channels to buy a product, including in-store, online, or buying online and picking up in the store.
Another new trend embraces the idea that cherished experiences are more important than physical products. These may include concerts, weekend vacations or a spa day.
In fact, since 2005, spending in restaurants and bars has grown twice as fast as all other retail spending. Even more remarkable is that 2016 was the first year ever that Americans collectively spent more money dining out than on groceries.