New Retail Survey Released

King Retail Solutions (Eugene, Ore.) has released the infographic results of its Fall 2013 survey of more than 1,200 U.S. Millennial, Generation X, and Baby Boomer consumers. The study, conducted by KRS in collaboration with the University of Arizona Center for Retailing, emphasizes the changing face of the retail industry and shoppers’ evolving attitudes toward where they will shop for groceries, fresh meals, apparel, and services ranging from haircuts to medical treatment.

Shoppers were polled on their past shopping habits, current shopping attitudes, decision-making factors, and their top preferred retailers (Target, Walmart, Walgreens, and Costco topped the list in each category), all as relates to purchasing these types of goods from a non-traditional source (e.g., purchasing a fresh meal from a pharmacy or a hair cut from a big-box store).

The study also analyzes demographic variances in habit and attitude (age, sex, family status, locale all affect decision making) and suggests that category blurring will continue to thrive, making the embrace of new sales channels both an opportunity for retailers and a source of new competition as retailers expand to compete outside of traditional channels (e.g., grocery stores competing with quick-service restaurants).

KRS is scheduled to present results from this study and speak on a panel discussing the topic of blurring retail channels and how this evolution is affecting experience design at the SEGD Exhibition & Experience Design Workshop in Washington, D.C., August 21-22, 2014.

KRS Executive Vice President Andrew Swedenborg, who will speak at the SEGD event, said the survey highlights how creating a positive shopping experience is key to retailers' success regardless of their product mix. “It can’t all be about one-stop-shop, but if it’s a retailer they appreciate, they are going to shop there and if new, non-traditional items are available for sale, they are going to buy those items. Expanding what you sell is only a part of the equation; delivering a valuable shopping experience is the real challenge.”

To view the report compiled based on the  four-part study, click here. To request a PDF or hard copy of the study, email [email protected].

 

 

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