Retail Trends

Top retail stats for August

Aug 31, 2021

Here are some interesting stats we’ve found in the world of retail this month – and this time, they’re all around the theme of localization in the face of e-commerce expansion.

Nearly half of British consumers would pay more to shop locally

Deloitte research has discovered that 46% of British consumers would be willing to pay more to shop locally, rather than online. This stat is indicative of a wider, global trend that has emerged during the pandemic, that has seen consumers returning to their local high streets and malls.

44% of consumers are less tolerant of poor online service

The same study confirms that the biggest trigger for shopping at local shops is poor online service. 44% of consumers refuse to tolerate it – and it’s becoming increasingly clear that there is little margin for error for online retailers. Equally, if local high streets and services flourish, online and delivery standards will have to be consistently high to compete.

Shoppers are buying locally to strengthen their local economy

Research from Statista in October 2020 found that across many major economies, consumers were shopping locally in order to support local businesses. In the US and Canada, more than 70% of consumers said they were shopping locally for this reason, while in France the figure was 62%, and in Germany the figure was 59%.

This suggests that the hyper-local trend isn’t just being driven by online failures, but by consumer passion for their local communities.

‘Near me’ stock searches explode during the pandemic

According to retail tech business NearSt, online searches for what’s in stock locally tripled during the pandemic compared to pre-Covid levels. Furthermore, 83% of consumers have said they prefer to shop locally to online if they know an item is available in a nearby store.

This evidence represents a big opportunity for retailers with stores that are able to make their stock visible to local customers online.