New chapter in retail: consumer frequency in physical stores grows
The data indicates that consumers are feeling the need to experiment with products, so much so that, in September this year, visits to physical stores grew 5% compared to the same month in 2022. In shopping centers, the increase was 13%, according to research by the Sociedade Brasileira de Varejo e Consumo (SBVC) (Brazilian Society of Retail and Consumption).
by Dilnara Titara
Stores are no longer just transaction spaces, but stages for sensorial interactions, where experimentation and direct contact with products gain prominence by providing a deeper connection between brands and consumers. “In the case of electronics, the phygital purchasing journey is a decisive element in increasing frequency, since the consumer in 2/3 thirds of this journey searches online, but makes the purchase in the physical store”, says Fernando Baialuna, director of gfkconsult and retail at GfK.
By offering a successful omnichannel experience in the current consumer scenario, companies are more likely to win and retain customers, as they feel more connected and understood by the brand, in addition to gaining a competitive advantage in the market. Omnichannel strategies not only increase online retail revenue but also drive significant traffic to stores. This way, companies can analyze the different channels more deeply.
“It is worth highlighting that, for both electronics and consumer goods, classes C and D are returning to purchasing with more promotional incentives and greater frequency of visits to stores, even though this resumption of purchases occurs in a conservative manner. But the bias is more physical than digital”, explains Fernando.
New purchasing paradigm
According to data from the Índices de Performance do Varejo (IPV) (Retail Performance Indexes survey, carried out in partnership with the Sociedade Brasileira de Varejo e Consumo (SBVC) (Brazilian Society of Retail and Consumption), the flow of visitors to street establishments grew by 5% in September 2023 compared to the same month last year, and shopping malls showed a 13% increase in the number of visits in the same period. Compared to the previous month, street stores increased by 2% and those located in shopping malls increased by 3%.
“It is in physical stores that customers have a unique shopping experience”, points out Alex Marques, regional director at Casas Bahia. “They are our relationship centers. We invest a lot to bring the best experience to each customer, and each employee is a sales consultant and expert in our categories. A well-served customer buys again and recommends others. This is the basis of our best marketing, and that is why we are always advancing in this channel.”
The attraction of physical stores lies in the experience and relationships. Fernando says that as much as the digital experience delivers more information and gives greater autonomy, it is clear that the opportunity to get to know the product, have a sensorial experience, and the feeling of security offered by the salesperson in the store are elements inherent to the nature of the human being.
Future
The physical store is in an important process of transformation in format and meanings for different missions and shopping journeys. This has different impacts on industry sectors. Commerce sees less turbulence with the recovery of purchasing power, a drop in inflation and a reduction in interest rates for 2024. “These new indicators are elements for building a more optimistic scenario, pointing to the tendency for us to experience a more favorable year for the consumption in 2024”, highlights Fernando.
The return to physical establishments along with the dynamic phygital scenario has impacted not only consumers eager for new shopping journeys but also the strategies of industries and retailers across the country. It is time to rethink consumer approaches, reinvent more immersive experiences and mainly personalized.
Source: Eletrolar News ed. 158
