Magna Studies Tech Impact On Australian Retail
Group buying and price comparison sites are losing popularity with Australians as online retailing shows signs of maturing in some sectors, moving away from a focus on low price, according to new research from media investment and intelligence agency Magna Global.
Magna Global’s latest annual research in the series called The Changing Face of Retail details the volatile influence of new technologies on the Australian retail industry, as well as the appeal to customers of traditional retailing.
The impact of mobile devices on retail remains the most volatile sector. While online shopping using desk-based devices has increased 11% in the past year, shopping using a smartphone has accelerated 19% and shopping using a tablet device has shot up by 52%.
“This year’s data shows some important shifts in retail customer dynamics,” said Magna Global Australia managing director Victor Corones. “Group buying sites, price comparison sites and catalogue aggregator sites have declined in popularity by about 9%. This is also highlighted in the other data in the study where last year 80% of people said they made an attempt to get the best deal, but that figure has dropped to 74% this year.”
Corones added that an important detail emerging from the new research is that online and in-store shopping have different patterns across the course of a week. Online shopping peaks on Thursdays and Fridays, while in-store has kept its traditional peak time on Saturdays.
Source: Magna Global Australia
“This shift in shopping behaviour is an important detail for marketers and an indication that media dollars should be shifting to meet shoppers online considerations,” said Corones.
In another sign that the novelty of online shopping may be waning, this year 53% of people said they liked to engage with a real person when buying a product, versus 49% last year. And the Magna Global data also shows that in-store still wins hands down when it comes to brand experience, as well as customer service.