Instore vs online: understanding what motivates consumers

It’s no surprise that consumers want value for money. The cost-of-living crisis, the state of the economy, and global political uncertainty is likely to increase consumer demand for value even more in the coming years.¹

While value for money is important, consumers are willing to pay a premium for products that are high-quality, eco-friendly and serve multiple purposes.² 35% of consumers would rather buy fewer, but higher quality things.¹ 69% of global consumers stated that they are looking for ways to simplify their lives³ and they often do this through purchases.

Consumers’ expectations in-store vs online

Consumers’ shopping motivations differ between in-store and online. When shopping in-store, consumers want to see and try the goods before buying, and purchase the item instantly. When online shopping however, consumers are looking for the best price and free shipping.²

The top three reasons consumers abandon their online shopping carts are:

1. unexpected shipping cost
2. they changed their mind about the purchase
3. the order didn’t qualify for free shipping.¹

The digital-first advantage in retail

I believe that’s where we are heading in the long-term, that there won’t be a difference between the two – that online will converge with store and store will converge with online.

*  Euromonitor (video)
¹  Euromonitor: Voice of the industry: Consumer lifestyles 2022
²  Euromonitor: New consumer landscape: Consumerism and beyond
³  Euromonitor: Consumers in 2023

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