The Deloitte Consumer Review
How does the high street rate among consumers?
76% of consumers are satisfied with the convenience offered, but eight in ten want greater variety of stores and more local retailers.
Deloitte publishes its first Consumer Review report
New research, published by Deloitte today, focusing on the key opportunities and challenges facing consumer business organisations operating on the high street has found that eight in ten consumers want more variety of stores on the high street. 76% of consumers are satisfied with the convenience offered by the high street while a smaller number, 60%, are satisfied with the choice and selection of stores. 72% of respondents are satisfied with the safety of the high street.
The three areas consumers highlighted they were most dissatisfied with included parking facilities – as identified by 49% of respondents, followed by access to free internet services including WiFi (39%) and the number of public places including squares and public sitting areas (38%).
The report highlights how the dynamic of the retail market has changed over the last number of years, with the high street experiencing increased competition from out-of-town retail parks, and the growth in online shopping. In addition to these competitive pressures, high street retailers have also been squeezed in recent years by declining sales volumes, coupled with onerous long-term leases with upward only rent reviews.
Despite these challenges, the high street remains a key destination for consumers. 40% of consumers shop for clothing, footwear and accessories on the high street, while 35% shop for jewellery there. While a third said they go the high street for health and personal care products, people also like to purchase these types of products in local stores and in town. ‘Books, music and media’ was the only product category where a higher proportion of respondents shop online compared to the high street.
Kevin Sheehan, Head of Consumer Business for Deloitte Ireland, commented: “Consumers in today’s market have more sophisticated expectations of product, service, value and environment when compared to five years ago. The accessibility of online retailers has multiplied with the improvement and growth in the internet, smart devices and the availability of WiFi. Technology has enabled consumers to take control of their shopping experience. High street retailers, through the integration of certain technology solutions in store, can combat some of the competitive pressures enforced by online retailers and use the advances in technology to help reshape their business. For example, the roll out of in-store WiFi would enable retailers to gather valuable consumer data on consumer trends based on what they are looking at while in the store.
“To capitalise on the opportunities presented by the new retail landscape, retailers should be aiming to create a seamless environment for the consumer through the integration of online and offline channels. Furthermore, through the development and investment of added in-store services, new revenue sources can be identified. Creating a tailored and personalised experience for consumers through the use of consumer data collected should be a key priority.”
Further findings include:
- 72% are satisfied with the choice and selection of restaurants on the high street.
- With regards to services, the high street is the most popular destination for restaurants. 40% say they use high street restaurants, 35% use restaurants in in-town shopping centres and 21% go to restaurants in out of town retail parks.
- 37% of respondents access banking/financial services on the high street, while 22% used in town shopping centres. Only 5% accessed these services online.
- 82% of consumers would like a larger variety of stores while 81% would like more local retailers.
- 81% of consumers want to see free or more parking, while 79% would like free access to WiFi.
- • 63% of consumers would use a dedicated collection point on the high street for smaller goods ordered online, and 62% of consumers said they would like to see empty points on the high street used as pick up points for goods ordered on the internet.
Notes to Editors
About the survey
The research was carried out by Amárach as part of an omnibus survey. A total sample of 1,002 was achieved with quotas set on gender, age, social class and region to achieve a sample aligned with the national population. Interviewing fieldwork dates were 17 to 21 March 2014.
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