The poll, based on voluntary responses by an online voter panel numbering 100,000 people, shows younger Australians are saving more and spending less – and shopping more online. But the real surprise is the changing habits of older consumers Crikey.com reports.
"Seniors and middle-aged people tend to account for much less of the overall retail spend than younger people, but in this case it appears major retailers can’t win either way: younger shoppers who profess not to be overly fussed about issues such as price or service at big retailers are moving onto the internet in droves, while older shoppers, more resistant to moving online, are being turned off major retailers by poor service and high prices," reported Crikey's analysis of the results.
A summary of the report's main findings includes:
- 46 per cent of seniors and 47 per cent of 55-64-year-olds were shopping either a little or a lot less at major retailers, and were also staying away from major shopping centres.
- 36 per cent of consumers across all age groups are shopping less at major retail stores;
- 32 per cent said they were shopping less at major shopping centres
- Online, 42 per cent are spending more and 18 per cent less.
- Majority of online growth was driven by consumers aged 18 to 34, while 20 per cent of those aged over 55 were shopping less online
Respondents identified price and service standards as the main areas of dissatisfaction with major retailers. Read the full article here.
The Retail Show Australia 2012 event looks at strategy and innovation for world-class retail brands. Taking place on 20-21 March in Sydney, this event should be attended by Retailers so that they can learn how to engage with their customers and hear from a top shelf line up of international and local retail leaders. Find out more here.