PwC's annual global total retail survey 2016 has tracked consumer behavior across retail channels, bringing to light the changes brought about by multichannel retailing. From choosing between channels to being channel agnostic, consumers today are rapidly moving towards the omni-channel way of life.
According to the findings, 2016 could be a watershed for many of the trends that have been percolating over the past few years.
Given the relatively low percentage of penetration of organised retail, Indian consumers have readily embraced multichannel shopping – the biggest factor for this continues to be convenience as stated by 65 per cent of the Indian respondents as against 47% globally.
Convenience is also continuing to drive in-store shopping for daily needs as we see a 5 per cent increase in hi-frequency shoppers (daily & weekly) in-store. 67 per cent of consumers are even willing to pay for same day delivery from online stores as compared to a global average of 62 per cent.
However, Indians remain value conscious shoppers as 49 per cent of the respondents in the India sample indicated price as the dominant factor to driving them to choose their favourite retailer.