Over 60% urban consumers prefer to shop both online and offline: CBRE

Over 60% urban consumers prefer to shop both online and offline: CBRE
NEW DELHI : A majority of Indian consumers prefer to shop for goods both online and offline highlighting the shift in consumer preferences that have become more mainstream post the pandemic. Real estate consulting firm CBRE South Asia Pvt. Ltd.
, on Thursday released India specific findings of a global survey. According to the India-specific insights, while covid-19 accelerated the reach of e-commerce among consumers, many shoppers went back to physical retail once cities started reopening and have since adopted hybrid commerce. TRENDING STORIES See All Premium Google rolls out third party payments for all Indian de .
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However, more than 55% of small-town consumers preferred online shopping for gifts, clothing and footwear and electronics; only 31% preferred shopping online for essential items. “Consumers increasingly expect to be able to shop anywhere and anytime across multiple channels. CBRE recommends that apart from investing in omni-channel capabilities, retailers should also offer real-time inventory visibility, facilitate seamless returns or pickups and transform in-store supply chains to be more adaptive and resilient to customer needs," Ram Chandnani, Managing Director, Advisory and Transactions Services, CBRE India, said.
For developers the task ahead is not just about getting the right tenant-mix, but about creating an authentic environment that keeps diversification, convenience and experience in mind, he said. More than 70% Indian shoppers agreed that they have shopped more online since the pandemic and will continue to do so in the future. On the other hand, consumption via offline channels will be driven directly by product and in-store experience, the report revealed.
However, most said that they would also visit stores in a bid to try on items before buying them. “Examining the products remains the top reason driving people to brick-and-mortar stores across most categories; with the exception of essential items where immediate availability of products takes priority," the report said. Meanwhile, consumers believe that they are also able to find better product assortment in brick-and-mortar stores.
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Having said that competition online has increased too as consumers shop across categories. Online shopping remains a popular way to shop among Indian shoppers, especially millennials, according to the survey. “ A wider choice of products was also stated as the top reason to shop online by survey respondents.
The presence of larger inventory has led to more competition among online brands, causing them to introduce promotional offers and discounts to differentiate themselves and encourage sales," it said. Catch all the Industry News , Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates .
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