When it comes to shopping, platforms like Facebook and Twitter aren’t replacing the in-store experience, says a PwC report on the myths of multi-channel spending released recently. According to the Multi-Channel Retail Survey, while 42% of Canadians use social media at least once a day and an additional 17% use these channels once a week, just 7% of these consumers are using social platforms to shop.
The report analyzes the factors that consumers take into account when choosing brands, and surprisingly, cost isn’t always top of mind. In fact, while nearly three-quarters (74%) of respondents say that price is important when deciding where to shop, this factor is outranked by five other drivers – the products on offer, ease of using the retailer’s website, a good return policy, a sense of trust in the brand or retailer, and the stores themselves.
Other Canadian highlights from the 2013 Global Multi-Channel Retail Survey include the fact that Canadian brands find themselves in a tough struggle against their US competitors. Only three Canadian companies (Chapters Indigo, Canadian Tire and The Bay) rank amongst the top ten favourite multi-channel retailers for consumers. As well, Canadian physical stores aren’t going anywhere soon. A quarter of respondents (compared to 17% globally) say they rarely, if ever, shop online. And, of the countries surveyed, Canada is second only to Russia when it comes to rejecting online shopping.