Report demystifies the online shopper by analyzing myths of
TORONTO, Jan. 28, 2013 /CNW/ - 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 today. 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.
However, the report shows consumers are still using social media to
engage with retailers and gain more information about companies' value
propositions. Nearly half of those surveyed (44%) say they use social
platforms to follow their favourite brands--a trend that PwC advises
Canadian retailers to take notice of.
Robert Scott, PwC's National Consumer, Industrial Products and Services
Leader says, "Social media is a daily part of life for many Canadians
and with increased competition for market share and more US retailers
entering the Canadian market, companies now need a strategy that allows
them to connect with customers directly online, while still providing a
seamless in-store experience."
He continues, "It has become crucial for retailers to create a platform
that focuses on engagement and conversation and puts the emphasis on
building strong and lasting relationships with consumers."
Price not always king
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.
"For the savvy consumer, value isn't just about price," says Scott.
"Shoppers want the whole package, and as a result, brand personality
and access are what drive customer choice and ultimately grow revenue.
This further emphasizes the need for retailers to make meaningful
engagement with consumers a priority, both online and off."
Other Canadian highlights from the 2013 Global Multi-Channel Retail
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
In Canada, 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.
Brands have the opportunity to overtake retailers as the preferred place
to purchase. While just 39% of Canadian shoppers are shopping at brand sites, the
trend globally is shifting, as more than half of consumers in both
China (56%) and the US (52%) are going to the brand directly.
The multi-channel experience leads to more spending. When Canadian consumers shop both online and in-store, the majority
(53%) spend more at their favourite retailer than they would through a
single-channel like in-store only. Furthermore, almost a third (30%)
increase their spending by at least 10%.
Tablets aren't yet at the point of replacing the PC as the preferred online shopping device. Just 14% of Canadians who shop online say they make purchases on a
tablet at least once a month—well below the 56% who indicate that they
use their PC to shop. This gap isn't expected to change rapidly within
the next year, as only 8% plan to make more purchases using a tablet,
compared to nearly a quarter (24%) who expect to expand their shopping
through their PC. Smartphone purchasing isn't making serious inroads
either, suggesting that the PC will remain the preferred device for
online shopping for the foreseeable future.
About the 2013 Global Multi-Channel Retail Survey
The 2013 Global Multi-Channel Retail Survey separates fact from fiction
and analyzes 10 myths of mult-channel retailing. PwC's International
Survey Unit undertook the study in order to understand and compare
consumer shopping behaviour and spot the patterns in multi-channel
across 11 countries: Brazil, Canada, France, Germany, China,
Netherlands, Russia, Switzerland, UK, US and Turkey. Over 11,000
individuals participated in the online survey in July and August 2012,
including 1,333 in Canada. Results are considered accurate within 3.1
percentage points, 19 times out of 20.
For the infographic related to this report, please go here. For more information, please visit: www.pwc.com/ca/en/retail-consumer/index.jhtml. A copy of the report and infographic is also available from the media
About PwC Canada
PwC Canada helps organizations and individuals create the value they're
looking for. More than 5,700 partners and staff in offices across the
country are committed to delivering quality in assurance, tax,
consulting and deals services. PwC Canada is a member of the PwC
network of firms with more than 180,000 people in 158 countries. Find
out more by visiting us at www.pwc.com/ca.
© 2012 PricewaterhouseCoopers LLP, an Ontario limited liability
partnership. All rights reserved.
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SOURCE: PwC (PricewaterhouseCoopers)
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