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Despite the growing popularity of e-commerce, Singaporeans still prefer to shop at brick-and-mortar stores rather than via the Internet, revealed the latest survey conducted by CBRE.
In fact, 56 percent of the respondents said their most frequently used method to shop for non-food items is going to the actual store, while 44 percent shop online via their desktops, laptops and smartphones.
85 percent also shared that they visit a physical store at least once a month, while 49 percent shop online at least once a month.
Moreover, the cash outlay at actual stores is greater than at online stores. 62 percent of the respondents spend S$51 to S$200 per month at actual stores, while only 55 percent incur this expense while shopping online. Finally, 14 percent fork out S$201 to S$500 in brick-and-mortar stores versus 9 percent for those who shop virtually.
The survey also asked Singaporeans to project any changes in their shopping behaviour in the next two years. 66 percent said they would not alter their preference for in-store shopping during the period. 21 percent will shop more often at a store, while 29 percent of respondents age 18-34 will spend more at these establishments
Although the respondents still prefer to shop at stores, 49 percent of the indicated that they will use a laptop more often to shop in the next two years.
“All the buzz around e-commerce give the impression that physical stores are on their way out but this is not true. The physical store remains the vital piece to the shopping puzzle,” said CBRE’s Director for Retail Services Letty Lee.
“The key takeaway from these findings is that Singapore based retailers should not neglect the online space or discount the importance of the physical store. Given how technologically savvy the local consumer is and that their shopping habits are expected to evolve further in the future, it is imperative that retailers offer consumers a multi-channel platform in which shopping online and offline becomes one integrated seamless experience,” Lee added.
In contrast to the Singapore survey results, the Asia Pacific poll noted that 25 percent of respondents expect to shop less often in a store, while 45 percent to 50 percent of them would shop online more often than they do now.
The local survey was carried out in August 2014 and involves 1,002 Singaporeans, belonging to households with at least one digital device. As for the larger Asia Pacific poll, it involved 11,000 consumers aged between 18 and 64 years old from 11 major cities in the region.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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