Islanders will shop local – if they can
LIKE many surveys, today’s retail report confirmed what most people could have guessed.
Island shoppers want it all.
Above all, they want a decent price – but that is just the beginning. They also want a great range of quality products that are already in stock, with rapid delivery times and a good website.
If it’s a shop rather than online they also want well-informed staff in a clean and upbeat shopping precinct stocked with great cafes and restaurants and handy parking.
They want more brands and UK chains; but also more independent, boutique shops.
Not much then.
But before local retailers roll their eyes and start a mental run-through of the realities of trading in a small island with freight costs, high property prices and low unemployment there is some good news.
For it is clear that most people still prefer to shop locally if they can. Only a quarter actively prefer shopping online, almost half want to shop locally and the rest don’t mind either way.
Islanders are also willing to pay more for that local shopping experience, just not too much.
A third will pay as much as 10% more for a local product than one they could find online. Go above that price barrier and the figure drops like a stone.
So, while price is king, island retailers can still compete.
First, however, they must get themselves into the market. Rightly or wrongly, many shoppers turn to the internet because they do not believe that local stores will have what they want.
If potential buyers give up the search before it has even begun it costs island retailers dearly because it means home advantages – such as the ability to touch, try and see a product or browse in shops while a sales assistant hovers nearby – are lost.
The report offers a few solutions to that problem, including better local websites.
However, considering it is a retail survey focused on what retailers can do to up their sales it is surprising that the word advertising appears just once.
Shoppers are willing to buy local, they just need to know what products are out there.