Though this year’s Cyber Monday was bigger than ever before, according to a new study, shoppers could save more by shopping the old fashioned way.
In a new report by the International Council of Shopping Centers (ICSC), it was found that certain product categories, including beauty products, women’s apparel, women’s accessories and women’s shoes were significantly less expensive in-store. When comparing prices of the same products, ICSC found an average cost savings of seven percent when shopping in-store versus online.
Women’s shoes, on average, were seven percent less expensive in brick-and-mortar stores. The biggest savings were found in sandals, which were 18 percent cheaper in-store. Athletic shoes were 9 percent less expensive, while boots, casual styles and flats cost 6 percent less in-store.
With Amazon predicted to become the largest seller of apparel by 2017, brick-and-mortar retailers are having to become more aggressive with deals. The good news is that customers prefer shopping in-store rather than online, according to ICSC research. Top reasons include being able to touch, see and try the merchandise as well as immediate gratifications of taking the product home.
“There’s no replacement for the social and emotional aspects of going shopping nor the ability consumers have to touch, see and try out merchandise when they visit a physical store,” said ICSC President and CEO Tom McGee. “The convergence of digital and physical creates the added benefit of being able to price compare, research and evaluate purchasing options so consumers make better-informed decisions while shopping.”