Business View Magazine | October 2019

13 BUSINESS VIEW MAGAZINE OCTOBER 2019 A mid the rapid pace of transformation across the retail industry, new research from Blackhawk Network reveals how people want to shop, pay, and engage with retailers today. Although digital growth in retail continues, traditional modes of shopping and payments such as in-store purchasing and cash maintain a strong foothold in U.S. retail consumer behavior. These are among the findings of the latest research commissioned by global branded payments provider, Blackhawk Network. “Transformation is occurring across retail in response to changing consumer preferences, advancements in technology and the evolution of payments,” said Theresa McEndree, Vice President of Marketing for Blackhawk Network. “Our research highlights areas of vast disruption. Brands that are thriving are those actively looking for ways to overcome new challenges by creating fresh, seamless experiences to engage customers across the channels they find most valuable. At Blackhawk, we are continually examining and embracing these changes in order to evolve and enable our partners to meet shifting consumer needs.” Key trends currently shaping the retail industry according to Blackhawk’s latest research: • In-store shopping is alive and well. Despite widespread retail innovation and disruption, traditional brick-and-mortar retail shopping remains relevant. • Consumers are purchasing at retail stores as often, if not more often, than they did last year. Sixty-three percent of consumers surveyed are purchasing in-store as often as last year. Twenty-eight percent of consumers surveyed said they are using retail stores more frequently, compared to only nine percent of shoppers who report using retail stores less often. • Convenience and speed are top motivators. Seventy-six percent of consumers surveyed reported convenience as their top motivation for shopping in-store. Fifty-six percent cited OPENING L INES THE STATE OF RETAIL: TRENDS IN CONSUMER, RETAIL AND PAYMENT PREFERENCES