Navigating the path to purchase: 3 considerations for retailers in 2024

Physical retail is the leading channel for product discovery, while digital channels complement it by influencing decisions after discovery. To convert shoppers, prices must be competitive, but reviews also heavily influence purchases, especially in apparel and shoes.

Here are three things to know about the path to purchase in 2024.

1. Physical retail is critical to awareness

Though digital plays a growing role in how consumers find new products, physical retail is still the No. 1 channel for discovery, according to our Path to Purchase 2024 report.

• Nearly half (47.6%) of US shoppers say they first saw or heard about a new product they purchased while shopping in a physical store, more than social media (30.6%), multibrand retailer websites or apps (26.1%), or search engines (25.2%), according to a July 2024 EMARKETER survey.
• Physical stores are most influential across essential goods like food and beverage and household supplies, as that’s where consumers are conducting most of their shopping, said our analyst Blake Droesch.

Even in categories with higher ecommerce penetration—like clothing, shoes, and accessories—the physical store still outranks all other digital channels, possibly because it allows consumers to see, feel, and try on items before buying.

2. Digital channels complement physical retail

“The path to purchase has become more complex because of this long tail of digital media that influences the way people shop in and around their visits to the store,” said Droesch.

• Over a quarter (26.5%) of US shoppers have looked up a brand/product on a search engine after discovering it in-store, making it the top digital research tool for in-store shoppers, according to our survey.
• Nearly as many (26.4%) talk to family and friends, while 23.6% look the brand/product up on a multibrand retailer’s website or app.

“Brands and marketers are investing heavily in digital media,” Droesch said. “Though it’s hard to connect online behavior to an in-store purchase, it doesn’t mean those dollars are being wasted. A lot of the influence is happening in the upper funnel.”

3. Price is the most important factor for conversion, but reviews also matter

When asked what ultimately led them to make a purchase, 43.3% of US shoppers said it was a better price, while 39.2% said it was a discount or sale, according to our survey.

• However, across clothing and shoes, positive online ratings or reviews were the No. 1 factor that led shoppers to make a purchase, per the survey.
• Ratings and reviews are also important to accessories shoppers, the second most influential factor behind family or friend recommendations.

“Even though ratings and reviews aren’t as shiny as an endorsement from an influencer, it’s really telling that they play a large role in the shopping journey,” said Droesch.

Reviews also give retailers a way to monitor consumer sentiment and brand perception.

“With word-of-mouth, there’s no way to know what people are saying, but with ratings and reviews, you can monitor it a bit better,” said Droesch.

This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.