Nearly Half of U.S. Adults Prefer Shopping In-Store Over Online Shopping According to Coldwell Banker Commercial Survey

New survey indicates brick and mortar retailers should adopt tech and small-store format to please shoppers

Madison, NJ – November 14th, 2017 (PRNewswire) The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

According to the survey, nearly half (47 percent) of U.S. adults surveyed prefer to make purchases in-store over shopping online.

Real Estate Infographic

“Despite doomsday headlines about the retail industry and how e-commerce has taken over, our survey has found that Americans still enjoy and remain loyal to in-store shopping, regardless of the retail climate,” noted Fred Schmidt, president and chief operating officer of Coldwell Banker Commercial Affiliates. “When asked a similar question in 2016, 43 percent of Americans preferred to shop in-store over online, and this year it has ticked up to 47 percent of Americans. All in all, this shows that brick-and-mortar retail remains steady, but there is work to be done to keep the industry relevant.”

The survey responses also were segmented into the following generational categories: Younger Millennials (ages 18-29), Older Millennials (30-34), Gen Xers (35-49) and Baby Boomers (50-69).

Retail Technology is Making an Impression

As U.S. adults become more comfortable with technology in every aspect of their lives, the affinity for it seems to be spilling into their shopping preferences as well.

  • Self-serve checkouts: Over one-third of U.S. adults (35 percent) say that in-store technology, like self-serve kiosks and checkouts, improves their shopping experience.
  • Staying in Touch: When it comes to staying in touch with their favorite brands while shopping via in-store tracking and notifications, Younger Millennials prove that they are digital natives, with 4 in 10 (41 percent) showing interest in this.
  • Virtual Retail: The application of virtual reality (VR) is a relatively new concept in the world of retail, but it seems American adults are becoming more comfortable with it. In 2016, 10 percent of Americans were open to using augmented or virtual reality while shopping in store. This year, 17 percent of U.S. adults were open to this, while nearly 3 in 10 Older Millennials aged 30-34 (28 percent) reported interest in VR technology while shopping in store.

“Increasingly, American households are introducing more and more technology into their day-to-day routines, and it’s only natural for them to expect more from their retailers,” says Schmidt. “Not surprisingly, the Millennial crowd is more interested in these features than other generations and I expect these numbers to grow over time, not just as we become exposed to more tech, but also as Gen Z acquires more purchasing power as they grow older.”

Mom-and-Pops Remain Popular, Even Among a Younger Crowd

Despite the easy availability of goods online and in big box stores, it seems Americans across all age groups still value local small businesses and often prefer to shop in boutique stores.

  • Over 40 percent of U.S. adults (42%) say supporting local small businesses is important to them as they make decisions about where to shop. While Baby Boomers are more likely than Gen Xers to say this (45% vs. 37%), Millennials aren’t too far behind at 38 percent.
  • Millennials lead other generations when it comes to their preference to shop in-person at smaller boutiques or shops, instead of shopping at larger department stores (27% vs. 17% of Gen Xers and 16% of Baby Boomers).
  • “Across the board, Americans prefer to support locally-owned, small businesses, whether a traditional mom-and-pop or a more refined boutique store. Naturally, one might ask, ‘what will this mean for large, big box stores?’, and the answer is that they too will have to adapt,” added Schmidt. “In order to remain relevant, big box and department stores will need to look at their large stores and consult with their brokers about reconfiguring space to create a more appealing, boutique look to encourage more foot traffic.”

    Full survey findings are available on the Coldwell Banker Commercial website.

    Methodology

    This survey was conducted online within the United States by Harris Poll on behalf of Coldwell Banker Commercial Affiliates from August 15-17, 2017 among 2,001 adults ages 18 and older, including 194 Younger Millennials (18-29), 160 Older Millennials (30-34), 479 Gen Xers (35-49), and 884 Baby Boomers (50-69). The 2016 survey was conducted online within the United States by Harris Poll on behalf of Coldwell Banker Commercial Affiliates from September 14-16, 2016 among 2,069 adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.

    About Coldwell Banker Commercial Affiliates

    Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates is a division of Coldwell Banker Real Estate LLC. The Coldwell Banker Commercial brand has been a premier provider of franchised commercial real estate brokerage offices, recognized globally as a company that puts the client first while delivering individual, distinctly different service. Coldwell Banker Commercial affiliates cover territory throughout North America, South America, Europe, Africa, Asia and Australia. Coldwell Banker Commercial is an industry leader in providing commercial real estate solutions that serve the needs of tenants, landlords, sellers and buyers in the leasing, acquisition, disposition and management of all property types. Each office is independently owned and operated. Coldwell Banker Commercial® is a registered trademark owned by Coldwell Banker Real Estate LLC. For more information, visit: www.cbcworldwide.com.

    Media Inquiries:

    Nicole Brzyski
    Coldwell Banker Commercial
    (973) 407-7251
    nbrzyski@cbcworldwide.com

    Rebecca Pineiro
    CooperKatz for Coldwell Banker Commercial
    (917) 595-3032
    rpineiro@cooperkatz.com

What Prompts People to Turn Off Their Ad-Blockers?

Source: Statista

At first glance, tough love seems to be the way forward for online media to get users to turn off their ad blockers. 58 percent of respondents in a Reuters Institute for the Study of Journalism (RISJ) poll said that they turned off their ad-blocker, at least temporarily, if there was no other way to view the website or content. But explaining to users that the ad money is needed to fund the website can get publishers places too. 26 percent of users said they switched off the blocker when notified the website depended on the ad funds.

The good news is that there are ways to get users to comply with the rules of indirect funding. However, this doesn’t mean that users will start loving ads because they were in some way coerced (or kindly asked) to turn off their ad blockers. Then again, 43 percent of respondents said they switched off their blockers for particular news sites, meaning that news media could profit from investing in a relationship with users. It seems, some users surf with an ad-shield by default, but are willing to let down their guard if the targeted website is trusted.

This chart was first published by our partner website FIPP.

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How To Improve Your Marketing With Custom Links and Pages On a Single Property Website

Not only can you create unlimited custom menu items that link to custom pages and outside Web resources, but you can also save them for use on future single property Websites.

For example, if you generally list in Dutchess County, NY, you can create links to local theater, parks and points of interest to help future buyers fully appreciate the community and get a feeling for the property before they ever see it.

Use custom links to create menu items for train schedules, weather information, local government resources and other Websites that you would like to potential buyers to view.

Adding Custom Links 

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Custom pages and links can be created and stored within your PowerSite account so you can easily reuse them for future listing presentations.

Please contact us if you have questions.

The AgencyLogic PowerOffice Brokerage System – An Overview

AgencyLogic’s free PowerOffice Brokerage System was designed to give your agents the tools they need to gain listings and keep your office ahead of the competition.

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ex_poweroffice

To hear about the benefits from agents and brokers, watch this brief video and of course contact us if you have any questions.

2017 NMHC/Kingsley Renter Preferences Report Reveals Impact of Online Reviews and Short-Term Rentals on Leasing Decisions

Landmark survey of more than 270,000 apartment renters offers local, regional, and national insights across hundreds of factors in 80 markets

Washington, D.C. – October 25, 2017 (BUSINESS WIRE) What do apartment renters really want? The 2017 National Multifamily Housing Council (NMHC)/Kingsley Renter Preferences Report includes responses from more than 270,000 apartment renters across the U.S. to determine what apartment features and community amenities are most desirable, how renters are finding their apartments, and their top considerations for moving.

NMHC Logo

“Since 2011, the number of residents living in all rental housing has increased by an average of nearly 1.7 million every year, according to the Census Bureau. Demand for rentals continues to grow and this report provides unprecedented insight into how apartment renters search, what they expect to pay, and what they won’t rent without,” Rick Haughey, Vice President, Industry Technology Initiatives, National Multifamily Housing Council, said. “New findings in this year’s report include data on short-term rentals and the impact of online reviews when deciding which properties to visit.”

Short-term rentals are more important to younger renters

Nearly half of respondents under the age of 25 (49 percent) are interested in the opportunity to generate additional income through short-term rentals, such as Airbnb, compared to 15 percent of renters age 65 and over. Further, 32 percent of renters age 65 and over report they would not rent in a community that offered short-term rentals.

Online reviews are making an impact

More than three-quarters of the respondents (79 percent) reported that online opinion sites influenced their current leasing decision, with many (72 percent) noting such sites stopped them from visiting a community. The report also found that renters aren’t just looking at online reviews – they’re looking at how property managers respond. More than eighty percent of respondents (82 percent) noted they expect to see a response to at least negative, if not all, online reviews.

Rental Infographic

Renters reveal their top deal breakers

It’s not just a matter of what renters want – it’s also about what they can’t live without. The 2017 NMHC/Kingsley Renter Preferences Report captured the most important features and amenities for renters as well as which items renters really can’t forego. A sizeable portion of renters noted they won’t rent without the following features or amenities. The top five apartment features renters prioritize in terms of interest are:

  • Air conditioning (94 percent interested)—92 percent of these respondents won’t lease without
  • High speed internet access (93 percent interested)—63 percent won’t lease without
  • Soundproof walls (91 percent interested)—53 percent won’t lease without
  • Washer / Dryer in unit (89 percent interested)—77 percent won’t lease without
  • Dishwasher (88 percent interested)—86 percent won’t lease without

When it comes to community amenities, apartment renters are most interested in:

  • Reliable cell reception (92 percent interested)—78 percent of these respondents won’t rent without
  • Secure resident parking (88 percent interested)—71 percent won’t rent without
  • Secure amenity access (84 percent interested)—49 percent won’t rent without
  • Swimming pool (84 percent interested)—60 percent won’t rent without
  • Fitness center (82 percent interested)—55 percent won’t rent without

Package storage is on the minds of more than half of respondents nationwide

The survey found that 57 percent of those surveyed are highly interested or interested in package lockers. Nearly half of renters surveyed (47 percent) receive at least three packages per month.

“It will take millions of new apartments in order to meet the growing demand for rental housing,” said John Falco, Principal, Kingsley Associates. “As developers work to meet these demands, understanding the needs and wants of apartment renters across the U.S. – from basic apartment and community features like flooring, countertops, pet areas, and architectural features to premium amenities such as smart thermostats, soundproof walls, and walk-in closets – is paramount.”

Research from June of 2017 estimates that the country will need 4.6 million new apartments by 2030.

About the Survey

The study includes residents from 25 industry leading multifamily firms who own and/or operate over 1.4 million apartment homes. Responses were received from 272,743 residents at 4,795 communities. While all respondents were shown demographic and interest questions, the remaining questions were divided among subsets of the total respondents, with each subset consisting in the high tens of thousands. To learn more and to purchase the report, visit: http://nmhc.org/residents.

About the National Multifamily Housing Council

Based in Washington, DC, the National Multifamily Housing Council (NMHC) is the leadership of the trillion-dollar apartment industry. We bring together the prominent owners, managers and developers who help create thriving communities by providing apartment homes for 39 million Americans. NMHC provides a forum for insight, advocacy, and action that enables both members and the communities they help build to thrive. For more information, contact NMHC at 202-974-2300, e-mail the Council at info@nmhc.org, or visit NMHC’s Web site at www.nmhc.org.

About Kingsley Associates

Since 1985, real estate leaders have turned to Kingsley Associates to maximize their portfolio and organizational performance. Our comprehensive suite of research and benchmarking tools assess firm performance and competitive position based on direct feedback from key stakeholders. Kingsley’s primary services include resident and tenant surveys, employee engagement studies, client / investor surveys, and peer benchmarking programs. In response to the need for performance-based benchmarks, Kingsley Associates developed the Kingsley IndexSM, which is now the largest and most comprehensive database of customer satisfaction metrics available to the real estate industry. To learn more, please visit our website http://kingsleyassociates.com/ or follow us on Twitter @Kingsley_Assoc.

Contacts

Danielle Cyr
(860) 676-4400
danielle@cocommunications.com

Google Analytics and AgencyLogic Single Property Websites

One very popular feature of AgencyLogic single property Websites is their ability to leverage Google Analytics, an enterprise-class Web analytics solution that gives you rich insights into your Website traffic and marketing effectiveness.

Google Analytics

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Google Analytics

Features include:

Advertising ROI

Measure the success of your display, search, new media and offline advertising efforts.

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Compare your site usage metrics with industry averages and track Flash, video, and social networking sites and applications.

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Create the reports, dashboards, and segments that make the most sense for your business.

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Administration controls and email reports allow you to share data across your organization.

Google Integration and Reliability

Google Analytics complements a suite of related products, all running on the same world renowned infrastructure that powers Google.

The following video, from Google Small Business, walks through:

  • What can you learn from Google Analytics
  • Which reports show the answers
  • What can you do with this information

Of course let us know if you have questions!