The “vampire economy” effect

Retail consumption has been affected by a change in pattern of human behaviour. Shopping used to be a Saturday afternoon activity yet now the most expenditure is in the evening. The most common time to shop is 22:18 according to Stylist magazine.

Nocturnal shopping habits are influenced by TV and social media that we tend to watch and look at later in the evening.

Although this benefits retailers who only have an online presence, the retailers who profited off Saturday afternoon shopping sprees need to be able to adapt. Consumers are lazier than ever before, so they need incentives to actually enter a store if they don’t have to. The purpose of the store has changed; it is no longer the primary place to purchase items, it needs to act like a showroom to promote the entire brand.

Customers may well visit a store on a Saturday afternoon or on their lunch break yet wait to make their decision and go ahead and purchase from the comfort of their beds.

Ensuring there is seamless connectivity between physical and digital stores means retailers can profit from the Vampire economy.