Company Announcements

Consumers want blend of physical presence and digital convenience, underscoring importance of omnichannel strategy

MIAMI--(BUSINESS WIRE)--Sep. 25, 2024-- Ryder System, Inc. (NYSE: R) releases its 10^th annual e-commerce consumer study – a steadfast benchmark of U.S. online shoppers’ behaviors, preferences, and expectations. The 2024 study, “The Influence of Omnichannel Excellence on Consumer Behavior,” reveals key factors influencing purchasing decisions, customer loyalty, and retention as consumers reintegrate physical stores into their shopping journeys.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240925732093/en/

A 2024 Ryder e-commerce study shows that while consumers maintain a robust affinity for e-commerce, they're also returning to in-store shopping for the experience – requiring shippers to sharpen their omnichannel strategies. (Photo: Business Wire)

The full 2024 study, “The Influence of Omnichannel Excellence on Consumer Behavior,” can be downloaded at https://www.ryder.com/2024-ryder-e-commerce-consumer-study .

“Retail and e-commerce continue to evolve,” says Jeff Wolpov, senior vice president of e-commerce for Ryder. “The emergence of e-commerce and growth of omnichannel fulfillment, particularly over the past four years, has altered consumer expectations and behavior dramatically and will continue to do so as time and technology allow. This latest study demonstrates that, while consumers maintain a robust appetite for e-commerce, they are simultaneously embracing in-person shopping, presenting an impetus for merchants to refine their omnichannel strategies.”

The survey of 1,306 U.S. shoppers explores preferences, expectations, sentiment, and behavior pertaining to purchasing, omnichannel experiences, packaging, shipping, returns, and sustainability. These findings identify patterns and trends that brands and retailers can apply to optimize their omnichannel strategies.

Key Takeaways:

• E-commerce activity remains robust, but a universal affinity for in-store shopping has emerged.
  In 2024, 61% of survey participants report shopping in-store specifically because they enjoy the experience (e.g., trying items on, comparing products, etc.), up 21% compared to last year’s study. Additionally, 35% say they shop in-store because they don’t want to wait for online orders in the mail (+4%), and 15% say they shop in-store to avoid package theft (+8%).
• Apparel and cosmetics shoppers show growing attraction to buying in-store.
  When purchasing apparel and cosmetics products, shoppers are more inclined to make purchases in a physical location than they were last year. Forty-one percent of shoppers who buy cosmetics say they prefer to do so either in a brand’s physical retail location or a department/convenience store (+9%). As for apparel shoppers, 54% prefer to buy clothing in those same brick-and-mortar locations (+9%).
• ​More customers prefer returning online purchases in physical stores.
  Fifty-five percent of shoppers (+15%) now say they would rather return online purchases in-store – the first time since early 2020 the preference to Buy Online Return In-Store (BORIS) has outweighed returning via mail. Forty percent of shoppers say they often make additional purchases when picking up or returning online purchases in-store (+2%).
• Consumers are extremely reliant on mobile devices when shopping in-store.
  This year’s survey reveals that 77% of consumers search for items on their mobile devices while in a store. Sixty-nine percent compare prices with items in nearby stores, 58% check availability at other stores, 31% want to learn more about a product, and 17% want to see other items frequently purchased with a product they’re considering.

“Omnichannel strength is not a fad; it is a strategic necessity for e-commerce and retail businesses to stay competitive and achieve sustainable success in 2024 and beyond,” adds Wolpov. “The findings from this year’s study underscore what we know our customers are experiencing, which is the positive impact of integrating supply chain technology solutions across their sales channels, enabling them to provide their customers with flexible, convenient options to personalize their experience and heighten customer satisfaction.”

For more information about Ryder e-commerce and omnichannel fulfillment solutions, visit https://www.ryder.com/en-us/e-commerce/e-commerce-fulfillment.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a fully integrated port-to-door logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, contract manufacturing and packaging, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, nearshoring solutions, full-service leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 250,000 commercial vehicles, services fleets at 760 maintenance locations, and operates nearly 300 warehouses encompassing more than 100 million square feet. Ryder is regularly recognized for its industry-leading practices; technology-driven innovations; corporate responsibility; environmental management; safety, health and security programs; military veteran recruitment initiatives; and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations with respect to market trends, e-commerce, omnichannel fulfillment and consumer preferences, are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

ryder-scs

View source version on businesswire.com: https://www.businesswire.com/news/home/20240925732093/en/

Media Contact:
Lee Groeger
3E Public Relations
lgroeger@3epr.com

Source: Ryder System, Inc.