Two reports have been published this week discussing consumer habits and whether consumers prefer to buy online or locally. The more publicised High Street Review by retail guru Mary Portas concluded that the High Street as a shopping location is dying and needs local government intervention to resuscitate it. Whilst Mary is undoubtedly right, and as her TV projects have shown, this is unlikely to surprise anyone who has visited many of Britain's High Streets recently. Government research also published this week confirmed that one third of High Streets are degenerating or failing. The overriding conclusion is that customers are increasingly shopping at big brands at out of town locations or on-line.
The other report is a YouGov survey into Conveyancing. YouGov had been commissioned to enquire how consumers choose their conveyancer, their attitude to risk and their confidence in using big brands such as retailers or banks compared to local solicitors. In this report the conclusion was that big brands would not provide the best service to housebuyers and using someone with local knowledge was the most frequently mentioned reason for choosing a particular conveyancer. Only 3% of respondents to the survey said that they would use an on-line conveyancing service.
Why is there such a difference in the requirements of consumers in these two reports and why do they appear to contradict each other? After all, the consumer polled by YouGov about conveyancing is the same shopper deciding whether to venture to the High Street, go to a shopping centre with free parking or stay at home and buy online.
Whilst legal services such as conveyancing have become commoditised and price sensitive, buying a house is still the most expensive and stressful transaction for many people. Having a local specialist on your team and a named expert to advise you is more important than the convenience of using an online service. The YouGov report also found that most consumers do not want to be dictated to by banks as to which legal provider to use but were generally happy to rely on recommendations from estate agents and especially from friends.
Reading deeper into the comments following Mary’s High Street report, many shoppers express delight when they do venture into the High Street at the level of knowledge, expertise and customer service that they experience from shopkeepers and professionals who have managed to remain local. At this point, the contradictions in the two reports start to diminish and the common theme of customers valuing expertise and experience over convenience and price shine through.
Perhaps the High Street as we know it does need a kiss of life but its purpose as a place for the public to obtain good advice, great service and good quality products is beyond doubt.
For a profile of our MD Gary Yantin in City AM click here:http://www.cityam.com/business-features/legal-industry-shake-business-opportunity
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