You Think You Have Loyal Customers?
Retail Customer Experience recapped the results of a recent Market Track survey which concluded that the majority of U.S. shoppers are not loyal to the brands they shop. The study found that there are new trends when it comes to customer purchase decisions and a disconnect in industry perception on the part of retailers.
Shoppers are not loyal.80 percent of shoppers surveyed said they would switch stores or brands when offered a compelling promotion. This unforeseen risk is nearly double the percentage of shoppers willing to switch than retailers expected.
Shoppers are constantly comparing prices.78 percent actively participate in showrooming and 76 percent actively participate in webrooming.
Shoppers are heavily influenced by promotions.83 percent of those surveyed said they made an unplanned purchase based on a promotion they received, with 65 percent saying they made the purchase in store.
Shoppers are in control.They have more information at their disposal than ever before, and they are making use of all of it. Over 80 percent of shoppers say they utilize more than one promotional media type to make purchase decisions, with print and websites being the most frequently used promotional vehicles. What can we learn from the study?
- Just because customer have shopped with you in the past it doesn't mean that they are your customer forever.
- If customers are showrooming or webrooming, you better have your website ready to impress.
- Your customers respond to promotions, so make sure you are promoting better than your competitors.
- Print promotions work, use direct mail when you want exceptional results for your sale.