Building Trust to Know Your Consumer’s Preferences Is Key for Return Customers
A recent study surveyed consumers in the US and the UK about their shopping preferences. They were asked questions like, do you prefer shopping online or going to a physical store? They took it even further and asked the consumers if they felt that the retailers, both online and brick and mortar shops knew what types of products they are interested in.
This is where it gets tough. The consumer wants you to give them product suggestions that are relevant to their interests, but most consumers don't want their data used.
In this article, we will give you the stats on what the consumer wants out of their shopping experience.
Website or Brick and Mortar?
When asked which method they like best 83% of American and 77% of UK consumers would rather shop at a physical store versus a website. Millennials (ages 18 – 29) also prefer shopping in brick and mortar stores, but use their digital technology to find what they need and pay for it faster. This represents a major challenge for retails known as showrooming.
Customers expect the price of a product to be the same in the actual store as it is online. It angers people who research a product online and then decide to get it at the store because they want it that day, only to find out it costs more. Out of the Americans surveyed 55% of them say they expect the prices to be consistent between the store and online. The UK consumer stats are the same. Only about 25% American and 23% UK consumers said they would expect the online price to be cheaper. About 20% of both sets of consumers said they don't check to see if there is a price difference.
Do You Know What They Want?
About 42% of consumers feel that online stores know their product preferences while only 11% of consumers feel that the physical stores do. Approximately 66% percent of consumers feel that the shopping websites don't have a clue when it comes to the products they are interested in and 30% feel the same way about the brick and mortar shops. On that note, only about 25% of consumers say business should link online and brick and mortar browsing/purchasing data to improve the shopper's experience. Also, just over 60% of consumers don't want their data to be used.
In conclusion, despite the convenience of online shopping people still, prefer to physically go to the store. They want consistent prices between both avenues and they to want the retailer to be more in tune with their interests. But they are very afraid of their information being stolen or used in the wrong way. There is most likely a trust issue here. Retailers will have to find a way to gain the trust of their customers, most likely through better security technology in order for everyone to get what they want.
Queen of the Machine for Viral Solutions LLC
“If a brand genuinely wants to make a social contribution, it should start with who they are, not what they do. For only when a brand has defined itself and its core values can it identify causes or social responsibility initiatives that are in alignment with its authentic brand story.” ~ Simon Mainwaring