A recent study among 4000 retail shoppers shows that 60% of them would be willing to pay more for a superior customer experience. That is an amazing number and one that brick-and-mortar retailers should think about carefully. Mark Lancaster, CEO of SDL (the study author) states that, “The holiday shopping season is a critical time for brands to provide a positive customer experience. Our study shows that consumers’ preferences and behaviors can shift considerably from year to year, from country to country. Organizations that are able to consistently deliver compelling and engaging experiences, across media and geographies, are those that are poised to be successful this holiday season.”
Some key takeaways from the study are excerpted below. First, online shopping is not for everyone. The late shoppers and the busy ones will shop more online due to convenience, but the holiday experience is not the same online as in store. And this is why retailers have to invest in the spirit of the holidays and in the customer experience. Second, pricing is important and retailers have to make sure that a bad pricing experience does not ruin the overall shopping experience. Price intelligence solutions can help avoid such scenarios. Lastly, make sure that what shoppers have on their shopping list during the holidays is in your store! It is all about predicting the shopping trends and being quick to adapt to make sure your retail store is full of the right things. If they visit the brick-and-mortar store and find what they need at the right price, they will buy. Happy Holidays!