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NRF study finds consumers emphasise more on convenience

21
Jan '20
Pic: Shutterstock
Pic: Shutterstock
Today’s consumers increasingly prioritise convenience during purchases and expect retailers to offer innovative ways to save them time and effort, according to the latest Consumer View report released by the US National Retail Federation (NRF), which said 83 per cent of consumers say convenience while shopping is more important now compared to five years ago.

“Time is a precious commodity for today’s consumers,” NRF vice president for research development and industry analysis Mark Mathews said in a statement.

“Shoppers are busier with commuting to work, dealing with family obligations or catching up on schoolwork, among other things. Naturally, convenience factors are playing a larger role in their shopping experience,” he added.

While consumers overwhelmingly opt for quality and price in purchasing decisions, convenience offers retailers a competitive advantage. The report found 97 per cent of respondents have backed out of a purchase because it was inconvenient for them.

Sixty six per cent of shoppers pay for at least one type of delivery service, and one-quarter say they pay for multiple delivery services.

The report also found that how consumers are shopping and where they are in the purchase process can dictate how much convenience matters. For example, 38 percent said that for online shopping, convenience matters most during the beginning of the shopping experience when consumers are researching products and trying to determine which option is best for them.

Alternatively, 40 per cent of in-store shoppers said checkout is when convenience is most important. Additionally, consumers prioritise convenience for certain types of purchases, specifically when it comes to everyday items such as groceries, personal care items and pet supplies.

Retailers have anticipated consumers’ needs in these areas by offering a variety of innovations such as buy online, pick up in store and two-day shipping. These options can contribute to brand loyalty, as 93 per cent say they are more likely to choose to shop at a specific retailer based on convenience.

Consumer View is a recurring report released by NRF that gauges consumer behaviour and shopping trends related to stores, online channels, customer loyalty, technology and other topics.

Using Toluna Analytics, the study surveyed 2,949 US adults from October 2 to 29.

Fibre2Fashion News Desk (DS)


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