New Survey Finds $150 Billion In Missed Revenue Due To Retailers’ Lack Of Personalized Service
Innovative Retail Technologies
Retailers missed out on $150 billion in revenue in 2016 because they failed to provide shoppers with personalized service, according to a new survey by TimeTrade. Providing shoppers with better customer experience could increase revenue by at least 5 percent, while millennials say they would pay up to 20 percent more for better retail experiences.
Retailers: Personalize Shopping Or Leave Money On The Table
The word from TimeTrade’s State of Retail 2017 Survey showed not only did retailers miss out big from lack of personalization, but it’s the kind of thing that’s been going on for some time. Eighty-two percent of respondents in the State of Retail 2017 Survey had shopped in brick-and-mortar, but 49 percent had never had a personalized shopping experience.
Brick-and-Mortar Retailers Disappointing Consumers
Mobile Marketing & Technology
Disappointing shopping experiences are costing brick-and-mortar retailers serious money, according to the latest TimeTrade State of Retail 2017 survey of U.S. consumers. The survey suggest that U.S. retail stores left about $150 billion in potential revenue on the table in 2016 by failing to offer shoppers the personalized shopping experiences they want.
Retailers Can Improve Sales With Personalized Services
Candy & Snack TODAY
U.S. retailers missed out some $150 billion in potential revenue this past year by failing to offer personalized experiences that consumer demand, according to the State of Retail 2017 survey from TimeTrade Systems, Inc.
Disappointing Shopping Experiences Cost Retailers $150 Billion
Disappointing shopping experiences are costing brick-and-mortar retailers serious money, according to the latest TimeTrade State of Retail 2017 survey of U.S. consumers. In fact, the State of Retail 2017 survey results suggest that U.S. retail stores left about $150 billion in potential revenue on the table in 2016 by failing to offer shoppers personalized shopping experiences.
Retailers Missing Out On $150B
With connected devices allowing consumers to order anything they want or find any piece of information instantly, a culture of instant gratification has been created. As such, it should come as no surprise that TimeTrade’s State of Retail 2017 Survey found retailers are missing out on a large piece of the puzzle with lack of providing personalized experiences.
Study: Retailers leave money on table due to lack of personalized service
Chain Store Age
Disappointing shopping experiences are costing brick-and-mortar retailers serious money, according to the TimeTrade State of Retail 2017 survey report.
Poor Service Cost Retailers $150 Billion Last Year. Could Mobile Tech Stem the Loss?
Brick-and-mortar retailers are struggling to keep up with online stores, but they’d struggle far less if they could better deploy in-store technology, according to the TimeTrade State of Retail 2017 survey report.
Stores popular, but they need to do more, survey says
TimeTrade State of Retail 2017 says consumers are researching and browsing more online, but they still like to go to physical stores to touch the merchandise, get advice on purchases, and to take advantage of in-store purchases.
Distrust of large institutions makes this the year of the community bank
Even in today’s quick-fix world motivated by technology advancements, many bank customers still seek out old-fashioned customer service. Indeed, more than half of consumers prefer to interact with their bank in person, according to a report from TimeTrade.