Boston, MA, September 4, 2014 — Retailers are constantly looking to reinvent the buying experience and create the store of the future, so TimeTrade asked more than 1,000 consumers about their relationships with retail brands – what’s working, what’s not and most importantly, how retailers can improve.
“There’s a lot of talk about the need for massive transformation in retail, but small changes can pay off big for brands,” said Gary Ambrosino, CEO and president of TimeTrade. “When retailers are agile enough to make fast fixes, they build instant credibility – and trust – with shoppers while paving the way for long-lasting success and sales.”
The survey revealed two ways that retailers can get more shoppers through store doors and back out with more purchases in hand, eager to return again.
1. Deliver exactly what ready-to-buy shoppers need in store. That starts before they even step foot in a store; retailers need to entice consumers, yet 95% of consumers surveyed receive irrelevant retail offers. After a bad experience with a sales rep, more than 20% of consumers leave the store without purchasing anything, and another 20% said they’d never return. Luckily, shoppers don’t have unrealistic expectations; they just want fast, smart guidance to make a final purchase decision. And when they get that help, 93% are more likely to buy.
2. Uncover the blind spots leaving retailers in the dark. What happens on the store floor is often a black hole in retail intelligence. When consumers have bad experiences, nearly 70% of shoppers won’t tell a manager, so retailers don’t know why they are losing sales and can’t react in real-time to fix the problems. However, consumers are ready to help crack the code. More than 80% of respondents are willing to fill out email surveys, so retailers can get it right.
“Skeptical, jaded consumers are ready to be impressed with standout shopping experiences that are too often few and far between today. The first step for retailers: getting the insights they need about their customers, at every stage of the buying cycle,” said Ambrosino.
Get three more tips and the full consumer survey findings today.
The world’s most well-respected brands in retail, banking, and industries worldwide use TimeTrade to deliver on their brand promise of a truly personalized customer experience. By putting customers at the core, TimeTrade customers have increased sales, dramatically improved customer loyalty, and streamlined their operations.
More than 100 million connections have been made between consumers and businesses using TimeTrade’s scalable Customer Engagement Platform, directly translating into more than $2 billion in commerce every year.