Consumers, Especially Millennials, Long for Better In-Store Customer Service

February 16, 2017, Written By Bill Hardekopf
Consumers, Especially Millennials, Long for Better In-Store Customer Service

Retailers missed out on $150 billion in revenue during 2016 because they did not provide personalized shopping experiences, according to the newly-released TimeTrade Survey. Only 30% of respondents said they were able to find a sales associate when they needed assistance in stores.

Consumers said the most valuable component of their retail store experience was getting prompt service (47.3%), and personalized care was the next most important element at 26.2%. On average, consumers said they were willing to spend 4.7% more on a purchase if they received better customer service.

Millennials showed the biggest response to personalized care. 70% of them said they would be willing to pay more money, and nearly one in four (24%) said they would pay 20% more for an improved experience. When receiving help from an associate, 58% of Millennials said they were “extremely likely” to make a purchase.

Despite the massive online growth, in-store shopping is still a significant factor in America. 82% of survey participants said they do at least half their shopping in stores, and 70% plan to continue that pattern this year. Three out of four participants said they preferred shopping at a physical store, even if the item is available online. In a store, they can touch the item, view its size, feel how durable it is, etc. It reduces the risk of coming back for a return, and allows them to take home their products that day.

The information contained within this article was accurate as of February 16, 2017. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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