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.