Do shoppers go online to get the best prices, or because it’s convenient? Convenience wins out in a new Cognizant study, released today, which suggests that shoppers will pay a little more for a better shopping experience or improved convenience. More specifically, shoppers said they were looking for after-sales service and support. Some 25% said they would opt for a good returns policy over price, while 26% of those who have used click and collect complain they have had to wait too long in-store before their items are ready.
Steven Skinner, senior vice-president of retail and consumer goods consulting at Cognizant, said: “Today’s shoppers – who use the online, mobile and in-store options available to them –know the price they are willing to pay, and the level of service they expect to receive in return. They are adept at researching products, comparing prices and exploring delivery options. They know what they want.”
Cognizant’s third annual UK Shopper Experience Study questioned 1,000 UK shoppers, as part of a six country study involving 6,000 respondents. It also found that shoppers said brand loyalty was important to them. Some 16% were happy to pay more with a retailer they rated, while 32% said they were more likely to buy in a shop where they would get loyalty points – even if they can buy the products cheaper elsewhere. Some 85% of UK shoppers are members of at least one loyalty programme, while 32% are members of between three and five.
It also found that showrooming was now ubiquitous, with 49% of UK shoppers reporting they check competitors’ prices on their smartphone when they are in a shop.
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