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IRUK Top500 The Customer Report: 2018

IRUK Top500 The Customer Report: 2018

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'I want it now' generation more likely to shop in store

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Younger shoppers are the most likely to buy goods and services in a store. Even though the 25-34 age group is well-versed in internet retail, this group is also the most likely to go into the shop – to get products as soon as possible.

That’s one of the findings of global information company Experian’s research into consumer shopping preferences.

Nigel Wilson, managing director, marketing information services at Experian, said: “Younger UK consumers will engage with offline and online channels not only to get the best price, but also get their hands on the products as quickly as possible after purchase. After researching items and price comparisons on the internet, they will then purchase from the high street rather than wait for delivery. This really emphasises the rise of the ‘I want it now generation’, who use a cross-channel approach to optimise their purchasing experience.”

The research also found that those aged between 15 and 24 were more likely to respond to direct mail than their parents, generally to be found in the 46-65 group. Meanwhile, retired professionals and rural residents were more likely to respond to face-to-face engagement when making a purchasing decision.

Wilson said: “The research suggests older groups tend to be far more comfortable making a purchase based on face-to-face engagement. Retailers should note that while these shoppers are further away from the high street they will look to make their trip to town count.”

Experian says the research demonstrates the need for marketers to engage with customers through a cross-channel marketing strategy, since many are likely to use a mixture of online and offline resources to make purchasing decisions.

The research also came in the week that Experian announced the launch of Identity IQ, an identity verification tool aimed at helping businesses authenticate customers in transactions such as online purchases. Identity IQ provides electronic verification and security by asking customers a range of randomly generated questions to which only the genuine customer should know the answer.

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