A new study from Shell finds that for a significant segment of the population, convenience is paramount when making purchases. The subgroup, identified as “Convenience Cravers”, could help boost retailer’s revenues if targeted. Conversely, retailers could lose out if they ignore this group and its demands.
The study surveyed 1,000 Canadians over the age of 18, finding that 18% of respondents ranked convenient and personalized retail experiences as a "must-have, non-negotiable part of the retail experience". Convenience Cravers are most likely to be males between the ages of 25 and 44 with a higher-than-average disposable income, working more than 40 hours per week. Above all else, these shoppers said that they’re looking for retailers that offer:
- Quality interaction — that is, a humanized customer experience;
- Efficient payment, including a variety of options to speed up check-out;
- Digital details, including a place where they can go to review a business and compare its products to other retailers online; and
- Great partnerships — that is, a place that carries more of what they need, so they have to make fewer stops.
The study goes on to note that for retailers looking to entice this group to spend more in-store, retailers should first focus on humanizing the customer service experience, while also expediting the checkout process. The Shell study further notes that:
- 14% of Convenience Cravers said that good customer service that led to a convenient experience would drive them to spend more, and
- 21% of Convenience Cravers said they would be prepared to pay more to check out faster – with a remarkable 38% willing to pay up to 5% more on top of their purchase for speedy service.
The Shell study also found that retailers not meeting Convenience Cravers’ growing expectations will pay the price. Some respondents saying that they’d switch brands/retailers over an ‘inconvenient experience’, and across four retail segments (fuel, convenience, fashion and technology), Convenience Cravers said:
Four in 10 Convenience Cravers would share a bad retail experience, according to the study, amplifying its negative impact. Furthermore, a substantial 61% of members of this group would lose trust in a brand after an inconvenient experience, according to the study. That loss of trust means that Convenience Cravers would consider switching to another brand, with a startling 13% of Convenience Cravers saying that they would walk away from a brand forever after an inconvenient experience.
The infographic above visualizes the Shell Canada study’s findings, which should be of interest to many Canadian retailers.
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