A new report says consumer loyalty to retailers is eroding. Kibo’s 2016 Consumer Trends Report said consumers now expect digital services as standard, and if they can’t get it, they’ll jump ship.
“Most consumers have their preferred places to shop, yet, retailers’ lack of progression toward offering a true omnichannel experience can erode their customers’ loyalty. As such, the only option left open to many consumers is a move to the closest competitor who will,” according to the report.
The study of 3,000 consumers in the U.S. and U.K. found that more than half of U.S. (54%) and U.K. (56%) shoppers are willing to jump ship to a rival retailer if their preferred method of delivery isn’t available, for example.
- Nearly a quarter of Americans and a third of Brits expect short delivery times (two days or less).
- Four-in-ten (43%) of U.S., and more than a third (37%) of U.K., consumers would prefer to use in-store pickup (click-and-collect) if the option were available.
- Nearly one-third (29% in both countries) will not buy from retailers unable to offer in-store pick-up or extended payment options (28% U.K.; 31% U.S.).
Kibo CEO Kenneth Frank said embracing modern technologies is especially crucial for retailers and manufacturers looking to compete with the likes of Amazon and other Internet giants.
The Digitally Demanding Consumer: 2016 Consumer Trends Report can be downloaded on the KiboCommerce.com website.