Brand loyalty is tumbling, as consumers prioritise speed, innovation and convenience when they shop.

The fall of the high street is a glaringly obvious bi-product of this disloyalty, with more and more shoppers moving to online for ease and speed.

Some Key facts:

  • 57% of consumers believe they are more digitally advanced than some retailers and commerce services
  • Six in ten say that if a retailer were more digitally innovative, they would be more likely to shop there
  • Almost nine in ten (88%) consumers believe speed of delivery is more important to them than the brand being ordered (78%)
  • 73% plan to spend more online in the near future
  • Nearly 6 in 10 (57%) say they can see the personal benefit of Programmatic Commerce – allowing technology to automatically purchase goods for them based on their set of product preferences – compared to 53% the year before
  • Almost a quarter (23%) of consumers are “digitally obsessed” and make almost all their purchases online – prioritising convenience and innovation over brands
  • 45% are currently using or likely to use Amazon Echo, Alexa or Google Home in the next 12 months; more popular than smart lighting, VR or smart fridges

With some of the UKs biggest names either closing stores or closing altogether the need for Digital and eCommerce surely must be at the centre of any retailer’s business plans.

As specialist recruiters we are seeing client’s digital models expanding, increasing into marketplaces and budgets most certainly incremented.

As a consumer I want to see the retail stores stay but a juxtaposition of stand-alone and online is the balance that must be seen.  The need for convenience is key, responding as a retailer to your consumers needs will augment their interest and spend, ergo there in remains the loyalty to the brand.

 

Interesting articles off the back of this;

https://www.theguardian.com/business/2018/jul/08/high-street-digital-economy-business-rates

http://www.ecommerceweek.co.uk/news/729/zara-opens-first-digital-store-in-london/

 

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