1/7/2014 - Survey: Sales events bring greater loyalty
It's in retailers' best interest to offer discounts on frequently purchased items, not only because it benefits the consumer, but also because businesses reap financial rewards down the line.
That's the latest conclusion from global technology startup Synqera. The firm recently conducted a survey, charting what factors led to shoppers remaining true to one specific retailer versus another. After polling more than 1,000 online respondents, it found that close to 90% of those questioned said that when businesses offered discounts on merchandise that they bought regularly, they inevitably wound up remaining loyal to that business by shopping there consistently.
Additionally, advertising these sales events were strategies that respondents appreciated. More than 96% of those polled said that they like to receive some type of information about the stores they frequent, be them circulars or catalogs. The Synqera survey also revealed that four in every five consumers were more likely to go back to that retailer after shopping there for a sales event that they learned about from marketing material.
"We know there's an appetite for customer engagement and retention through clear communication of promotions and sales both prior to the visit and throughout the in-store experience," said Filipp Shubin, chief operating officer for the New York-based retail technology company. "Consumers are still immersed in the brand experience while at the checkout desk and are ready to receive more information that's relevant to them."
A trusted fallback of how to keep customers coming back again and again is through customer service. In a separate analysis performed by price comparison and ecommerce firm PriceGrabber, more than 70% of those surveyed said that their loyalty was heavily hinged on how they were treated when they shopped there. This may include what services were rendered after a freak accident - a liability issue that is traditionally covered by businessowners insurance.