Consumer Research: How Retailers Win Customer Loyalty in an Omnichannel World
Retailers already know the importance of optimizing inventory. Yet almost one in three customers still report stockouts when utilizing click-and-collect or BOPIS.
With customer loyalty waning – and inflation only adding to concerns – how does inventory impact consumer loyalty?
And how can you leverage the supply chain and inventory management for a competitive advantage?
To help retailers understand the factors that drive purchase decisions and customer loyalty, ToolsGroup and retail advisory firm IHL Group surveyed hundreds of U.S. consumers regarding their trust in retailers, reasons for shopping online or in-store, and what drives impulse purchases.
The fact is, when shopping in-store and facing stockouts, 21% of shoppers will leave and buy from a competitor’s store.
Findings also demonstrated that, across sectors, the percentage of consumers losing trust in retailer stock availability ranges from 28-36%.
The report illustrates ways retailers can get customers back in-store and counter a staggering $1.9 trillion in annual losses due to inventory distortion by improving their stock position.
“The survey results show that, while retailers have multiple inventory distortion challenges, there are many ways they can begin to reclaim market share,” observed IHL President Greg Buzek. “Despite ongoing and protracted supply, labor, and industry disruption, the smartest retailers are doubling down on the improvements necessary to create differentiation and revenue growth.”
Get the full report now for additional insights on today’s omnichannel shoppers, and actionable ways you can utilize inventory to uncover your competitive edge.
Takeaways you’ll get from this exclusive consumer research include:
- How customer trust in retailers has changed over the past two years, detailed by sector
- Consumer reasons for shopping online or in-store
- How retailers can boost working capital through in-store purchases
- Opportunities for increased revenue from Amazon Prime members
- Steps brands can take to win the future of retail
