Hitachi Consulting UK has released new research that reveals that individuals earning more than £100,000 per year will ‘always’ look for information online before they make a purchase – every single time.
In addition, 43 per cent of these same high earners reported that they think that the recommendations they receive from social media sites are ‘very important’ when choosing what to buy, compared with just 24 per cent of 18-24 year olds who share this view. A positive in-store experience was also considered to be especially important for this group, as 80 per cent revealed that ‘poor customer service’ would be enough to prompt them to leave a shop, even if they had the money to hand and the item that they wanted was in stock.
The survey of 1,000 UK consumers aged between 18 and 55+ was in support of Hitachi Consulting UK’s research into the ‘Shopping Particle’, the term used to describe the exact moment in every retail transaction when the customer makes the decision to buy a particular product, whether online or in-store, at a particular price and from a particular retailer.
The Hitachi Consulting UK study gauged consumers’ perceptions and preferences on many different aspects of the shopping experience, and uncovered a wealth of information related to customers’ buying behaviours. Its findings will help retailers to tap into the specific customer insight that they will need to drive sales, boost profits and increase customer retention.
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