(RTTNews) - A new survey has found that convenience is increasingly influencing the behavior of shoppers and playing a major role in shaping the retail industry's future.
The National Retail Federation or NRF said it surveyed consumers for the Winter 2020 Consumer View to understand the role played by convenience in the shopping decisions of consumers. The study conducted from October 2 to 29, 2019 surveyed 2,949 U.S. adults aged 18 or older.
It showed that customers are increasingly prioritizing convenience while making purchases and expect retailers to offer innovative ways to save them time and effort.
83 percent of consumers said convenience while shopping is more important now than five years ago.
The survey found that over nine in ten shoppers are likely to choose a retailer based on convenience. 97 percent of respondents said they backed out of a purchase as it was inconvenient for them.
More than one third of shoppers feel they have less free time now compared with five years ago. These shoppers are looking to retailers to help them save time and effort. 52 percent of shoppers said that half or more of their purchases are influenced by convenience.
According to the survey, new options offered by retailers such as buy online, pick up in store and two-day shipping can contribute to brand loyalty. 93 percent of shoppers said they are more likely to choose to shop at a specific retailer based on convenience.
The rising popularity of delivery services like Amazon Prime, Shipt or Instacart also prove that consumers are willing to paying a premium for convenience.
The study found that 66 percent of shoppers pay for at least one type of delivery service, while 25 percent pay for multiple delivery services.
Consumers prioritize convenience for certain types of purchases, specifically for everyday items such as groceries, personal care items and pet supplies.
38 percent of consumers said that for online shopping, convenience matters most during the beginning of their shopping experience while they research products. 40 percent of in-store shoppers said convenience is most important at checkout.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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