Daily Data Dive: Retailers Missing Out on $150B | PYMNTS.com

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In today’s fast-paced world, it’s not enough to provide friendly service to customers in store. With connected devices allowing consumers to order anything they desire or find out any piece of information instantly, an instant gratification culture has been created.

As such, it should come as no surprise that TimeTrade‘s State of Retail 2017 Survey found retailers are missing out on a large piece of the puzzle with lack of providing personalized experiences.

Here are the numbers:

$150 billion | Amount retailers are missing out on due to lack of personalized experiences

4.7 percent | Percentage of consumers who would increase in-store shopping if personalized experiences were provided

49 percent | Amount onsumers that never receive personalized experiences

70 percent | Amount of consumers never approached by any sales staff

71 percent | Amount of consumers who leave dressing rooms that have no assistance

88 percent | Amount of consumers more likely to purchase if assisted by employees

82 percent | Amount of consumers who say they still do half of their shopping in physical stores

70 percent | Amount of consumers who plan to shop in stores in 2017

14 percent | Amount of consumers planning to increase in-store shopping in 2017

75 percent | Amount of consumers who prefer to buy at physical stores

64 percent | Amount of consumers who make appointments with physical stores

89 percent | Amount of millennials who plan to shop in stores in 2017

29 percent | Amount of millennials who start shopping online and move to in-store purchases

58 percent | Amount of millennials willing to make a purchase if helped by an in-store associate

70 percent | Amount of millennials willing to pay more in stores for a more personalized experience

45 percent | Amount of millennials who would enjoy shopping with a personal assistant

31 percent | Amount of millennials who would enjoy shopping more with beacon technologies

29 percent | Amount of millennials who would enjoy shopping  more with organized systems with wait display signs

75 percent | Respondents who agree stores provide good service

38 percent | Respondents who agree the web provides good service

31 percent | Respondents who agree email provides good service

26 percent | Respondents who agree call centers provide good service

24 percent | Respondents who agree social media provides good service

21 percent | Respondents who agree text provides good service

14 percent | Respondents who agree kiosks provide good service