Shoppers Demand Higher Service Levels from Retail, SPAR Group Survey Reveals
12 Juin 2024 - 4:30PM
Business Wire
According to the latest SPAR Group (NASDAQ: SGRP) survey,
in-store shopping remains a fixture of most consumer’s routines,
with more than 80% preferring to purchase groceries in-store and
more than 45% choosing to shop in-store at discount, convenience,
home improvement and apparel stores. The ability to try on/demo
products, select new products and plan meals are important
motivators consumers give for shopping in-store. Once in the store,
consumers rate customer service (71%), a speedy checkout (69%) and
an engaging atmosphere (51%) as important attributes for a
successful shopping experience. The store plays an important role
in the product value chain and maintaining customer loyalty,
according to the survey.
“The SPAR Shopper Insights Survey tells us that while today’s
customer is demanding, there are a variety of opportunities for
retailers and brands to create value for them and build long-term
loyalty. Several storylines from the data conclude the need for
companies in the industry to be even more dedicated to engaging
shoppers at every point in the buying journey, improving inventory
management and service levels, especially within the store,” said
Mike Matacunas, CEO and president, SPAR Group.
Key Findings
- Seven in 10 shoppers expect to increase shopping in stores in
the next six months. This is in line with the most recent U.S.
consumer confidence statistics.
- Grocery stores are by far the most preferred in-store format
(83%) with discount, convenience and home improvement next.
- Once in stores, 55% of consumers say product availability (out
of stock, locked product) remains a challenge for stores.
- 43% of consumers indicated that not enough store staff is an
issue for the shopping experience.
- Approximately 76% of consumers use mobile applications while
shopping. 47% use the apps for price check and comparisons, 40% for
lookup and promotions, 35% to access or download promotions.
- Four in 10 say they allow their preferred retailer access to
data for a more personalized experience.
- Walmart ranks as the best shopping experience by 23% of
respondents, with consumers ages 25-54 having the strongest
positive perceptions.
- Females prefer Aldi compared to males who say Costco has a
better shopping experience.
- 58% of consumers find self-checkout helpful, with females
finding coupons and apps more helpful than males.
- 43% of consumers say stores do not have enough staffing and 55%
indicating product availability and locked product a negative.
- Consumers are expecting artificial intelligence (AI) to play a
role in product search, checkout and online ordering.
According to analysis of the research by SPAR Group, a provider
of merchandising, marketing and distribution services, retailers
and consumer brands need to 1) improve on shelf inventory
management, 2) optimize staffing to provide an engaging experience
and 3) invest in more tech to empower the consumer’s shopping
experience.
“The next generation of leaders in retail and consumer brands
will differentiate on service, both from an in-store and
application point of view. Operating a physical store must be
reinvented to provide value to today’s consumer. The physical
layout, the experience, staffing, product availability and
responsiveness need to work in concert,” said Matacunas.
SPAR Group provides services that transform the physical space,
merchandising presentation, and promotional fixtures while
providing syndicated resources that ensure in stock inventory and
perfect presentations to drive sales and consumer engagement. The
company works with some of the market’s most successful big box,
discount, convenience, grocery and specialty retailers and brands
for more than 50 years.
As an example, SPAR recently worked with a major consumer goods
company and a large retail partner to address their out-of-stock
issue that was leading to lost sales. SPAR determined that product
was in the stores, but replenishment was slow due to reduced
staffing.
To address the challenge, SPAR merchandisers deployed into
stores, visiting hundreds of targeted locations based on sales
needs. The merchandisers replenished shelves from backroom stock
across 13 categories, having an immediate positive impact on sales,
generating a significant ROI for the brand and boosting sales and
profit for their retail partner.
“Retailers and brands are drawing on our expertise to truly
engage shoppers throughout the marketing and merchandising process.
This is uniformly creating more customer loyalty and having a
positive impact on the bottom line,” said Matacunas.
Note to Editors: The complete survey results are
available. Please contact ron@rampr.com.
Methodology
During May 2024, SPAR Group fielded a survey through a
third-party research firm with more than 1,000 consumers between
the ages of 18 and 64. Respondents were screened to be the primary
or secondary shopper in their households.
About SPAR Group, Inc.
SPAR Group is an innovative services company offering
comprehensive merchandising, marketing and distribution solutions
to retailers and brands. We provide the resources and analytics
that improve brand experiences and transform retail spaces. We
offer a unique combination of scale and flexibility with a passion
for client results that separates us from the competition. For more
information, please visit the SPAR Group’s website at
http://www.sparinc.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240612556196/en/
Media Contact Ronald Margulis RAM Communications
908-272-3930 ron@rampr.com
Spar (NASDAQ:SGRP)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025
Spar (NASDAQ:SGRP)
Graphique Historique de l'Action
De Jan 2024 à Jan 2025