Retail customer trends indicate that most consumers are willing to pay a little more in exchange for better service and higher quality products. Two recent reports found that shoppers are looking for better experiences and goods, rating these factors as more important than lower prices. 

In a recent study, Duke University's Fuqua School of Business discovered that shoppers were more concerned about product quality than getting the best deal on price, eMarketer reported. Of the survey respondents, 31.0 percent said quality was the most influential factor, compared to 16.8 percent who said low prices were their biggest concern. This marks a change from Duke's August 2013 study, where the number of shoppers concerned most with prices was nearly equal to those focusing on quality (22.7 and 21.0 percent, respectively).

Similarly, a retail customer intelligence report by SDL revealed that 60 percent of global consumers and 75 percent of shoppers in the U.S. will open their pocketbooks a bit wider for brands providing a positive customer experience. 

In their retail marketing strategies, merchants can use these insights to optimize their initiatives. For example, the SDL study recommended focusing on ways to enhance the customer experience.

This entry was posted by Retail Pro on Wednesday, March 12th, 2014 at 12:28 pm .