Millennials stick to a single retailer for each category
Valassis has published study findings which provide insights for retailers to better compete and drive repeat traffic both in-store and online.
Based on a survey of over 1,200 consumers, the "Building Loyalty with Dynamic Shoppers" findings reveal that loyalty is paramount in the current competitive retail climate. Specifically, 34% of all respondents - and 47% of millennials and 57% of millennial parents - have just one preferred retailer for each purchase category.
Shoppers reported that to earn their loyalty, it's critical for retailers to: safeguard and protect personal information (76%); reward them with personalized discounts or special offers (73%); and interact with them through their preferred communication channel (55%).
Additional best practices for retailers, based on study findings, include:
"The competitive retail climate has made it crucial for brands to differentiate and prove their value to customers," said Curtis Tingle, Chief Marketing Officer, Valassis. "There are a number of variables that impact a consumer's decision on where to shop. Discounts, offers, communication frequency, channel of engagement and more, all play a role in determining which brands become preferred retailers and reap the rewards of a loyal customer base."
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