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UK consumers lead Europe in smart shopping
UK shoppers have the lowest level of customer loyalty in Europe when it comes to price, nearly half that of those in Germany, with almost two-thirds switching retailers in a bid to save money, according to a global study by self-service provider NCR Corporation.
These savvy shoppers are increasingly turning to the internet to save money. However, over a third still wants to be able to look at the products in-store before making their purchase. This is almost on a par with the 41 per cent who go on to complete their transactions online.
Elton Birden, managing director at NCR, says: “The economic climate has made consumers far more likely to shop around across multiple channels. This makes it vitally important that retailers make it easy to assess, purchase and return goods both online and in-store. By bringing the digital experience in-store via interactive media, such as price checker touch-screens and self-service checkouts, retailers are increasingly offering customers an innovative and speedy service.”
Retailers are investing in technologies such as in-store kiosks, designed to provide expert guidance to customers choosing products ranging from electrical goods to wines. This is in addition to self-checkouts, which are more compact that regular tills, enabling many more till-points to be made available in-store. They help to reduce queuing as well as freeing up staff to improve service levels in-store, for example managing online orders and returns as well as improving on-shelf availability, in a cost-effective way.
As consumers now spend more time evaluating brands, 74 per cent of those who took part in the survey say they want to be able to complete their purchases more quickly. UK retailers have responded by investing in self-checkouts at the fastest rate since the technology was first introduced. About 15,000 will be in operation across UK stores in 2011, up from 7,000 last year, according to research by retail consultancy RBR.
“Self-service technologies are proving central to retailers’ business and growth strategy as we emerge out of the recession, helping them to attract and retain more customers. They not only improve the shopping experience for consumers but also help to increase retailers’ operational efficiencies,” says Birden.
Consumers presently use over 40,000 NCR ATMs in the UK to get quick and easy access to their cash, make deposits and manage their bank accounts. NCR expects other self-service solutions, such as self-checkouts, to become just as widespread and popular in retail over the next few years.
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