How can I avoid losing customers at the point of purchase in stores?

Many retailers struggle when identifying how to convince customers to complete a purchase. Hitachi Consulting UK director of retail Chris Gates believes retailers can use data available to influence customers the moment they enter the conversion funnel.

He says: “Customers are looking for more informed purchasing experiences.” He adds a Hitachi survey of 1,000 consumers showed 90% regularly research products online prior to buying them, and 60% of smartphone customers research products in store, with this figure rising to 89% for men under 35. By having information on consumers’ preferences available, retailers can create personalised shopping journeys designed to provide information that informs final purchasing decisions.

Retailers also need to develop experiences that meet customers’ demands when they enter the store. The survey highlighted that 86% of customers will walk out of a store if a product is not in stock or if customer service is poor. In addition, half of customers will leave a store due to a previous bad experience with the brand and almost one in four will abandon purchases if the checkout process is too slow.

Improving the in-store experience is therefore key to minimising the risk of losing purchases. More than half of all customers want to receive personalised offers, and younger female shoppers especially want technologies that save time, such as self-checkouts, or contactless payment, which 22% of shoppers in London have already used.