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Consumers are increasingly prioritizing convenience when it comes to purchases.
The overwhelming majority (83%) of consumers said convenience while shopping is more important to them now compared with five years ago, according to the latest issue of the Consumer View report released by the National Retail Federation. The report found that 97% of respondents have backed out of a purchase because it was inconvenient for them.
The popularity of delivery services such as Amazon Prime, Shipt or Instacart reinforce consumers’ willingness to pay – often at a premium – for convenience. Sixty-six percent of shoppers pay for at least one type of delivery service, and one-quarter say they pay for multiple delivery services, according to the study.
The report also found that how consumers are shopping and where they are in the purchase process can dictate how much convenience matters. For example, 38% said that for online shopping, convenience matters most during the beginning of the shopping experience when consumers are researching products and trying to determine which option is best for them.
Alternatively, 40% of in-store shoppers said checkout is when convenience is most important. Additionally, consumers prioritize convenience for certain types of purchases, specifically when it comes to everyday items such as groceries, personal care items and pet supplies.
Retailers have anticipated consumers’ needs in these areas by offering a variety of innovations such as buy online, pick up in-store and two-day shipping. These options can contribute to brand loyalty, as 93% say they are more likely to choose to shop at a specific retailer based on convenience.