E-commerce and mobile shopping continue to shake up the traditional, in-store experience for both associates and consumers. As a result, consumers are more comfortable than ever using mobile devices to enhance their shopping journeys and buy from a digital retailer if they can’t find the right products. These trends are highlighted in Zebra’s 2020 Shopper Study detailing that 75% of Millennials and 53% of Gen X leave the store without purchasing an item.
This statistic stems from retail friction such as slow checkout and stock-outs (i.e., out-of-stock items). To curb this phenomenon, retailers are searching for new solutions to improve operational efficiencies and boost shopper satisfaction.
Why Shoppers Abandon Purchases
Out-of-Stocks - This happens when on-shelf items are temporarily unavailable, and consumers are ready to buy. When they cannot instantly obtain their items, they either leave the store or search the competitor’s website for available stock.
Selection - Consumers enjoy having a wide variety of choices and will leave if the store does not offer their desired product assortments.
The Competitors - Consumers care about quality and choice but they also want the best price. Since most shoppers now carry a smart-phone, comparing prices with competitor’s (both online and in-store) is easy.
Pricing Discrepancy - This occurs when the retailer’s price on-shelf varies from the one listed on their website. Many shoppers conduct research prior to purchasing, and since price takes precedence, the study indicated about 25% of them will leave if shelf-tag prices differ from those found online.
Long Checkout Lines - Long lines and slow checkout plague both the consumer and the cashier. Many consumers now expect the seamless shopping experience they find offered online, and take those expectations with them to brick-and-mortar stores.
Checkout is Crucial
The Zebra results were echoed in a recent survey conducted by Forrester Consulting, indicating that long lines and poor checkout experiences are major contributors to low shopper satisfaction. In fact, 50% of shoppers rated their checkout experience as “very important.” Several consumers even choose to spend less or abandon their entire purchase to avoid long lines, and some don’t mind traveling down the street to the competitor to steer clear of this friction.
In an evolving shopping environment where instant gratification is prevalent, even the most loyal consumers are willing to go elsewhere for their products. However, improving scanning technology can drastically shift this trend by decreasing checkout times, increasing consumer satisfaction and providing an optimized shopping experience from start to finish.
See how Digimarc Barcode can create fast and easy checkout for consumers and cashiers.