The cost of convenience

Experience is key

A new report by 451 Research commissioned by Adyen shows that experience — not price — is what compels people to shop more.

The survey of more than 1,000 US shoppers identified a new large group, Spendsetters, who embrace technology and demand fast, easy, frictionless shopping experiences.

Failing to deliver a convenient shopping experience has a huge impact on revenue. US retailers lose $37.7 billion each year due to long lines in stores.

Other key findings:

• Retailers lost $1.1 billion in potential sales by not offering customers’ preferred payment methods

• 65% of Spendsetters would shop more if they could check an item’s availability beforehand

• 75% of Spendsetters say a “just walk out” payment experience would encourage them to shop more

The study also addresses the gap between what retail executives believe about their customers and what those customers say they want and need.

Download the infographic or fill out the form to get the full report.