Customer shopping behavior is certainly driven by price. But a new study found that, to sustain long-term customer loyalty, retailers often find value in focusing on the customer experience.
In its examination of 27 elements of the shopping experience, Synchrony Financial identified the top four experiences that are most valued by the customer, which can be used by retailers to influence greater spend and loyalty from consumers.
The firm’s recently released 2015 Customer Experience and Impact Study garnered responses from more than 1,000 consumers around the country and focused on apparel, department store, and mass merchant retailers. More than half of shoppers said they would pay a higher price for a product if it meant a better customer experience, and 77 percent said they’d be more loyal to stores that provide their personal top-three customer experiences.