Convenience is fundamental to UK shoppers, reveals recent research from Oracle. The UK country results of Oracle's 2015 consumer research report Retail Without Limits – A Modern Commercial Society reveal that UK consumers are often ahead of their global counterparts in the demands they place on retailers. UK consumers are driven by technology, and more self-sufficient than the global average.
The research shows that UK shoppers want retailers to understand their shopping behaviour and use this information to adapt their engagement strategies in order to deliver more positive interactions and outcomes.
Findings, based on responses from 500 UK participants, reveal shoppers are private, value-conscious and service-oriented. They are keen users of online and mobile technology and easily frustrated by poor functionality or disjointed commerce experiences, particularly in relation to availability and access. Their loyalty is influenced by convenience and value, but not familiarity.
The UK results support Oracle's view in the global consumer report Retail Without Limits – A Modern Commercial Society: convenience, driven by technology has become today's 'invisible hand', driving a borderless and limitless retail market. Results from the UK research challenge retailers to capitalise on these findings and the associated changes by following three simple principles: learn, adapt and execute.
"To win the trust of UK shoppers and influence share of spend, retailers must enable consumers to shop as, when and how they please: that is, privately, conveniently and connected from web to store," said Jill Puleri, senior vice president and general manager, Oracle Retail.
The UK research reveals the following:
UK consumers are self-sufficient and private: 35 percent of respondents have reservations with retailers gaining access to information on their shopping habits and prefer not to engage with an associate in-store, while 34 percent want to use self-service to enhance their shopping experiences.
UK consumers are value-conscious: 56 percent of respondents reveal that value is most important aspect of the shopping process, listing price as the primary reason for influencing loyalty (82 percent), naming their favourite retailer (60 percent) and making a purchase with an offshore retailer (64 percent).
UK consumers are frustrated by poor service: Growing use of multiple technologies to shop means UK shoppers are particularly disappointed by lack of website functionality (39 percent), poor availability (51 percent) and poor delivery choices (42 percent). 61 percent affirm that accurate information on product availability and location enhances their shopping experiences and 39 percent are incentivised to purchase a product promoted via video.
UK consumers say convenience influences loyalty: 41 percent of respondents say their loyalty is influenced by a convenient shopping experience across channels, while 49 percent will buy from a new brand simply because they can deliver the product wanted, when required.
UK consumers want converged commerce: 80 percent of respondents feel it is important for retailers to continue to invest in technologies to improve their shopping experience, with 58 percent saying their use of technology to shop has changed over the last year and 59 percent wanting more click and collect facilities. While 63 percent of consumers shop in store once a week, growing numbers (33 percent) also shop online in that same period.
Oracle commissioned the Retail Without Limits – A Modern Commercial Society study with Redshift Research in January 2015. Results of the global survey involving 5,000 respondents from ten countries using an online consumer panel, were announced in March 2015.