How do consumers hear about new retailers — ones that are new to them, that is? For 45%, it’s from friends and families, according to The Retail Shopper’s Guide to Loyalty, a new study by Yes Marketing.
Yet 69% resist shopping with a retailer they have never bought from before because of negative feedback from family or friends. And 36% say they receive too many emails. Only 7% feel they don’t get enough marketing messages.
Yes Marketing surveyed over 1,000 retail shoppers.
It found that friends and family are not the only drivers of brand awareness and 8% are swayed by product review sites, while 8% are swayed by influencer recommendations and 4% by news sites.
For 47%, price is the most influential factor in deciding to buy from a new retailer. That is followed by quality (39%).
In terms of convenience, 40% rank shipping as the top criterion. Also, 24% specify proximity to a store.
"Building trust is key at the acquisition and retention stages of the shopper's journey," said Jim Sturm, CEO of Yes Marketing. He adds that "to win over skeptical customers, retailers must convince consumers that their products are valuable and that their brand is trustworthy, especially in industries like luxury goods, home furnishings and electronics where the price tag is higher and consumers purchase less frequently."