A changing economy and advances in technology have made modern consumers more cost conscious than ever. The ability to price check a store against their competitors instantly using smartphones means that retailers must adjust their strategies in order to remain relevant.
Contrary to retail industry perception, 80% of shoppers say that they would be willing to switch brands or stores because of a promotion, according to a recent study. A similar percentage of customers have left stores without buying anything in the past twelve months.
One way to adapt to the modern environment is to focus on influencing unplanned purchases. Shoppers say that promotions account for 83% of unplanned purchases and that 65% of unplanned purchases were made in store. 67% of shoppers also believe that they can find the best deals online.
To learn more about changing customer habits and how to adapt to the modern environment, check out this infographic from MarketTrack.