NEW YORK — Shoppers want a fast and frictionless experience when they pay for their purchases, and retailers who deliver on those expectations can expect higher levels of customer satisfaction and an improved bottom line, according to a new analysis by Kantar.
“Even though the final moments of the in-store experience provide one of the most significant opportunities to drive awareness, engagement and conversion, there has been minimal innovation around the retail checkout experience beyond improvements to point-of-sale (POS) systems,” the Kantar report notes.
But 70% of customers say the checkout experience influences their perception of a store more than any other factor and about 79% of customers say a negative checkout experience makes them less likely to return, Kantar notes, citing a recent national study conducted by Popspots, one of the largest digital advertising networks in grocery.
And the stakes are getting higher, as growing competition from online stores means that customer satisfaction with the in-store experience is even more critical for brick-and-mortar retailers. Fortunately, retailers have tools they can leverage to deliver a better checkout experience.
Kantar Analytics recently performed a comprehensive analysis for a retail client to identify key drivers of customer satisfaction and how to operationally improve customer experiences. The study was conducted combining survey data, store-level operational data, customer transaction and behavior data across both satisfied and dissatisfied customers.
Among the solutions recommended was the use of predictive analytics-based store optimization solutions to estimate traffic and queue length to facilitate optimal lane scheduling and cashier staffing.
“Data-enabled processes can help retail stores capture and use customer transaction data and behavioral data in tandem to outline solutions and design a better checkout experience for the customer,” Kantar notes. “With ever-evolving customer behavior and the advancement in technology, retail is changing at an accelerated rate. Retailers need to integrate analytical insights with the latest tech innovations to offer a better customer experience.”
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