Daymon is out with a new report, “The State of the Store Experience,” in which it argues that “55 percent of shoppers said they would no longer visit a store where they experience repeated service issues – and 45 percent would not return due to navigation difficulties.”
To help retailers address these challenges, Daymon says that it “used direct consumer feedback to identify 31 distinct attributes of the shopping journey that offer opportunities to create an ownable experience,” with private label defined as a key differential advantage.
Among the findings:
• “28% of best-in-class Private Brand programs are value-added. Retailers that go beyond ‘me-too’ products and services have a reputation for differentiation.”
• “Store navigation frustrations lead to 45% attrition. Lean on your Private Brands not merely as products, but as the authority on helping shoppers identify what’s right for them.”
• “Even the best retail strategy can be undermined by something as basic as out-of-stocks. In fact, Daymon finds that $1.4-$2.4 million per week is lost at an average retailer due to promotional out-of-stocks.”
The entire report can be found here.
To help retailers address these challenges, Daymon says that it “used direct consumer feedback to identify 31 distinct attributes of the shopping journey that offer opportunities to create an ownable experience,” with private label defined as a key differential advantage.
Among the findings:
• “28% of best-in-class Private Brand programs are value-added. Retailers that go beyond ‘me-too’ products and services have a reputation for differentiation.”
• “Store navigation frustrations lead to 45% attrition. Lean on your Private Brands not merely as products, but as the authority on helping shoppers identify what’s right for them.”
• “Even the best retail strategy can be undermined by something as basic as out-of-stocks. In fact, Daymon finds that $1.4-$2.4 million per week is lost at an average retailer due to promotional out-of-stocks.”
The entire report can be found here.
- KC's View:
