Adding Consumer Value and Brand Loyalty With Wi-Fi
This holiday season will be especially challenging for both brick-and-mortar retailers and online marketplaces, especially as they compete with each other for the same consumer dollars.
Many retailers believe the best way to entice consumers is to drop prices, creating an endless race to the bottom. However, driving customer loyalty isn't exclusively about price; it's about value and offering an integrated customer experience. Creating the perfect integrated customer experience can be achieved by offering in-store Wi-Fi, according to a study recently commissioned by the Wi-Fi Alliance and Wakefield Research.
In fact, 48 percent of consumers said they're more likely to shop at a store that gives them access to a wireless internet connection. The data also found that nearly a third of consumers would stay in the store longer. Most importantly, 16 percent of consumers said they would spend more money if a store had Wi-Fi available.
The data also found that 35 percent of consumers use their mobile device to look up a product review while shopping, and that one in three have abandoned a purchase because they couldn't complete their research in-store. Consumers are abandoning their purchases because of a poor internet connection, and retailers are losing profit as a result.
For consumers, Wi-Fi gives them the best of both worlds, enabling them to peruse the internet, read reviews of products and validate their in-store decisions. Assuming that the cost difference is minimal, it's safe to bet that given the choice between purchasing a product immediately or waiting for it to be shipped, most shoppers will choose the former.
For retailers, Wi-Fi offers a trifecta of benefits: more traffic, longer face time with shoppers and a larger spend per person. For businesses looking to reclaim market share this holiday season, Wi-Fi offers a cost-effective differentiator.