16 Nov 2021
Press Coverage - Business Mondays: Mind The Knowledge Gap - Retailers Miss Out On £15bn Per Year Due To Poor Advice Instore
Brands across some of the top retail categories potentially missed out on close to £15bn in instore revenue in the past year, due to poor in person advice. The finding comes from new research commissioned by field marketing and retail experience agency, Gekko. The study of 2,000 consumers, conducted by OnePoll, looked at what influences shoppers in making a ‘considered purchase’ – purchases that are made with significant financial or emotional thought.
The research revealed 1 in 10 shoppers said they had walked out of a shop due to poor advice relating to a considered purchase they were definitely going to make. This equates to some £15bn in revenue overall over the past year, according to figures Statista.
The experiences vary across categories and age groups. Gekko surveyed experiences across several key retail categories including: Consumer electronics, homeware, baby & child, gaming, home improvement, clothing & apparel. Overall 59.8% said they had received ‘excellent or good advice in store’, highlighting the benefit of human interaction and face to face sales.
To read the full article please visit Business Mondays