Post by raihanali123 on Jan 6, 2024 3:19:20 GMT -6
In 2020, Walmart welcomed a total of 265 million shoppers per week1. As of 2020, Walmart has 11,501 stores. 1 Small retailers with 50 or fewer employees make up 98.6% of all retail firms. 1 Furniture leads small retailers by industry with an average income of $40,000, followed by beer, wine and spirits at $39,000. 1 Small retail chains employ 39.8% of all retail employees. 1 The average monthly income for small retailers is $22,341. 1 The average gross margin for small retailers is 51%. 1 US SMBs process approximately 482 transactions per month. 1 Retail Sales and Customer Retention Employee Nearly half of retailers, or 49%, expect problems with hiring and retaining employees in the next year, a concern for 40% of brands. 2 The retail industry is known for high employee turnover, and this problem is only exacerbated by the ongoing pandemic.
It's not uncommon for employees at major retailers to express their dissatisfaction through strikes and layoffs, making improving the employee experience more important than ever. 2 The current job market in the US is Phone Number List at an all-time high, while employers in the UK are experiencing the biggest shortage of job candidates they have ever seen. In response, 39% of retailers are investing in improving the tools and technology their employees use in their daily work, and 40% plan to train store staff to better interact with customers, using technology to improve the in-store experience. 2 Meanwhile, 46% of brands are investing in improving the employee experience to better serve customers and ultimately improve customer retention. 2 To improve customer service, 44% of brands plan to increase the amount of time their employees interact with customers, and 47% plan to use customer feedback to improve products or customer experience over the next year.
2 It's no surprise that customer service plays an important role in driving sales: 58% of consumers say that superior customer service in the past influenced their purchasing decision, and 58% say they were influenced by the ability to easily contact customer service through their channel of choice. .2 _ In terms of customer preferences, 43% of consumers say they are likely to use live chat in the next year, and 50% want to watch product videos before purchasing. 2 Additionally, 50% of consumers say that personalization based on their interests and past purchases influenced their decision to purchase from a brand over the past year. 2 Overall, creating a better employee experience and using customer feedback to improve products and services are important strategies for brands and retailers looking to attract and retain customers in an ever-evolving retail landscape. 2 Statistical Data on Buyer Preferences in Retail Shoppers spend 69% of their discretionary income in store each month, but 40% of U.S. consumers have reduced retail spending overall since the pandemic. 1 Before the pandemic, in-store sampling had 3x the impact of other purchasing factors. 87% of shoppers said they would attend exclusive access to products or sales at brick-and-mortar stores. 1
It's not uncommon for employees at major retailers to express their dissatisfaction through strikes and layoffs, making improving the employee experience more important than ever. 2 The current job market in the US is Phone Number List at an all-time high, while employers in the UK are experiencing the biggest shortage of job candidates they have ever seen. In response, 39% of retailers are investing in improving the tools and technology their employees use in their daily work, and 40% plan to train store staff to better interact with customers, using technology to improve the in-store experience. 2 Meanwhile, 46% of brands are investing in improving the employee experience to better serve customers and ultimately improve customer retention. 2 To improve customer service, 44% of brands plan to increase the amount of time their employees interact with customers, and 47% plan to use customer feedback to improve products or customer experience over the next year.
2 It's no surprise that customer service plays an important role in driving sales: 58% of consumers say that superior customer service in the past influenced their purchasing decision, and 58% say they were influenced by the ability to easily contact customer service through their channel of choice. .2 _ In terms of customer preferences, 43% of consumers say they are likely to use live chat in the next year, and 50% want to watch product videos before purchasing. 2 Additionally, 50% of consumers say that personalization based on their interests and past purchases influenced their decision to purchase from a brand over the past year. 2 Overall, creating a better employee experience and using customer feedback to improve products and services are important strategies for brands and retailers looking to attract and retain customers in an ever-evolving retail landscape. 2 Statistical Data on Buyer Preferences in Retail Shoppers spend 69% of their discretionary income in store each month, but 40% of U.S. consumers have reduced retail spending overall since the pandemic. 1 Before the pandemic, in-store sampling had 3x the impact of other purchasing factors. 87% of shoppers said they would attend exclusive access to products or sales at brick-and-mortar stores. 1