New Research Reveals Long Lines and Slow Checkout Damages Shopper Satisfaction, Reduces Revenue
BEAVERTON, Ore., Aug. 14, 2018 /PRNewswire/ — Digimarc Corporation (NASDAQ: DMRC), inventor of the Intuitive Computing Platform (ICP™) featuring Digimarc Barcode, announced findings from a commissioned survey conducted by Forrester Consulting on behalf of Digimarc, revealing that long lines and poor checkout experiences reduce shopper morale, and are significant reasons for why consumers would shop elsewhere or shift to buying groceries online.
The survey of 1,000 U.S. consumers found that both the length of checkout lines and overall checkout experience are among the areas with the lowest customer satisfaction. According to the survey, 84 percent of shoppers said the checkout experience was important or very important, falling closely behind only location and price as criteria for deciding where to shop. In addition, 39 percent of shoppers have left a store without making a purchase because of long lines, and 56 percent are likely to change stores if the primary difference was better checkout.
Among the key findings from the Forrester study:
- Line length and the checkout experience has become as important as price in determining customer satisfaction and where they choose to shop
- Despite the importance that shoppers place on line length and the checkout experience, retailers may not be delivering a satisfactory experience
- Slow checkout experiences clearly hurt, not only customer satisfaction, but also have a detrimental impact on retailers’ revenue as shoppers buy less or abandon trips
«The research shows that slow checkout frustrates today’s shoppers who value their time as much as they do their wallet,» said Heidi Dethloff, vice president of marketing, Digimarc. «Retailers put effort and expense into pricing promotions for consumers focused on value, but they may be underestimating the true cost of slow checkout in terms of lost business revenue and diminished loyalty.»
Forrester forecasts that over the next five years, online grocery shopping will nearly double, going from $185 million in 2018 to $334 million in 2022.* To compete with the speed and convenience of online shopping, retailers must make the in-store experience better, and consumers surveyed say that means faster checkout among other amenities.
Forrester also conducted interviews with retail professionals as part of the study, revealing that some grocers may be reluctant or unable to hire more cashiers or expand the total number of checkout lanes at the front end. This reluctance was due to the increased capital expenditure and labor shortages.
Digimarc Barcode offers retailers a solution to the challenges of long lines and slow checkout, along with additional benefits throughout the entire store and the supply chain. Digimarc Barcode is an advanced, imperceptible code added to product packaging, retail labels, point-of-purchase (POP) displays and print material. It is reliably and efficiently scanned by consumer phones, associate mobile devices and retail barcode scanners. Retailers and consumer packaged goods manufacturers benefit from easier checkout, improved consumer engagement and supply chain efficiencies.
Download the free study and also register for a live webinar on Sept. 13, detailing the study results, and demonstrating how retailers can implement technology solutions to improve the customer experience.
*Source: «The State Of Global Online Grocery Retail, 2018,» Forrester Research, Inc., March 20, 2018
Digimarc Corporation (NASDAQ: DMRC) is a pioneer in the automatic identification of everyday objects such as product packaging and virtually any media, including print, images, and audio. Based on the patented Intuitive Computing Platform (ICP™), Digimarc provides innovative and comprehensive automatic recognition technologies to simplify search, and transform information discovery through unparalleled reliability, efficiency and security. Digimarc has a global patent portfolio, which includes over 1,100 granted and pending patents. These innovations include state-of-the-art identification technology, Digimarc Barcode, as well as Digimarc Discover® software for barcode scanning and more. Digimarc is based in Beaverton, Oregon, with technologies deployed by major retailers and consumer brands, central banks, U.S. states, film companies and professional sports franchises, among others. Visit digimarc.com and follow us @digimarc to learn more about The Barcode of Everything™.
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SOURCE Digimarc Corporation