{"id":29457,"date":"2009-08-28T02:27:28","date_gmt":"2009-08-28T01:27:28","guid":{"rendered":"http:\/\/www.corporate-eye.com\/blog\/?p=29457"},"modified":"2009-08-28T02:27:28","modified_gmt":"2009-08-28T01:27:28","slug":"convenience-trumps-price-for-a-growing-group-of-consumers","status":"publish","type":"post","link":"https:\/\/www.corporate-eye.com\/main\/convenience-trumps-price-for-a-growing-group-of-consumers\/","title":{"rendered":"Convenience Trumps Price for a Growing Group of Consumers"},"content":{"rendered":"

\"convenience_store\"A new report<\/a> from The Integer Group<\/a> and M\/A\/R\/C Research<\/a> sheds new light on a growing shift in what’s most important to consumers these days.\u00a0 According to the study’s results, 28% of consumers surveyed in June 2009 admitted they are willing to pay more for products and to shop at stores that offer greater convenience, speed of service, and so on.\u00a0 That’s up from 23% in May 2009.\u00a0 While you might think that given the state of the economy, the opposite would be true, the report tells us there is a growing audience of consumers who are so busy that even during difficult financial times, they’ll pay more for convenience.<\/p>\n

The statistics make sense.\u00a0 Regardless of how tight consumers’ finances are, for many people, time constraints are far worse.\u00a0 With that in mind, one-stop-shopping stores are again becoming the focus of consumers’ sites.\u00a0 Speedy check out at retail locations, clean stores, and having the items consumers want are some of the top factors that make the 1,200 consumers surveyed in this study choose one store over another.<\/p>\n

However, don’t be completely misled by these results.\u00a0 60% of respondents still cite high price as being the reason why they opt not<\/em> to shop at certain stores.\u00a0 Interestingly though, stores not having what consumers need is nipping at the heels of high price with 59% of respondents citing that as a primary reason why they don’t shop at certain stores.<\/p>\n

So what does this survey teach us in terms of branding and marketing trends?\u00a0 First, there are opportunities to be leveraged in terms of luring consumers to your brands by making them convenient<\/em>.\u00a0 Think of how you can make your brand more convenient.\u00a0 Could you offer it through more convenient distribution points or in more convenient sizes?\u00a0 Can you speed up the purchase process?\u00a0 Can you tie in installation or other services that will save consumers time?\u00a0 Think out of the box and get creative!<\/p>\n

Second, the first thing everyone tries to do when times are tough is lower prices.\u00a0 Even if you aren’t the first brand to lower your price, soon your competitors will, and you’ll feel like you have to as well.\u00a0 Don’t be pressured into lowering prices unless doing so is truly the only way to keep your brand competitive.\u00a0 Instead of jumping to lower prices, consider other options.\u00a0 For example, think of how you can make the convenience opportunity work for your brand.\u00a0 According to this study, over 1 in 4 consumers are willing to pay more in exchange for added convenience.\u00a0 Become the convenient brand!<\/p>\n

Image: Flickr<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report from The Integer Group and M\/A\/R\/C Research sheds new light on a growing shift in what’s most important to consumers these days.\u00a0 According to the study’s results, 28% of consumers surveyed in June 2009 admitted they are willing to pay more for products and to shop at stores that offer greater convenience, […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[95],"tags":[104,310,100,733,110,139,5875],"class_list":{"0":"post-29457","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-brand","7":"tag-brand-message","8":"tag-brand-positioning","9":"tag-brand-strategy","10":"tag-brand-trends","11":"tag-corporate-branding","12":"tag-marketing-strategy","13":"tag-marketing-trends","14":"entry"},"yoast_head":"\nConvenience Trumps Price for a Growing Group of Consumers<\/title>\n<meta name=\"description\" content=\"New study shows people are willing to pay more in 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