3 October 2016 - Janet Bird
Poor delivery options for online purchases are putting off customers and costing high street retailers billions each year, new research has shown.
The 'Untapped Goldmine' report, published by on-demand delivery service Stuart, revealed that 63 percent of the 1,020 consumers surveyed have abandoned an online purchase due to poor delivery options.
Eight out of ten respondents were also willing to switch from their favourite high street retailer if it didn't offer the delivery option they wanted.
When it comes to delivery options, 39 percent of those surveyed said convenience was the most important factor, far outweighing price, which was deemed most critical by only 23 percent of respondents.
Thirty-two percent of consumers questioned said they always choose a high street retailer that offers same day delivery over one that doesn't. And a whopping 72 percent said they would spend an average of £168 a year more with their favourite retailer if they offered same day delivery which, if extrapolated out across the population, suggests retailers could be missing out on £4.9 billion in revenue by failing to offer customers the delivery options they want.
Sixty-two percent of respondents said they would be happy to pay a premium for same day delivery, while ten percent were willing to pay £11 or more for one-hour delivery.
Stuart said the findings highlight a growing need on the part of retailers to prioritise convenient delivery to ensure customer loyalty.