Consumers in the UK are spending 5.77 billion euros less with their favorite high street retailers online than they would have if there were more delivery options. If same-day delivery was a possible option, 72 percent of consumers would shop more, spending an average of 198 euros extra each year.
This is according to research [pdf] from Stuart, an on-demand delivery platform that just launched in the United Kingdom. The report shows that for 39 percent of consumers convenience is the most important factor when it comes to delivery, while for 23 percent price was the top factor. As a result, almost two-thirds of British consumers have left their shopping cart after they found out they didn’t like the delivery options.
79% would switch from retailer due to delivery method
One in three consumers choose a high street retailer that offers same-day delivery over one that doesn’t. And almost eight in ten would switch from retailer if it didn’t offer their preferred delivery method. “The findings highlight a growing need to address convenience in the last mile of the customer journey: delivery”, David Saenz, managing director UK at Stuart, said.
The report also shows that almost two-thirds of consumers is willing to pay a premium to get their goods delivery the same day they ordered them. This offers a potential extra 110 million euros in revenue from deliveries alone.
‘Prompt delivery will be mainstream by 2021’
“Too often convenient delivery is being considered a ‘nice to have’, not a necessity, by high street brands”, Saenz commented. “In five years’ time, instantaneous delivery and returns will be mainstream. The retailers who invest in this now will not only be winning the race for consumer loyalty but will also reap the financial rewards that come with it.”