What Determines Customer Loyalty
Posted on Oct 30 2009
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What Determines Customer Loyalty

The research conducted online with 500 nationwide consumers from PAN's Online Consumer Panel. Click here for Full Findings.

Sectors included in the Survey:

  • Insurance & Banking
  • Consumer Electronics
  • Groceries
  • DIY/Garden
  • Pharmacy/Health Stores
  • Telephone/Broadband provider
  • Restaurants
  • Car Dealerships (buying/servicing)
  • Estate Agents:
  • Jewellers
  • Hair & Beauty Salons
  • Clothes



1. Please indicate the 3 main reasons why you would remain a loyal customer?

 
Get in & Out quickly
Comfort / No hassle
Allowed plenty of time
Friendly & Knowledgeable Staff
A wide choice
Just cheapest price
Environmental considerations
Groceries
64%
36%
6%
31%
76%
53%
11%
Hair & Beauty Salons
24%
69%
40%
79%
6%
26%
6%
Consumer Electronics
19%
19%
21%
73%
62%
48%
14%
DIY/Garden
27%
23%
18%
61%
49%
44%
18%
White Goods
22%
22%
19%
59%
51%
45%
22%
Pharmacy/Health Store
33%
29%
15%
82%
47%
36%
7%
Car buying
6%
28%
45%
75%
37%
49%
22%
Jewellers
8%
34%
41%
61%
57%
38%
2%
Clothes
18%
51%
35%
36%
69%
49%
4%

 

2. How often do consumers look for alternatives?

Looking at the overall picture, 60% of customers investigate alternatives companies, stores or services at least once a year.

86% of consumers stated that they look for alternatives stores for their Grocery shopping at least once a year. The other sectors most prone to switching is Insurance, 72%. Highest levels of inertia are evident in the Banking sector where 48% of consumers stated that they had never looked for an alternative. Other low switching sectors include Hair & Beauty and Car Sales & Servicing with 24% and 22% Never looking for an alternative.



3. Taking account of time & hassle involved, how much cheaper would a new company/supplier need to be before you would switch to them?

The most price sensitive sectors are: (based on shoppers switching on a 10% price difference):

•    Groceries, 65%
•    Restaurants, 53%
•    Insurance 51%

 

4. Please indicate the 3 things you want from a shopping experience?

As can be see below, what is important to customers when shopping varies between sector. Taken as a whole, the 3 most important factors are:

•    Friendly & Knowledgeable staff, 62%
•    Choice, 50%
•    Just Cheapest Price, 43%

For Grocery shopping an adequate choice of products in key with ‘Getting In and Out Quickly’also very important to shoppers. For Clothing shopping and salons Comfort and a Hassle free experience is essential, whole consumers purchasing Cars value being allowed sufficient time.

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