Results from the study, paired with 451 Research’s Global Unified Commerce Forecast show that British retailers are struggling to keep up with the increasing demand for improved customer experience in store.
The key findings from the research uncover the following:
GBP 6.4 billion has been lost by retailers to their competitors over the past 12 months due to long queues;
GBP 5.6 billion lost as customers spend less or leave a shop altogether due to long queues;
GBP 422 million has been lost as a result of retailers not offering customers’ preferred payment methods.
The report also reveals that 34% of Brits prefer to shop online for almost everything. Of those, 38% cited waiting in long queues as the primary reason they do not like shopping in store. Moreover, 77% of Brits said anything longer than five minutes is too long to wait in a queue to make a purchase.
The research also polled senior decision-makers in the retail sector, 20% said that customers complain about waiting in queues and 21% said they find it difficult to keep up with rising customer expectations.
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