Electrical Retailing - UK - May 2010
- Despite the weak economy, price was not as important a consideration as perhaps expected, with nearly a third of consumers prepared to pay more for quality goods.
- A quarter of respondents were also still prepared to buy in stores, despite researching price and features online - suggesting that service is still an important consideration.
- Over 55s have proven to be an important segment during the recession as they bought more replacements than any other age group and were also more likely to pay extra for quality.
- Our research shows that customer loyalty is weak within the electricals sector with nearly a half of all consumers feeling no loyalty to a particular retailer.
- However, trust and after sales service remain important considertaions for consumers, which bodes well for the independents and John Lewis, as well as the main specialists Comet and Currys. As electrical specialists start to engage more effectively with customers through a stronger service proposition this may drive greater loyalty than we’ve seen in years.
- Mintel forecast that the electricals sector will experience further declines before returning to growth in 2013. Between 2010 and 2015, sector sales will increase by 2.1% reaching £7.5 billion in 2015.
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