Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left of your screen to receive notifications as soon as the episode publishes.
Data for today’s episode is provided by Mercator Advisory Group’s Report: 2021 Buyer PaymentsInsights: Speed and Convenience-Driven Shopping
Retailers Offering Convenience Products Benefit Most from Loyalty & Rewards Programs:
- 58.5% of consumers say that belonging to a rewards or loyalty program causes them to spend more at dollar stores.
- 55.5% of consumers say that belonging to a rewards or loyalty program causes them to spend more at online-only retailers.
- 55% of consumers say that belonging to a rewards or loyalty program causes them to spend more at specialty food shops.
- 54.6% of consumers say that belonging to a rewards or loyalty program causes them to spend more at warehouse/club stores.
- 54% of consumers say that belonging to a rewards or loyalty program causes them to spend more at apparel stores.
- 53.3% of consumers say that belonging to a rewards or loyalty program causes them to spend more at electronics/major appliance stores.
About Report
Mercator Advisory Group’s most recent consumer survey report, 2021 Buyer PaymentsInsights: Speed and Convenience-Driven Shopping, from its annual Buyer PaymentsInsights series, examines U.S. consumers’ current shopping habits for goods and services both in-store and online.
The report, which is based on an online consumer survey administered to 3,003 U.S adults between May 21 and June 22, 2021, covers the buyer experience and includes questions that explore consumers’ shopping attitudes, preferences of shopping venue, loyalty program membership, the use of mobile phone while shopping, common ways consumers make non-grocery purchases, before, during, and expected after the pandemic, and many more shopping-related subjects. It is important to note, this survey was conducted one year post COVID-19, as the American economy begins to experience a glimmer of hope with vaccination approval and population immunization under way.
Various aspects of how American consumers interact with the payments’ ecosystem are brought together to highlight key trends in consumer behavior, preferences, and motivations, influenced by consumer perceptions and experiences with payment-related issues associated with purchase speed and convenience in a rapidly changing payment environment.
Readers will be presented with a detailed analysis of the impact of demographic characteristics on consumer behaviors and inclinations, general consumer trends, as well as actionable insights for industry players to consider.
