51% Americans switched retailers amid shutdown due to competitive pricing

New Ideas in MarketingEssential news for marketers, summarised by YouGov
September 02, 2020, 12:15 PM UTC

McKinsey for its Periscope report surveyed over 2,500 consumers across UK, US, France and Germany.

This article cites a report by McKinsey which has observed certain consumer trends. The report revealed that 46% of consumers in the US switched to a new retailer during the shutdowns. 51% consumers in the US reported lower prices as reason for switching retailers.

Whereas 52% of Britons switched because of a better price/value ratio. A retailer’s ability to provide a frictionless retail experience is being appreciated by 65% of Americans and 59% of Britons.

Informative product descriptions and clear product images are being valued by 70% of UK consumers since the shutdowns began. This number is 56% in the US.

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