New York City Retailers who count on waiting out the downturn with the hope of resuming business as usual when the economy recovers are likely to be disappointed. That’s one of the key findings of a new consumer survey, “Growing Market Share,” by Chain Store Age and Leo J. Shapiro & Associates, Chicago.
The study examines the changes consumers have made in their shopping since the downturn began, and provides insights on how to grow market share.
Among some of the findings:
- Customer service ranked as the most influential factor in the decision of households to add a new store, closely followed by “… ability to do more of your shopping there on one trip” and “confidence in the quality of their merchandise.”
- Nearly two-thirds (63%) of households reported that some of the stores they shopped at prior to the recession have closed.
- Seventy-five percent of respondents expect the shopping changes they have made to endure when the economy recovers.
Click here to purchase a copy of the full 81-page report, “Growing Market Share.”