Younger consumers are likely to forgo brand preferences if they receive a better deal for a competitor's product while they are in stores, according to a study by AisleBuyer.
The study indicates that retailers could leverage mobile technology and instant deal offers to improve customer satisfaction and loyalty. Approximately 75 percent of shoppers surveyed reported they would buy a competitor's brand if they received a real-time promotional price on their smartphones.
Consumers between the ages of 25 and 34 were even more willing to make a switch - 82 percent - said they would pass on their preferred brand if they were offered a better deal. Additionally, 90 percent of those in this age demographic said they were interested in receiving offers via mobile shopping apps when they are making purchases at grocery or drug stores.
In-aisle purchasing decisions are mostly based on price and everday low value. Seventy-six percent of shoppers who own smartphones credited this as the primary basis of their purchasing decision, according to Aislebuyer. Promotional offers and getting the most for their money came in next with 58 percent, followed by coupon availability with 51 percent, brand loyalty with 38 percent, generic of store brand availability with 26 percent and new products with just 22 percent.