Retailers could reap £4.9bn in extra revenue by offering same-day delivery
Businesses missing out on an “untapped goldmine” as research finds 72% of consumers would spend more if given the option of same-day delivery
Consumers are “crying out for same-day delivery” but retail businesses are failing to answer the call – and losing up to £4.9bn in potential revenues in the process – research from on-demand delivery platform Stuart has suggested.
The study, which surveyed 1,020 UK online consumers, found that missing delivery options is costing retail businesses dearly.
72% of consumers said they would spend more with their favourite high street retailer online if it offered same-day delivery options; equating to an average of £168 extra each year.
What’s more, 62% of consumers revealed they would pay a premium for same-day delivery and a whopping 79% said they would actually switch from their favourite high street retailer if it failed to offer their preferred delivery method.
The report from Stuart – which coincides with the UK launch of the delivery service – also highlighted how now, more than ever, convenience is king for consumers.
39% of shoppers stated that convenience was the most important thing about delivery while 63% of shoppers admitted to abandoning an online purchase due to poor delivery options.
According to the research, the “opportunity is still anyone’s to take” with 96% of consumers’ ‘favourite’ retailers yet to offer same-day delivery.
David Saenz, UK general manager of Stuart, said of the “untapped goldmine” of same-day delivery:
“The future is not just fast but flexible, and convenient delivery is needed to match consumers’ increasingly mobile lifestyles.
“Too often convenient delivery – and returns – are being considered a ‘nice to have’, not a necessity, by high street brands. […] The retailers who invest in [same-day delivery] now will not only be winning the race for consumer loyalty but will also reap the financial rewards that come with it.”