American Express flags focus on quality, convenience and value for money

British shoppers are increasingly seeking better value for money, quality, and convenience during the current economic climate, offering retailers new opportunities to engage people and drive loyalty, according to research from American Express.

The company surveyed 2,000 UK consumers, with 77% saying they are increasingly focused on value for money, and 71% proactively looking for sale items when shopping. 68% believe that retailers could do more to help counter rising prices.

23% are seeking out the best deals rather than sticking with their usual retailers. Additionally, 52% are more likely to shop with a retailer that has a loyalty scheme, and 61% feel retailers can do more when it comes to rewarding them for their custom.

Six in ten respondents say a convenient shopping experience remains a high priority when spending with a retailer.

But with two thirds valuing businesses that accommodate last minute purchases and quick delivery, retailers need to keep a positive customer experience front of mind to stay ahead of competitors.

62% of UK shoppers believe they have seen a dip in the quality or size of products in the last few months as retailers grapple with supply chain challenges, with 47% citing they prefer to buy fewer, better quality items.

Daniel Edelman, Vice President & UK General Manager, Merchant Services at American Express, says: “People’s shopping priorities are understandably changing rapidly in line with the times, with a bigger focus on value and closer eye on quality.”

“It’s important that retailers, as always, stay close to their customers and react quickly in response to their changing needs.”

“Offering a winning customer experience both in-store or online should also be front of mind as consumers continue to prioritise convenience and ease when they shop.”

“These can be real points of differentiation in a more competitive market and something American Express is focused on with our support of retailers large and small.”

“Finding ways to go the extra mile for their customers through loyalty or reward schemes, for example, can help drive repeat custom and keep their business ahead of their competitors.”

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