67% of UK consumers believe they should be thanked more often
86% of UK consumers would be more likely to make a purchase when enticed by a reward
NEW research reveals that businesses who do not offer rewards and incentives to employees and customers are potentially losing out as they are failing to keep up with people’s expectations.
A study of 1,253 UK consumers, carried out by workplace and incentives provider, One4all Rewards, and published in The Magic Word for Business Growth Report, revealed that 67% of consumers believe that they should be thanked more often for their custom.
The vast majority (86%) of those surveyed said that they would be more likely to make a purchase if they were offered a reward or a simple ‘thank you’ in exchange.
While 68% of consumers confessed that they would be inclined to switch provider if a competitor offered an incentive or reward. This highlights how easily consumers can be swayed, resulting in businesses losing out on custom by not offering rewards or incentives.
Incentives offered by supermarkets are the most powerful in converting customers, with 1 in 2 (50%) saying they would be more likely to make a purchase when offered a reward.
44% cited restaurants as the second most influential type of organisation that influences their decision to buy, followed by high street retailers for 39% of consumers.
Michael Dawson, CEO of One4all, said: “The Magic Word for Business Growth report has highlighted the ever changing rewards culture and expectations of UK consumers. Those consumers who were previously loyal to certain big name brands and suppliers are now easily being swayed to switch with the offer of rewards and incentives. Consumers in 2019 understand their worth.
“We can see from the research how important it is for UK businesses to say thank you in a bid to retain customers. It’s clear that businesses who do not recognise consumer demand for incentives and the power they have on influencing buying decisions are risking losing out to competitors.
One4all Rewards are industry experts in benefits and rewards. Working with over 6,000 businesses of all sizes nationwide, One4all Rewards helps to transform customer and employee relationships through successful rewards and incentive schemes.