Convenience as a driver of loyalty has continued to grow in the UK music & video industry
How Britain Shops 2013 Music & Video - Verdict Consumer Report - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-18 15:27:01
Having peaked in 2009 at 49.9% of all UK shoppers aged 16 and over, the percentage of those who class themselves as regular music & video shoppers has fallen to 32.9% in 2013. This reflects a shift in consumption patterns among British shoppers, with many more now using subscription services as opposed to turning to retailers.
More affluent consumers have recorded an increase in their share of the market over the historical period, though this is down to ABs maintaining their level of spending and other socioeconomic groups, particularly DEs, spending less, rather than a notable increase in spending among wealthier shoppers.
With many retailers improving their ranges and with prices evening out somewhat due to the removal of LVCR, consumers are now looking for other ways in which to differentiate between retailers to choose which one to use. As a result, convenience as a driver of loyalty has continued to grow.
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