By George Anderson
Come on down. If you're a retailer and that's what you want consumers to do, then you better sharpen your pencil. Because, when it comes to deciding where to buy, consumers are saying they'll only shop if the price is right -- especially if your store's address has a "www" in front of it.
According to Forrester Research, 80 percent of Wal-Mart customers expressed loyalty to the retailer, in contrast to the less than 46 percent of Amazon.com customers who responded similarly.
Online retailers have increasingly turned to personalization services to create a stronger bond with consumers. Unfortunately, the 5,000 consumers surveyed by Forrester said retailers wanting their loyalty needed to do one thing -- offer the lowest price. In fact, 2,000 of those surveyed said price was at the top of their list for deciding where to shop.
Much smaller numbers indicated loyalty reward programs and personalization services were important.
Moderator's Comment: How do retailers without the buying clout of the largest chains remain price competitive in the current market? - George Anderson - Moderator