Life is complicated. Shopping shouldn’t be. When I think about some of my favorite retailers and brands there is a commonality of simplicity.
Sephora tells me which concealer to buy based on my Colour iQ profile. Easy. I can walk into IKEA, get inspired through the showrooms and easily find items I liked in the stockroom (assembly is another story but that’s on me). Amazon will ship almost anything to my door, the same day. Brilliant.
And from a business perspective, simplicity drives more revenue, reveals the seventh annual Global Brand Simplicity Index from Siegel+Gale.
The study revealed that simplicity earns a premium: 64% of consumers are willing to pay more for simpler experiences. Simplicity also builds loyalty, with 61% of consumers more likely to recommend a brand because it is simple.
How is simplicity defined? The survey gathers consumer perspectives on how industries and brands make people’s lives simpler or more complex.
64% of consumers are willing to pay more for simpler experiences.
Low-price grocery chain Aldi retains the number one spot as the world’s simplest brand, followed by Lidi, a German discount chain. Other top finishers are Google, Netflix, Ikea, Amazon, KFC, YouTube, McDonald’s and Subway.
According to the study, brands that don’t provide simple experiences are leaving an estimated share of $86 billion on the table. Simplicity also pays off with happy employees. 62% of employees at simple companies are brand champions — versus only 20% of employees at complex companies.
Health and beauty product purveyor Sephora rises 44 spots in the global ranking. Global hotel chain Hilton moves up 50 spots. Five out of six brands representing the restaurant industry are in the top 15, indicating that quick service often means simple service. The 2017 study, based on an online survey of more than 14,000 respondents across 9 countries, ranks 857 brands on their perceived simplicity.
So as you strategize for 2017, keep asking yourself the magic question, ‘is this making my customer’s life easier’?
Unsure which technology you can use to streamline the path to purchase? Grab our free report that explores the in-store technology retailers are using to provide consumers with a simplified experiences.