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Retailers must match online price changes

Bricks-and-mortar retailers should change their prices more regularly to avoid losing up to 32% of customers who look for cheaper deals on a mobile or tablet device while in store, according to a report from digital display business Displaydata.

Displaydata surveyed 1,000 UK consumers and found price is the number one reason shoppers opt out of making a purchase, with nearly half believing they have experienced inconsistencies against online listings.

The findings show that on average 46.7% of physical stores update their prices once a week, while Amazon refreshes up to 2.5m times a day.  

In total 72% of shoppers say they check prices across the web before visiting high street or retail park stores, and 40% browse in store before buying online.

Chief executive of Displaydata Andrew Dark said: “The ability to check prices anytime anywhere has created a new mandate for retailers to offer value and consistency across all channels.”

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