The Cost of Long Queues: 3 Reasons to Use a Queue Management Solution for Brick & Mortars
There’s no arguing that queues suck. Nobody likes to wait in line, and there’s something that’s rarely discussed about queues — their huge cost.
In this article, we attempt to put a monetary value on queues and find out how long waiting impacts revenues and customer loyalty.
Understanding the numbers
According to a report titled “How Long Does It Take To Lose Your Customer,” the average Brit spends 1 year, 2 weeks, and a day of their lives stuck in shop queues.
the longer the average waiting time spent in queues, the shorter the customers’ patience:
- 25% say they would only wait a maximum of 2 minutes.
- 59% say they would wait no longer than 4 minutes.
- 73% say they would abandon their purchase if they had to wait for more than 5 minutes.
Even UK shoppers who are known for their high tolerance when it comes to queues consider 9 minutes long enough to make them reconsider a purchase and leave without buying:
- 86% of Brits would avoid stores if they perceive the queue to be too long.
- 83% consider fast-moving queues an integral part of the customer experience.
- 76% say that stores should be doing more to reduce waiting times and shorten queues.
The impact of slow-moving queues on brand loyalty
Slow-moving lines not only cause shopper frustration but may also affect brand loyalty:
- 74% of shoppers will go to a competitor’s store if they perceive a faster queue time.
- 70% of shoppers are less likely to return to the same shop if they had experienced long waits in queues.
The ability to complete a purchase quickly has a significant effect on how customers view a brand. According to a study by EPSON, 56% of consumers say that fast payment and short queues are critical to “positively influencing their perception of a retail brand.”
Poor customer queuing and lost revenue
Queues don’t particularly have a price tag, but that doesn’t mean that they don’t come at a cost to companies. For customers, long queues mean a waste of time, whereas, for companies, it’s all about lost revenues.
Research released by Adyen found that Long queues are among the chief contributors to lost store revenue, costing retailers up to £12 billion each year in potential sales losses:
- £6.4 billion lost by retailers to their competitors.
- £5.6 billion lost due to customers leaving or deciding to spend less.
In short, long waiting times are costing you sales, and you need to do something about it.
Using a queue management solution to solve queuing problems
With a Queue Management system, businesses like retailers and supermarkets can accurately calculate the number of customers at checkout queues and the average time they spend waiting.
What puts businesses ahead of their competitors is gaining and maintaining consumer loyalty and effectively meeting customers’ expectations. If you aim to provide your customers with a positive experience, then minimizing their waiting time in queues should be a priority for your business.
Queue measurement systems analyze and improve the flow of visitors and generate significant benefits. Here are the ways your retail business can benefit from queue management:
No one likes to wait in line. For brick-and-mortar businesses, customer satisfaction should be the primary goal. One in every three potential customers leaves the store without making a purchase if they have to wait more than five minutes to pay. Customers value their time, and in order to create a better experience and obtain loyalty, it is crucial that they leave your store happy by improving their checkout experience.
With a proper queue management system, businesses can measure customer flow, the time customers wait in line, and the percentage of customers who leave without purchasing (abandonment rate).
With the data obtained from our queue management technology, managers and store operators can identify the optimum checkout queue length, minimize the waiting time, and keep customers satisfied.
The system also notifies the staff when there is a longer than optimal queue length and prompts them to open another cash register. With the help of V-Count’s queue management system, you can ensure that customers have a smooth journey that eliminates abandonment and provides that your customers make a purchase.
Working with a queue management system provides invaluable data about customer flows and peak hours. This data could be used to optimize employees’ schedules and improve staff allocations more efficiently according to customer needs.
Allocating your staff according to the data obtained from a queue management solution helps you make sure your customers are content with their shopping experience to eliminate abandonment rates. Shorter checkout queues mean happier customers and more productive staff.
A retail queue management solution is a worthy investment that could be utilized as a cost-saving strategy in the long run. Businesses using this system can understand the average time spent in their queues, which enables them to rethink their queue strategy and staff allocations. With a proper queue management system, retailers can better allocate their resources and workforce and ensure that unnecessary staffing costs are reduced.
In a nutshell, proper queue management means that your customers get the service they expect without waiting around. Managing your queues with V-Count’s queue measurement solution means you will be able to allocate your staff to the places where they are needed the most. Most importantly, queue management technology helps you keep your customers happy and satisfied when leaving your store.