For consumers recommendations help them see the potential of alternatives or additions, while retailers sell across more lines, reducing the danger of having long-tail items left in their inventory that then need to be sold at a large discount – according to the RetailX UK Growth 1000 report.
Growth 1000 retailers are most likely to recommend products that are similar to the one that a customer is viewing – 82% take this approach. 39% recommend complementary products that go with the item being viewed. This is more common among multi-sector retailers or those selling fashion (both 45%) – than among those selling sports and leisure products (35%).
Slightly fewer recommend products that are more expensive – through upselling (38%) – than the product being viewed.
Customers also share their recommendations – whether to buy or not to buy – when they leave a review. Where Growth 1000 retailers selling to the UK share customer reviews through third-party service Trustpilot, the average index member has 16,900 reviews, while the median has 2,600 reviews.
How do the Growth 1000 promote products on their website?
On-site advertising and promotions help show shoppers a wider part of a retailer’s range than the might otherwise see. Offering strategic discounts and highlighting items on website banners can help to reduce the risk of product lines being overlooked, while getting the best achievable price for them.
Once visitors have found an item they might consider buying, strong product information ensures they understand what they are buying. Almost all of the Growth 1000 (99%) show banner advertising on their UK websites, while 78% show obvious promotions.
When RetailX researchers rate product information on Growth 1000 websites out of four – a figure that is assessed multiple times and standardised – the average website is put at 2.93 and the median website at 3.
Knowing whether or not a product is in stock is useful information for customers making a final buying decision. 41% of the Growth 1000 enable shoppers to check whether the product they are considering buying is in stock, rising to 42% among the Growth Top150. Among multichannel retailers, 24% enable checks on whether a product is available in their local shop – ahead of the 22% of the Top150 that support this approach.
As well as downloading the full UK Growth 1000 report, you can now catch up on the webinar discussing it.
Hear from Ceri Griffiths, Head of Enterprise at Zopa Bank, as we explore the key findings of the RetailX UK Growth 1000 report. This webinar uses the findings of the report to help retailers gain a comprehensive understanding of the current retail landscape and learn how to leverage these insights to drive growth in 2025.
Stay informed
Our editor carefully curates two newsletters a week filled with up-to-date news, analysis and research, click here to subscribe to the FREE newsletter sent straight to your inbox and why not follow us on LinkedIn to receive the latest updates on our research and analysis.