Research by HIM has revealed that PayPoint shoppers spend an average of 25% more per visit to convenience stores and visit a store 28% more often on a weekly basis.
The study of 20,000 shoppers found that customers using the bill payment services visited a shop 4.6 times a week compared to a non-PayPoint shopper who visits 3.6 times a week and will spend £7.66 per visit compared to the non-PayPoint shopper’s £6.13. According to HIM, this equates to £35.24 vs £22.07 per week and adds up to £684 per shopper per year.
PayPoint UK & Ireland retail director Andrew Goddard said the figures showed how important services are to the sector.
“The trend towards convenience stores is now well-established and HIM’s research shows that services are integral to the continued prosperity of the sector by pulling in customers in ever greater numbers,” he said. “Not only are bill payments, top-ups, ATMs and other cash withdrawal services important revenue and footfall generators, but they also help consumers recycle their spending, often straightaway in the shop where they access the services.”
HIM executive director Jill Livesey said: “The local convenience store is often the heart of the community and plays a key role satisfying the trend for convenience products and services, a store they can rely on for not only distress purchase but for everyday needs.
“Services, such as PayPoint, are a key driver of footfall into store and are a win-win situation providing value to the business owner, the retailer, and a valuable service to the shopper.”