From Ray Kroc’s first McDonald’s in 1955 to Pop-Tarts to microwaves, consumers have long placed a high value on convenience. And why shouldn’t we? Time is the greatest equalizer, no matter your position in the work world or your wealth. It's our most precious commodity. We all have the same amount of it, as well as the choice on how we spend this currency.
In my latest article for Total Retail, I discuss that retailers, in the race to earn and keep customer loyalty, must still compete on price, selection and quality, but now convenience must also be added to the winning formula.