BoConcept Exit Survey – International

1. BoConceptExit Survey – International September 2005

2. Content • Objectives / Project details • Methodology • Conclusions & Recommendations • Contact

3. Objectives / Project details • This survey examines attitudes and behavior of both customers and visitors to BoConcept stores around the world. • Overall, the aim of the survey is to examine satisfaction levels with BoConcept and evaluate a number of specific factors in the stores. Furthermore, the survey should provide a profile of BoConcept’s target group and identify how customers/visitors perceive BoConcept and how they learned about the stores. • To obtain information from customers who have bought products at BoConcept and visitors who might have left the shop without buying anything, the research has been divided into two phases, which were conducted as separate surveys: • Customer Survey • Exit Survey

4. Objectives / Project details • Both surveys have been conducted for two different shops in 6 countries: • Denmark (Odense & Copenhagen) • Sweden (Stockholm & Göteborg) • Germany (Berlin & Köln) • Spain (Madrid & Santiago) • England (London & Bournemouth) • The US (Carle Place & Paramus) • This report gathers the data from all countries and focuses on total results from the EXIT survey. These results provides an indication of common strengths and weaknesses and also sets the benchmarks for individual countries and future surveys.

5. Methodology The survey has been conducted as face-to-face interviews with people leaving the BoConcept shops in the 6 countries. BoConcept staff has performed the data-collection for this part of the research. Method: Face-to-face Interviews: 6 X 100 (approx) Timing: Week ?? The survey is conducted under the terms of ICC/ESOMAR (European society for opinion and marketing research).

6. Conclusions & Recommendations There is a relatively high number of repeat visitors – especially compared to the customer survey where 69 % were first time shoppers. Of the repeat customers, 37 % have been in the store more than 5 times. It might be an idea to create some loyalty schemes.

7. Conclusions & Recommendations Totally, the main part of the visitors did not buy anything during their visit. One third of those who did, only bought for a smaller amount – most likely accessories.

8. Conclusions & Recommendations Looking at the specific countries, there are some significant differences between the countries. Especially Sweden is interesting, where 33 % of the respondents have bought something at the visit compared to only 14 % in some of the countries.

9. Conclusions & Recommendations Most of the respondents who did not buy anything, did not visit the shop with the purpose of buying something. They rather seem to get inspired and just like browsing around in the shop. Another relatively large share come to the store to get some information. There are only a small percentage of the respondents who do not find what they were looking for. However, this might help if they were informed about the individuality of solutions.

10. Conclusions & Recommendations Overall, the visitors are quite satisfied with BoConcept. In total, 82 % of the respondents are either satisfied or very satisfied and satisfaction score is as high as 80 (compared to 78 for the customer survey). Only 4 5 of the respondents are dissatisfied with their visit.

11. Conclusions & Recommendations The overall satisfaction with BoConcept differs between the 6 countries. On a 5 point scale, the mean for all countries is 4.19. However, there are only minor differences between the countries and they are not significant. England scores lower with 3.94.

12. Conclusions & Recommendations The respondents expectations and their experiences in the stores are generally not that far apart. There are small gaps for several aspects but not something alarming. The most important aspects for the visitors are the shop’s arrangement and lay-out.

13. Conclusions & Recommendations As it was the case for the customers survey, delivery time of products is a main challenge for BoConcept. On this aspect there is a gap of 15 which should be improved. BoConcept scores better on the aspects that is related to service in the shop. Especially for waiting time, the respondents are quite satisfied.

14. Conclusions & Recommendations The respondents can be divided into two parts. One share has planned to visit the shop while the other share come there as a spontaneous impulse when passing by. Though most of the respondents have planned the visit, the number of respondents who drops by spontaneously indicates the relevance of prime location.

15. Conclusions & Recommendations This is further seen from the number of respondents who know about BoConcept by passing the store – 45 % (Compared to 63 % in the customers analysis). One out of five have shopped there before and one out of six have been recommended BC. This emphasizes the importance of all service aspects – including delivery and after-sales.

16. Conclusions & Recommendations There are even more visitors than customers who focus on design. 62 % of the visitors find that BoConcept is differentiated from competitors by theur design. It is a challenge though that one of the primary USPs for BC – modularity – is rated rather low as was the case in the customer survey. There must be more focus on this aspect in the shops.

17. Conclusions & Recommendations A large share of the visitors will consider choosing BoConcept the next time they shop furniture. However, there are 15 % who are not sure (9 % in CSI).

18. Conclusions & Recommendations Looking at the different countries, there seems to be most doubt in Sweden. Only 58 % say there will consider choosing BoConcept while 37 % do not know.

19. Conclusions & Recommendations Amongst visitors there are 24 % who are not aware of the BoConcept main catalogue. The catalogue might be positioned so that more visitors are aware of it. 2/3 of those aware of the catalogue have used it.

20. 30 5 of the customers have visited the home page before coming to one of the stores. However, only 20 % have used it in the US compared to 38 % in Denmark and 39 % in Sweden. Conclusions & Recommendations

21. Conclusions & Recommendations The people visiting BoConcept are in all age groups but mainly between 25 and 45 years old. (same findings as with customers)

22. Conclusions & Recommendations Whereas there were no differences on gender in the customer survey, it seems there are more women visiting the shop than men. Most of the visitors are singles on with a partner but without children.

23. Conclusions & Recommendations There are no clear definition on the income group since one third do not wish to state their income. Furthermore, due to a relatively large share of singles, they can have a large disposable income even with less than 500.000 DKK

24. Contact Jacob Høgild hoegild@wilke.dk Researcher +45 33 26 71 27 Please do not hesitate to give us a call if you need further information or have any comments.