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News Now

CU System
Personal service, local focus make small companies desirable
SAN FRANCISCO (4/22/14)--Businesses that are local and have a personal touch--both key characteristics of credit unions--are favored by consumers when they select a company to do business with, according to a recent survey.
 
In its April 7 daily survey, the market research firm Ask Your Target Market captured the preferences of consumers and the buy-local trend.

Fifty-six percent of respondents said they pick a small local business vs. a big-box store because they feel it helps the local economy, just like credit unions keep their loans and deposits local ( AYTM.com April 8).
 
The personalized experiences that consumers receive came in at No. 2, with 53% attributing their local shopping habits to the customer-focused touch.
 
According to eMarketer , a 2013 study by Web.com and Toluna found that 86% considered customer focus and face-to-face interaction to be the top two reasons shoppers preferred small businesses. These "personalized, customer-focused environments" are drawing in consumers, eMarketer noted (April 21).


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