- Marjorie van Elven |
Want to improve customer satisfaction and boost sales? Then pay attention to the music you play in your store. According to a study by music tech company Soundtrack Your Brand in collaboration with the Stockholm School of Economics, customers tend to stay 42 percent longer in stores where background music is played, compared to stores with no music at all. But beware before you push play on a random playlist from a streaming service: sales increase by 32 percent when songs reflect the brand’s identity and target audience. Best to choose the store’s soundtrack carefully, then.
Another study by Nielsen Music, also commissioned by Soundtrack Your Brand, surveyed over 5,000 small retailers in seven countries and found out 83 percent of them use personal accounts rather than business licenses to stream music, which costs the recording industry some 2.65 billion US dollars a year. Creators are supposed to get a higher compensation when their work is used for commercial purposes.