Tuesday, January 23, 2018

Consumers Fret Over Prices

From eMarketing:

Despite the continued strength of the US economy, shoppers remain focused on prices, and that focus drives decisions about whether to shop online or in-store.

According to a recent survey, nearly six in 10 US shoppers say they prefer to shop online instead of in-store because of several factors, one being price transparency.

The study from e-commerce and supply chain solution provider Arvato, which surveyed 2,000 US adults in October 2017, revealed that 61% of respondents said it was easier to compare prices online vs. in-store—even when they were already shopping at a physical location.

What’s more, roughly one in five (19%) respondents said they would abandon an in-store purchase if they found a lower-priced product while webrooming via their mobile device.

But while price may be a big motivator for why consumers choose to shop online, it can also contribute to abandoned carts. Nearly a quarter (24%) of shoppers surveyed said they would abandon an online order if they thought they could save money by purchasing it in-store.

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