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BizReport : Ecommerce archives : November 03, 2014

Survey reveals how long shoppers spend comparing prices online

Half an hour - that is how long shoppers in Britain take, on average, to research and compare prices online, according to new research released by charitable price comparison website Give as you Live.

by Helen Leggatt

Britain is a nation of bargain hunters, despite the recession fading on the economic horizon. Nine out of 10 British shoppers seek out bargains when they shop online spending, on average, 32 minutes researching prices before committing to a purchase.

Very few, just 7%, are not interested in comparing prices.

Electrical goods are the products most likely to subjected to rigorous price checking, found the research among 2,012 British adults. Eighty-one percent said they compare prices of electrical goods online before purchasing, spending an average of 44 minutes doing so. Other behavioral statistics revealed by the study include:

- 77% compare prices on home appliances, spending 47 minutes doing so;

- 71% compare travel prices spending 1 hour and 5 minutes on the task;

- 47% compare entertainment prices and spend 20 minutes doing so;

- Cost was a final deciding factor, influencing 89% of online purchases.

Retailers must cater for consumers who are searching for bargains online, says Steff Lewis, head of consumer insights at Give as you Live. However, retailers should also keep in mind that "the service offered and being a trusted brand is still key for many consumers, particularly men. So whilst having competitive prices should remain a priority for retailers, it's important to make sure they're getting everything else right too."

Image via Shutterstock

Tags: consumer survey, ecommerce, price comparison, UK

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