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BizReport : Ecommerce archives : December 19, 2014

Third of consumers never pay full price online

Research into the deal-seeking behaviors of consumers reveals that consumers are no longer willing to pay full price for online purchases.

by Helen Leggatt

The research, carried out by omni-channel marketing and rewards programs solutions provider Cartera Commerce, found that 88% of consumers said they are no longer willing to pay full price for online purchases. Furthermore, 35% said they never pay full price.

In fact, getting the best price and discounts is the top reason consumers cited for shopping online (52%) followed by the ability to be able to compare prices (41%) and bigger choice (36%). Consumers head to websites run by stores and brands to find the best deals (52%), along with search engines (39%) and searchable deals, cashback and discount sites (38%) in their quest to find the best bargain.

Almost all (89%) said that if they could find all the discounted products they need on one website they would shop on that site frequently.

Cartera's '2014 Consumer Spending and Deal-Seeking Behaviors' survey also highlighted the fact that rewards program members are "highly engaged deal seekers" and 87% of members redeem rewards for points, cashback and miles. The most sought after rewards are immediate cash savings and discounts.

"Online shoppers are empowered with ease of use and access to countless deal sites. With this 'perfect information,' they're in total control of their shopping experiences and the prices they pay," said Tom Beecher, Cartera Commerce's president and CEO. "With one-click price comparisons, today's online retailers are facing significant challenges. E-tailers must leverage online tools that enable this kind of deal-hunting activity, and tap into the significant brand and credit card rewards networks where likely spenders are shopping for discounts that also come with rewards, like cashback, points and airline miles."

Image via Shutterstock

Tags: consumer behavior, ecommerce, online shopping, price comparison, rewards programs

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