Online Prices Are NOW Helping Consumers Decide Whether To Shop Online Or In-Store

It has become increasingly common for shoppers all across the globe to hit the internet, look up the prices of the items they are interested in, and then decide whether they should make the purchase online or visit the store. And this was confirmed by a multi-nation study conducted by YouGov.The study showed that two out of three (66%) consumers check out prices online before making up their minds regarding how to proceed with the buying process. It’s worth noting that there was a considerable difference when it came to the extent to which shoppers assess the prices of household items throughout the world.For Asian countries, mainly China, India, Indonesia, and UAE, about four in five consumers stated that they look up prices of household items online ahead of time. However, not even 50% of the consumers in Denmark, France, and Germany shared the same thought process.As for the difference in the thought processes by age groups, it was mentioned in the study that 68% of the Americans aged between 45 and 54 years prefer looking up the prices of household products online before deciding which medium they should buy them through. As for Americans 18-24, 50% agreed that they also hit the web to assess the prices first.In Great Britain, three in four consumers belonging to the 25-34, 35-44, and 45-54 age brackets admitted their preference for looking up prices online beforehand.In Australia, younger consumers were found more interested in checking prices on the internet than their older counterparts. Though only 66% of the shoppers falling under the 45-54 age group admitted that they select their purchasing medium after checking the prices online, the numbers were significantly higher for the 18-24 (70%), 25-34 (70%), and 35-44 (75%) brackets.The above-mentioned findings clearly indicate that consumers are highly interested in pricing details even if they have made up their minds to buy products in-person. Therefore, physical retailers must make sure that the prices of their products online are kept up to date. This also applies to shop owners who don’t accept online payments.For this study, YouGov surveyed adults (>18 years) across 17 countries. Between 508 and 2019 respondents participated from each market.

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June 19 2021 | Ali Siddiqui

https://www.digitalinformationworld.com/2021/06/online-prices-are-now-helping-consumers.html