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11/15/2021

Price is top factor in online buying

Marianne Wilson
Editor-in-Chief
Marianne Wilson profile picture

Shoppers are worried about product availability and shipping delays, but both lag behind another critical factor when it comes to making a purchase online.

Asked what factors typically influence their purchase decisions when shopping online, 82% of respondents said price, according to a survey by web data platform Bright Data. Sixty-five percent said product availability, and 59% said delivery timeframe.

In addition, 74% of respondents said they would switch from their usual retailer if they found a better price elsewhere.

“It’s no surprise that the majority of consumers prioritize securing the best price when holiday shopping,” said Or Lechner, CEO at Bright Data. “I expect that more organizations will wake up to the potential of using external or alternative data insights to maintain competitive offers and pricing in this ultra-competitive time, and those who won’t will remain behind.”

The research, carried out by Vanson Bourne, surveyed 4,000 consumers across the United States and U.K. It uncovered that shoppers in both regions have low confidence in retailers’ ability to deliver gifts in time for the holidays, with 66% of U.S. respondents planning to shop ahead of Black Friday and Cyber Monday to secure their chosen items in time.

The findings also found that getting the best deal is a top consideration for consumers. Most (69%) of U.S. holiday shoppers will be heavily using price comparison sites to find the best deal this year. This represents a year-on-year increase of 9% in the U.S. market.

Other survey findings are below.

  • Over one-third (35%) of respondents said they preferred to purchase from brands that have a better reputation.
  • 16% of respondents have considered using a different online retailer due to poor website accessibility and design.

• Overall, a slim majority of respondents (56%) in both the United States and U.K. plan to participate in discount days like Black Friday and Cyber Monday. Of the different age groups surveyed, the percentage of 18-24-year-olds who said they would be participating (72%) was significantly higher compared to those aged 65 and over (36%).

When it comes to online shopping, 53% of respondents who currently only shop online said they will do more shopping online this holiday season. For those that currently only shop in person, 14% said they will do more online shopping this year.