Research: Consumers Will Spend More This Holiday
BuySafe and Vizu announced the results of a survey on consumer online shopping behavior for the 2007 winter holiday season and the results are positive, revealing several key insights into consumer behavior. Over 30% of U.S. shoppers plan to do more shopping online this season compared to last year and compared to their normal retail patterns.
The survey reveals that 35% of shoppers are more likely to shop online this holiday season compared to their normal retail patterns and 33% plan to do more online shopping this year than last year. Shoppers place more importance on merchant performance than other factors like selection of merchandise and ease of transaction, with 48% citing merchant performance as the most important factor to them, followed by 38% citing price, 9% citing amount of selection, and 6% citing ease of transaction. The survey also indicates that a full 50% of online shoppers have encountered a serious problem when making a purchase, for example never receiving merchandise or receiving the wrong item.
“This survey confirms that merchant trust continues to be the leading factor in a shopper’s decision about which merchants to buy from, particularly when multiple sites sell the same product at the same price,” said buySAFE CEO, Jeff Grass. “Shoppers want to be confident that they will receive what they pay for, and that it will arrive in good condition in the time frame they expect. We’ve found that this is true year round, but it’s perceived to be even more important by consumers during the holiday shopping season. The results confirm that consumers will buy more items, more often, when they feel comfortable and confident in the shopping experience.”
Other interesting findings from the holiday shopping survey include:
- 73% or respondents said they would spend more online this holiday season because of lower shipping costs.
- 46% of respondents said they’d rather shop online this holiday season than face the hassle of malls or pay the high cost of gas.
- 34% said procrastination (e.g., buying items at the last minute) is the reason they plan to shop OFF-line this holiday season.