Technology has produced a new breed of savvy shoppers, who have honed their shopping skills to find the best products from every corner of the world, driven by their desire for unique products, better prices and increased convenience. More tellingly, the retailers must continually evolve and adapt with the increasingly empowered shoppers and the ever-changing technology available to them.
Keep an eagle eye on the 6th Annual study of the UPS Pulse of the Online Shopper which analyzes consumer shopping behaviors from pre-purchase to postdelivery based on shopping frequency:
The Product Rules:
- 56% of respondents choose unique products as the top reason to shop at small retailers in 2017, with 6 increased points than the year before.
- 37% of respondents cited that broader selection is their top reason to shop in a marketplace, with 3 points raising than the year before.
Saving Money Matters:
- 81% rate product prices as important when searching and selecting online for products.
- 70% of mobile device users have compared prices among retailers.
- 55% of online shoppers who have purchased products on social media find daily deals important.
- 43% of Facebook users follow retailers to receive promotions for holiday shopping.
- 85% of online shoppers indicated free shipping as their first appealing element of membership rewards program followed by free returns and special discounts each at 61%.
- 79% of shoppers cited that shipping fees are important during the product search and selection process with over half of shoppers abandoned their carts because shipping costs made the total purchase more than expected.
- 49% of Millennials indicate that social media influences their purchase decisions vs 19% of Non-Millennials.
- 29% of Millennials made their online purchases via smartphone vs 10% of Non-Millennials.
- 84% of Millennials have compared prices at other online or physical stores on their smartphone in store vs 60% Non-Millennials.
- The percentage of Non-Millennials shoppers who purchased from Amazon grew 25 points to 90% vs. 80% of millennials, with 31% f non-millennials begin their search for a product on amazon.Com vs 25% of millennials.
- 77% of urban shoppers use smartphone in-store to compare prices, while 68% use it in-store to check in-stock status at another location or online.
Pulse of the Online Shopper the Savvy Shoppers in Us, Oct 2017 UPS | Report
Graph Shows the Influencing Factors Affects the Purchasing Decisions Among Millennials vs Non-millennials
Data were driven from over 5,189 who made at least 2 online purchases in a typical three-month period, data collection occurred between January 10 and February 28, 2017 (Q1, 2017) with a gender and age balancing taking place.