Forget building loyalty: Online shoppers most influenced by price

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MyCustomer.com
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Yet another study pitting the importance of price against loyalty has documented the rise of the savvy shopper, driven to find the best deals online.

According to Rakuten’s survey into consumer shopping preferences, price (61%) was found to be the main factor shoppers consider when making purchases online. Globally, trust in retailers followed as the second most influential factor with 49% - although was shown to be the most influential factor for Indonesian (69%) and Thai (65%) shoppers.

Additionally, the report dispelled beliefs that shipping and payment options are of high importance to consumers with just 29% of global shoppers citing shipping as a key factor in their purchase decision.

Instead, choice was revealed as the third most important factor (40%); on-site rewards claimed just 29% of shopper’ preferences.

Adam Stewart, MD at Rakuten’s Play.com, said: “Competition online is evolving, discerning shoppers will always look for a good deal, but as retailers we need to move away from a model of unsustainable cost cutting towards value creation.

“This research shows that, while price is important shoppers are increasingly looking for more than that online, they want brands they can rely on, that deliver entertaining and secure shopping experiences. Retailers need to focus on creating a reliable shopping experience in order to build loyal consumers who are happy to come directly to them for their shopping needs.”

However, research into online consumer behaviour often produces conflicting results. A recent study from EPiServer showed that over half of online shoppers prefer to shop from their favourite websites rather than browse the internet for the best deals, whereas Kcom’s report found price to be the most important factor for shoppers.

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