New survey shows shortened path to purchase
My world was rocked recently by a shopping revelation – 9 times out of 10, it’s easier to buy what I want online than to go to a store. I fought the concept because I actually enjoy shopping but I realize that when it comes to mundane things that I need likes sheets and printer ink and new shoes for my son – shopping online is simpler and faster. Why faster? Because the note to “buy shoes” will sit on my desk for a week before I get myself over to Walmart. In that amount of time I could have had them delivered. And now that I have Amazon Prime, there’s almost nothing I can’t have within 2 days of ordering it.
The path to purchase is shorter than ever – that’s what’s I’m saying and what parago is saying in their new shopper report “Need for Speed: Disrupting the Omni-Channel.”
The report shows an average purchase time of only 2.25 days across 11 retail categories. Washing machines and TVs landed on the high end but even there it was under 4 days on average. Household goods like beer, dog food and laundry detergent all landed in the 1-2 day range – not a surprise. But I was surprised to see athletic shoes, video games and tires in that under 2-day range as well.
parago then asked shoppers if they were more likely to make those purchases using an omni-channel approach as opposed to shopping only in-store. Now the funnel is flipped. People said they were more likely to
Now, those big ticket items rise to the top of the list. These are the items people research so the purchase funnel begins online and in many cases ends there as well.
Here are a few more facts from the study:
- Deal-finding activities are increasing: 65% of shoppers report being more sensitive to price now than a year ago and 88% of consumers look for deals, rebates and best prices before shopping.
- Showrooming threat is not dead: Four out of five 18- to 49-year-olds own smartphones, and nearly 50% of all shoppers compare prices in-store using smartphones.
- Online shopping nears full saturation: 99% of shoppers with incomes at $50,000 and above shop on their computers. Two out of 5 people now shop on tablets.
That last one is a biggie. Almost every shopper with an income over $50,000 is shopping online.
Finally, let’s look at where people are going to begin their purchase journey:
Google is tops for almost all big ticket items and plenty of smaller ones, too. I understand why people turn to the in-store displays for groceries and home improvement but I’m surprised to see pet supplies on that list, too. For clothing, most shoppers turn to retail websites to begin their buying spree.
According to these numbers, Amazon isn’t as powerful as we thought. Still, it’s the second choice for toys, electronics and office supplies. Now look at the last two columns – social media and mobile apps come in last place over and over again. Interesting.
If you want to take a closer look at how the average shopper goes from “I want” to “I bought” – download this free report from parago. It’s an easy and informative read.