A recent study shows that low prices are not the main reason that online purchases attract more and more consumers!
If this coming holiday season you wish to attract even more online consumers, then low prices should not be the center of your marketing strategy. Although the internet is flooded with cheaper products and services, according to a recent study it’s your services, your customer’s satisfaction and your full range of quality products that will drive shoppers to you and will win their loyalty.
Low prices is still a big factor for shoppers to visit your eshop but think of it a bit, there are thousands of competitors out there, getting more and more each day. If you want to stand out then either your advertising budget will have to get bigger everyday too or you should become a raw model in your industry. Low prices cannot hide problems and online consumers will talk; they might not always talk about their favorite eshops but they will definitely talk about their least favorite.
Take a more detailed look at the study’s findings:
- For 24% of shoppers surveyed: ‘’lower prices’’ was the primary motivating factor to purchase “vanguard” products (entertainment, books, electronics)
- For 16% of shoppers surveyed: ‘’free shipping’’ was the leading motivation for buying commodity products
- For 18% of shoppers surveyed: ‘’lower prices’’ was the primary reason they purchased ‘’new frontier’’ goods (sports and hobby related goods, toys, beauty and health products, clothing and furniture
[Read the survey (pdf)]
‘’Most striking, however, is that the vast majority of buyers in all segments did not cite lower prices as their main motivation’’, the press release said.
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