Although some might contend today’s shoppers are in a rush to purchase, a new study suggests the availability of research resources is encouraging a significant portion of consumers to take their time reviewing products before they purchase.
Despite the rise of mobile-first behavior, PC-based commerce remains a vital part of shopping, the RTB study revealed. More than half of consumers across tasks such as purchasing higher-ticket items like appliances use phones and personal computers to complete their transactions.
Brand switching and chasing bargains have become a key strategy for consumers confronting higher prices, according to RTB. Almost 60% of the consumers participating in the research reported some or frequent switching between retailers, with shifts driven primarily by pricing and discounts. RTB added generations are demonstrating different attitudes toward future spending. Gen Zers and Millennials report a higher likelihood of increasing their future cash outlays, while older generations are spending more conservatively as they confront uncertain economic conditions.
“Everything in today’s e-commerce environment is being driven by increased intensity of the research phase and true generational divides during the current macroeconomic environment,” said Jaysen Gillespie, RTB vice president of product marketing and analytics. “Marketers can no longer rely on broad assumptions about their potential customers. To win, brands must meet their customers across all devices and out-maneuver competitors during the critical research phase.”
