Price and free shipping are on the minds of online holiday shoppers this season. Forty-three percent said price was the most important factor and 18 percent cited free shipping, according to a recent survey by Synovate of Chicago for Guidance.
When the same respondents were asked to choose their second most important factor, 41 percent said free shipping, and 24 percent named price. Only 8 percent cited special promotions or coupons as the most important factor, 7 percent said recommendations or product reviews, and 4 percent said a speedy checkout is most important. Just 1 percent said that in-store pickup/ returns were the most important factor.
Close to 19 percent of the total sample said they do not make any purchases online (22%of men and 16% of women.) An important finding since all of the 1,000 participants in the survey are online. Those in the highest income brackets were more likely to cite price as their top priority. Fifty-three percent of those earning $50,000 to $75,000 said price was most important, while just 37 percent of those making less than $25,000 agreed.
Concern about price is largely tied to age, the younger the respondent, the more price becomes a factor. Price is most important to those 18-24 (53%) and less important to those 65 and over (30%). Those who are 25 to 34 are the most likely to make a purchase online (only 9% do not). Those over 65 are least likely to buy online, with 30 percent saying they don’t.
“Clearly, the economic climate is driving bargain hunting,” said Jason Meugniot, Guidance president and CEO.
“The Internet has opened a vast new world of low-cost purchase options for online buyers. While the online buying experience has improved markedly in recent years, at the end of the day – especially a day of financial uncertainty — price matters.”
