2014 parago Shopper Report: Consumers Shopping Across More Channels, More Quickly Than Ever

Shopper research indicates that retailers must dynamically disrupt the path to purchase

/ PRNewswire / — Retailers still reeling from a lackluster holiday season may not be communicating with consumers effectively, according to new shopper research from parago. The survey shows that American shoppers remain highly sensitive to price, but they are also making purchasing decisions more quickly than in the past. For retailers, this means there is a smaller window to intercept customers with great deals to close sales.
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The parago shopper report “Need for Speed: Disrupting the Omni-Channel” shows that — thanks to brick-and-mortar, online, mobile and social channels — consumers are now able to quickly and confidently find the best deals, and make purchases swiftly.

“Retailers have a lot to contend with in this new era of shopping: highly competitive prices from e-tailers like Amazon, rising smartphone adoption, the showrooming boom and incredibly price-sensitive consumers,” said Rodney Mason, CMO of parago, a global incentives and engagement company. “For retailers to thrive, they need to disrupt the path to purchase with a dynamic, real-time pricing model. Not just online, but in brick and mortar, too.

“Our research shows that dynamic-price rebates are one way to respond to consumers’ demand for lowest price and protecting margins, unlike across-the-board online price matching,” Mason added.

The “Need for Speed: Disrupting the Omni-Channel” can be downloaded for free here. Key findings from the research include:

  • Path to purchase is shorter: The average time to purchase across retail categories is now less than four days, even for big-ticket items like appliances.
  • Deep insights into 11 retail categories: These categories include auto parts, building supplies and home improvement, clothing, electronics, furniture, groceries, office supplies, pet products, sporting goods, subscription services (broadband, cable and utilities) and toys.
  • The parago omni-channel index: We reveal the propensity to buy in the omni-channel — versus in-store — for 16 different products.
  • 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.  

To identify emerging omni-channel path-to-purchase shopping trends, parago conducted this research during the 2013 peak holiday shopping season. More than 1,500 people who represent the US consumer population responded to this original online survey.

about parago
As the world's most comprehensive, single-source provider for incentives and engagement, we deliver billions in rewards to millions of people worldwide using our advanced technology. Our relentless focus on innovation drives better results, making us the smart choice.

  • consumer rebates & promotions
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  • sales & channel management
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parago is headquartered Dallas, TX and has an office in London, UK. For more information, visit www.parago.com, the parago blog or Twitter. parago: the thought that counts.