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
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.
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