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Affluent Love Bargains

Feb 1, 2008

It's hardly surprising that consumers would cite price as the most important factor in clinching an online purchase. The surprise is that price is more important to those with higher incomes. Yet that is just what is revealed in a recent study by the Synovate research firm, based in Chicago and conducted for Guidance, a web technology provider and systems integrator.

The study of 1,000 online adults found that 43 percent cited price as the most important factor in an web purchase. It was followed by free shipping, ranked most important by 18 percent, and special promotions or coupons, cited by eight percent.

Respondents in the two highest income brackets were significantly more likely to cite price as their top priority, compared with lower incomes. For instance, 53 percent earning between $50,000 and $75,000 a year chose price as the most important factor, compared with 37 percent of those earning less than $25,000 a year. Age also made a difference. Price was cited as most important to 53 percent between the ages of 18 and 24. It was most important to 30 percent of those 65 and older.

The Guidance poll was one of several surveys of online shoppers recently released. Consumers remain slightly more satisfied with online shopping experiences than they were last year, according to ForeSee Results, which specializes in enhancing online marketing programs. Based on data from 57,000 visitors to more than 40 retail websites, ForeSee calculated that consumers' likelihood to shop online is up 1.9 percent from a year ago, and, at the same time, their likelihood to shop in stores is up 2.2 percent.

Consumers rated detailed product benefits and capabilities as the most important pieces of information when researching a product for purchase online. More than two thirds said so in an online survey conducted by WebCollage, a company that helps manufacturers disseminate product information online. Other important information cited were system requirements, ranked critical to 61 percent of those surveyed

Of 115 consumers responding to an online survey by web retailer Safe Home Products, a whopping 95 percent said they plan to shop online this year. A third said they would spend more online this year than last, and 74 percent said they would not shop online from work.

Information in this article was edited from a story on Internet Retailer.com.

Topic: Wholesale News

Related Articles: consumers 

Article ID: 498

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