Shoppers Reveal Top Factors Motivating a ‘Considered Purchase’
Engage the senses, think price and expert advice. As retailers gear up for the peak of Christmas shopping, shoppers have revealed the top factors that would make them contemplate a considered purchase.
According to the survey of 2,000 respondents carried out by OnePoll that we commissioned, the top factor driving a considered purchase is the ‘ability to see and touch a product’, according to 58% of respondents.
Despite being the most favoured strategy during the seasonal discounting period, price promotion was second, rated important by 56% of respondents. This was followed by ‘great advice’ rated important by 37% of respondents and then an effective product demonstration (28%).
Meanwhile Covid concerns were lower down the list with 1 in 4 (25%) saying social distancing was now an important factor.
We surveyed experiences across several key retail categories including: Consumer electronics, homeware, baby & child, gaming, home improvement, clothing & apparel. The purpose was to find out what influences shoppers in making a ‘considered purchase’ – purchases that are made with significant financial or emotional thought.
The survey shows there were key differences in age. Price promotion is actually the top factor for every age group until the +54 year olds when it starts diminishing in importance. Interestingly social distancing is a larger factor for 18-24 year olds with 37% rating this as important. This could be to do with vaccine hesitancy or less still being fully vaccinated.
Meanwhile the survey also reveals a majority of shoppers think most retailers haven’t adapted well to the pandemic in terms of the customer experience. The categories seen to have most adapted best to the pandemic are consumer electronics, 54%, followed by home improvement, 51%. These were the only categories a majority of consumers thought had adapted well or excellently.
Worst performers were baby and child with just 29% of shoppers thinking they’d adapted well. Gaming was rated by just 31% of shoppers as having adapted well. It is clear retailers should embrace an ‘experience-centric playbook’ to make up for lost time during the pandemic, engaging all the senses to bring back the theatre of retail.
Also a new joined up approach is needed given a conclusive 85% of shoppers are now doing online research before making a considered purchase in-store. 84% of Gen Z, 45-54 and 55-64 categories were even higher at 89% and 90% respectively. Interestingly, 69% said a well synchronized online and offline experience would make them more likely to make a considered purchase.
When it comes to physical retail and considered purchases, it is vital to engage all the senses and create a joined up marketing experience that is going to lead the customer to the checkout till. Our research shows just how vital the ability to see, touch and engage with a product in a positive environment is a critical factor in considered purchase decisions.
This desire may well have come about or been heightened by the long lockdowns we have all experienced, increasing our desire to shop in person. The decline in online sales share back to 27% is indicative of this.
Price promotion is of course important but needs to be within the context of a wider customer engagement strategy. As the research shows, the role and approach of a knowledgeable sales advisor is also crucial.
To make the most of the opportunity, try to ensure the environment and setting complements the overall experience with, for example, good lighting, ambience and clearly visible price promotions.
Stand back, encourage play, and keep the conversation flowing using open questions. Learn through specific questions and examples about the customers’ needs and lifestyle changes. A joined up and seamless experience online and offline is also now expected with older generations also more likely to research.
Embrace an 'experience-centric' playbook and win.