A recent America study suggests that `Price’ is the deciding factor that can influence online purchases. The findings come from the 2016 BigCommerce State of Omnichannel Retail Study.
Most important factors that influence online purchases
While Price is still a major influencer the survey found shipping cost and speed (80%), and discount offers (71%) as highly influential in the decision process.
Interestingly the least-influential factors include advertising and recommendations from social media.
Of the 1000 people surveyed 80% of the respondents to the BigCommerce survey say they buy online at least once a month; 70% of respondents to the Internet Retailer survey said the same, and 64% reported shopping online more frequently now than three years ago.
Price will most likely stay as the most influential factor for the long run as we live in a much more price conscious age accompanied with the digital age. With choice being more accessible now than ever retailers have to get their pricing right, shipping cost and availability and all of this creates more dynamic pricing strategies. Check out our blog post on why price is the most important factor for consumers for a more in depth understanding of the topic.