Discounts Are Most Important in Determining Consumer Decision-Making, Study Finds
08 November 2019 - 10:23 by Simon Crisp
A report from Criteo has highlighted the different factors which determine whether or not someone decides to buy an item offered via safe shopping online or on the high street.
Perhaps unsurprisingly, it was price that played the biggest part in influencing this decision, with 66 per cent of respondents confirming that if there was a deal, discount or other form of reduction available they would be more likely to shop with a particular outlet.
Meanwhile, 41 per cent of those questioned said that branding was important to them, with companies which seem most closely aligned with their values more likely to earn their loyalty.
In the run-up to Christmas, analysts found that the biggest boost to sales for specific categories of items was enjoyed by consumer electronics, with interest almost quadrupling. Meanwhile, health and beauty products are projected to enjoy three times as much attention at this time of year, along with a similar boost for clothing and sportswear.
Value for money may be the determining factor in most purchasing decisions, but there are clearly a lot of other complex elements which influence everything under the surface. In turn, this means that retailers need to adapt their offers and focus their efforts on appealing to prospective customers in the final three months of the year in order to optimise sales.
Another point raised in the report is that the Sunday of the Black Friday weekend could actually be the biggest period of growth in terms of sales activity, which at the moment is something that many retail sites are overlooking. The web is giving people much easier access to shopping services, and in turn this means they are eschewing standard opening hours in favour of fitting in retail around their free time.