The classic marketing framework has been the 4 P’s: product, price, place and promotion. It’s clear from a variety of sources, not just our own 4th Annual Holiday Shopper survey that the place is on line and that is clearly changing the rules of the retail game. Prices are completely transparent as online shoppers are able to price compare everything. The same goes for products. And if the shopper doesn’t want to do all of that comparison shopping, there are always sites like shopsavvy.com that are happy to do it for you.
Price-Consciousness Does Matter
While the way we shop has evolved, we are still very pricing conscious shoppers. In our recent survey, 11% of respondents said that all of their holiday purchases would include some sort of promotion like free shipping, a coupon or a discount. Another 39% said most of their purchases would include a promotion and an additional 24% said many of their purchases would include a promotion. So close to ¾ of all shoppers said they were going to look for some sort of pricing program to influence their purchase.
What is Unconditional When it Comes to pressing “Buy?”
The final price and unconditional free shipping were the primary things that made shoppers buy this last holiday season – up 36% and 58% respectively over last year (2012). We can’t wait to see what 2014 has in store for the price conscious, savvy e-commerce shopper.