Retailers have ‘5 days to crack the sale’
Written by Peter Walker
Just under half (43 per cent) of shoppers researching complex purchases such as mobile phones, laptops or broadband packages make a buying decision within five days, according to Conversity research.
In this time, 67 per cent of shoppers will visit at least two online sites, with 57 per cent then narrowing their enquiries to one or two in-store premises.
The retail technology firm polled 1,000 UK consumers, finding that 80 per cent of Millennials consider at least two retailers when doing their research, compared with 75 per cent for Generation X and 70 per cent for baby boomers.
Conversity argued that this generational difference underlines how crucial it is for retailers to have an integrated approach to engaging with customers to maximise sales, especially given the growing dominance of younger demographics.
Laura Arthurton, chief executive at Conversity said that the findings illustrate how consumers like to do their homework when it comes to making complex purchases, but that any opportunity to make a sale needs to be nailed down in a period of just a few days at most.
“Online and in-store shopping aren’t necessarily considered as two separate entities any more: consumers often see physical stores as an opportunity to see and experience the products they have found online up close, and to speak to in-store sales advisors,” she commented.
“At the same time, consumers today are savvy and aren’t necessarily swayed by loyalty to one particular retailer – instead they are on the lookout for the right product or service and the best deal whenever and wherever it suits them best.”