The number of consumers shopping online is steadily increasing, a recent survey conducted by Zoomerang found. In fact, in the past year the number of people who buy things online once a week or more increased by more than 53 percent from 2009 to 2010. Only 7 percent of consumers indicated that they never shop online.
The convenience of the Internet in providing access to a diverse inventory of products right at shoppers’ fingertips may account for the rise in online shopping. In addition, consumers can use the Web for product reviews and price comparisons, which enables them to make better purchasing decisions.
Another key piece of information to come out of the survey was that online shoppers are just as price-conscious as their in-store counterparts, with 35 percent asserting that they will not make a purchase without finding a great deal. This statistic accounts for the 23 percent increase in the number of consumers who are familiar with online coupon and deal sites like Savings.com.
The survey also noted that monthly online coupon usage has increased by a whopping 56 percent. More and more consumers are turning to deals and discounts as a way to help make ends meet during the recession. But it’s a forgone conclusion that most Americans will retain their money saving habits even after the economy returns to its prior robust state. Twenty-four percent of survey respondents stated they’d spend up to a week searching for a great deal prior to making a purchase, which represents an increase of 21 percent over the previous year.
As consumer shopping habits shift toward the Internet, more and more retailers are offering discounts and promotions for online shoppers such as Macy’s coupons or Best Buy promo codes. This could be especially true this holiday season. While 31 percent of holiday shoppers plan to do their holiday gift buying online to avoid crowded stores, 45 percent are turning to the Internet to find the best deals. In fact, 87 percent of consumers are planning on using online coupons to purchase gifts this year.
Survey results indicate that the most popular merchandise categories, as far as coupon usage goes, are books, music and video, apparel and electronics. Given this information, it’s not surprising that the overwhelming majority of Black Friday and Cyber Monday deals tend to focus on gadgets like Android phones, iPads and GPS devices, as well as flat screen TVs, Blu-ray players and laptops.
With access to numerous ways to compare prices and products, consumers are becoming increasingly savvier and more inclined to bargain hunt to obtain the very best deal. In order to stay competitive and encourage consumer spending, retailers will need to attract shoppers by offering promotional incentives such as deals, discounts and coupons.
