The Electrical Path to Purchase - Future Thinking...The Electrical Path to Purchase.....is...
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innovation intelligence inspiration The Electrical Path to Purchase... ...is increasingly dynamic and multi channel Unsurprisingly the key decision drivers are COST, BRAND & SPECIFICATION Value for money A well known brand Suits my needs Product specification What drives decision making? 60% 46% 46% 44% Online In Store 30% 11% 72% Friends & family 78% 38% 22% BUT channels vary by category depending on budget and complexity of product Online is the main medium for research... 45% Have a budget and stick to it 35% 16% Have a loose budget in mind but might not stick to it 20% 18% No budget in mind 12% 17% Try to cut costs on my recent/ next purchases 18% 16% Pay more attention to price than I used to 15% 10% Pay more attention to value than I used to 14% PAST purchases are affected by budget restrictions across all categories But the FUTURE outlook is brighter... Convenience Trust Promotions Cheapest option 37% 53% 30% 35% 25% 35% 19% 16% Price remains the key driver when it comes to retailer choice, both online and in store Budgeting: save or splurge? 42% PURCHASED ONLINE 52% PURCHASED IN STORE However, when it comes to the actual purchase, in store remains the channel of choice Researched in store and purchased in store Researched online and purchased online 39% 15% 25% 100% 60% 100% In their research, consumers visit an average of 3 websites 2.5 stores or Where are we spending our cash? 46% 39% 39% 17% - 18% 15% - 11% 27% - 51% 29% 23% 13% - 14% 14% 10% 25% ONLINE RESEARCH IN STORE RESEARCH The shopper barometer study was conducted in December 2012 with 1,000 primary household shoppers. Data courtesy of SPA Future Thinking © www.spafuturethinking.com Small Appliance 17% Large Appliance 23% Computing 16% TV & Audio 20% 3 WEEKS 4 WEEKS ...but same day impulse purchases highlight the im portance of being the to p-of-m in d retailer of c h oic e On average there is a lengthy path to purcha se...
Transcript of The Electrical Path to Purchase - Future Thinking...The Electrical Path to Purchase.....is...
innovation intelligence inspiration
The Electrical Path to Purchase......is increasingly dynamic and multi channel
Unsurprisingly the key decision drivers are COST, BRAND & SPECIFICATION
Value for money
A well known brand
Suits my needs
Product specification
What drives decision making?
60%
46%
46%
44%
Online
InStore
30%
11%72%
Friends& family
78%
38%
22%
BUT channels varyby category depending
on budget and complexity of product
Online is the main medium for research...
45%
Have a budget and stick to it
35%
16%
Have a loose budget in mind but might not
stick to it
20%
18%
No budget in mind
12%
17%
Try to cut costs on my recent/next purchases
18%16%
Pay more attention to price
than I used to
15%
10%
Pay more attention to value than I
used to
14%PAST purchases are affected by budget
restrictions across all categories
But the FUTURE outlook is brighter...
Convenience
Trust
Promotions
Cheapest option 37%53%
30%35%
25%35%
19%16%
Price remains the key driver when it comes
to retailer choice, both online and in store
Budgeting: save or splurge?
42% PURCHASED
ONLINE
52% PURCHASED
IN STORE
However, when it comes to the actual purchase, in store remains the channel of choice
Researched in store and purchased in storeResearched online and purchased online
39% 15% 25% 100% 60% 100%
In their research, consumers visit an average of3 websites2.5 stores
or
Where are we spending our cash?
46%
39%
39%
17%
-
18%
15%
-
11%
27%
-
51%
29%
23%
13%
-
14%
14%
10%
25%
ONLINE RESEARCH
IN STORE RESEARCH
The shopper barometer study was conducted in December 2012 with 1,000 primary household shoppers.
Data courtesy of SPA Future Thinking ©
www.spafuturethinking.com
Small Appliance
17%
Large Appliance
23%
Computing
16%TV & Audio
20%
3 WEEKS
4 WEEKS
...but same day impulse purchases highlight the importance of being the top-of-mind retailer of choice
On average there is a lengthy path to purchase...
