One-Third of Respondents Never Pay Full Price Online; Majority Will Spend More on the Web This Holiday Season
LEXINGTON, Mass. — Nov. 24, 2014 — Cartera Commerce, the leading provider of omni-channel marketing solutions and rewards programs that increase revenue and customer loyalty, today announced the results of a study that indicates the ease of ecommerce and availability of discount sites has led to more consumers expecting a better deal this holiday season.
The ”2014 Consumer Spending and Deal-Seeking Behaviors” research demonstrates that consumers are no longer willing to pay full price for online purchases. Eighty-one percent of survey respondents said the accessibility of discount, deals and coupon sites have affected their willingness to pay full price. In fact, 35 percent said they never pay full price for items online. This presents a new challenge for retailers as they look to capitalize on the popular upcoming shopping days.
The research also suggests rewards program members are highly engaged deal seekers. According to the survey, 87 percent of respondents who participate in these programs redeem rewards for points, cashback and miles. Consumers find rewards programs tied to immediate cash savings or discounts the most valuable, citing cashback and points that can be exchanged for cash and discounts as the most sought after rewards. However, 39 percent of respondents are unaware that these programs offer online shopping malls that provide a one-stop shop to find the best deals.
“Online shoppers are empowered with ease of use and access to countless deal sites. With this ‘perfect information,’ they’re in total control of their shopping experiences and the prices they pay,” said Tom Beecher, Cartera Commerce’s president and CEO. “With one-click price comparisons, today’s online retailers are facing significant challenges. E-tailers must leverage online tools that enable this kind of deal-hunting activity, and tap into the significant brand and credit card rewards networks where likely spenders are shopping for discounts that also come with rewards, like cashback, points and airline miles.”
Highlights from the study include:
• Aside from convenience, respondents said the top reason they shop online is for “better deals and discounts” (52 percent); the second most selected response was “easier to compare prices” (41 percent), followed by “larger selection/inventory” (36 percent)
• Consumers look to a variety of sites to find the best deals, citing store/brand websites (52 percent), search engines (39 percent), and searchable deals, cashback and discount sites (38 percent) as the top three sources.
• 89 percent of respondents said if they knew they could find almost all of the discounted products they need and want on one website, they’d shop on that site more frequently
• 62 percent of respondents expect to spend less than $499 online this holiday season
• Half of respondents say they will spend “about the same this holiday season, but more respondents said they will spend more online this holiday season (28 percent online vs. 8 percent in stores) and less in stores (47 percent in stores vs. 22 percent online)
For information Cartera Commerce, visit www.cartera.com.
About Cartera Commerce
Cartera Commerce delivers the industry’s most comprehensive, fully-managed, performance-based offer platform for card issuers, airline frequent flyer programs, loyalty programs and merchants. Cartera works with two of the top three largest financial institutions, all five of the largest airlines and hundreds of merchant advertisers to power personalized, omni-channel shopping and marketing programs that build consumer engagement and loyalty, maximize card spend and create new revenue streams. The Cartera offer platform delivers relevant offers via multiple digital marketing channels including website, online banking, email, mobile, and social media. The company is headquartered in Lexington, Mass.