Even in a Robust Economy, Consumers Fret Over Prices

Nearly six in 10 US shoppers say price makes online the preferred option

Author: Rimma Kats

January 8, 2018

Despite the continued strength of the US economy, shoppers remain focused on prices, and that focus drives decisions about whether to shop online or in-store. 

According to a recent survey, nearly six in 10 US shoppers say they prefer to shop online instead of in-store because of several factors, one being price transparency.

The study from ecommerce and supply chain solution provider Arvato, which surveyed 2,000 US adults in October 2017, revealed that 61% of respondents said it was easier to compare prices online vs. in-store—even when they were already shopping at a physical location.

What’s more, roughly one in five (19%) respondents said they would abandon an in-store purchase if they found a lower-priced product while webrooming via their mobile device.

But while price may be a big motivator for why consumers choose to shop online, it can also contribute to abandoned carts. Nearly a quarter (24%) of shoppers surveyed said they would abandon an online order if they thought they could save money by purchasing it in-store.

The Arvato study is the latest example of research that examines the pros and cons of in-store and digital shopping.

An October 2017 survey by Propeller Insights for digital retail display company June20 asked US internet users about the features they like about shopping digitally that are missing from the in-store experience. Price, naturally was a factor. More than half of respondents said online shopping gives them the ability to find the cheapest product. 

Similarly, a Fluent LLC survey of US internet users in April 2017 found that the most common reasons respondents prefer to shop online are convenience and cheaper prices.