It used to be that in order for a consumer to do a price comparison it required some sort of inconvenience for them. Before the Internet, they had to drive across town or have their newspaper ads handy. Once the Internet came along, they could compare before they came in store but once they were there the options were limited.
In the smartphone and tablet era, not only can consumers compare prices between retailers while standing in a store, they can actually purchase the product from a different retailer while standing in another store.
In a survey we conducted for the National Retail Federation this past holiday season, 25.3% of Adults 18+ shopped for an item in a store and then decided to buy that same item online from a different retailer. The ability to find a cheaper price online was the overwhelming top reason for choosing the online retailer.
The convenience of shopping online was the second most chosen reason for going to a different retailer online and the item being out of stock or unavailable in the store came in third.
Another interesting insight from the January survey was about the Amazon Price Check Application. Of those who have a smartphone, 15.9% used the Amazon Price Check Application this past holiday season. I recently downloaded this app to my iPhone and tried it out. You can scan a barcode, take a picture of an item, type in the product name, or “Say It” and the app will search to find that product and give you the Amazon.com price. I took a picture of my office desk phone and it found it in seconds.
The smartphone and tablet era presents an interesting challenge for retailers that doesn’t look to be going away any time soon. New technology is always just around the corner helping to make consumers’ lives easier. What could possibly be next?
Check out the Prosper Mobile InsightCenter to find the latest smartphone and tablet consumer trends.
Source: BIGinsight™ Monthly Consumer Survey – JAN-12 (N = 9317, 1/4 – 1/11/12)
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