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Data for today’s episode is provided by Mercator Advisory Group’s Report: 2021 Buyer PaymentsInsights: Speed and Convenience-Driven Shopping
Top Events That Have Prevented Consumers from Making a Purchase Online:
- 16.5% of consumers say high shipping costs are a top reason they’ve chosen not to make a purchase online.
- 13.3% of consumers say believing they could find an item at a lower price elsewhere is a top reason they’ve chosen not to make a purchase online.
- 13% of consumers say an item being out of stock or unavailable is a top reason they’ve chosen not to make a purchase online.
- 9.7% consumers say the delivery time being too long is a top reason they’ve chosen not to make a purchase online.
- 5.9% of consumers say being uncertain about a seller’s reputation is a top reason that has kept them from making an online purchase.
- 5.2% of consumers say unclear product descriptions are a top reason that has kept them from making an online purchase.
About Report
Mercator Advisory Group’s most recent consumer survey report, 2021 Buyer PaymentsInsights: Speed and Convenience-Driven Shopping, from its annual Buyer PaymentsInsights series, examines U.S. consumers’ current shopping habits for goods and services both in-store and online.
The report, which is based on an online consumer survey administered to 3,003 U.S adults between May 21 and June 22, 2021, covers the buyer experience and includes questions that explore consumers’ shopping attitudes, preferences of shopping venue, loyalty program membership, the use of mobile phone while shopping, common ways consumers make non-grocery purchases, before, during, and expected after the pandemic, and many more shopping-related subjects. It is important to note, this survey was conducted one year post COVID-19, as the American economy begins to experience a glimmer of hope with vaccination approval and population immunization under way.
Various aspects of how American consumers interact with the payments’ ecosystem are brought together to highlight key trends in consumer behavior, preferences, and motivations, influenced by consumer perceptions and experiences with payment-related issues associated with purchase speed and convenience in a rapidly changing payment environment.
Readers will be presented with a detailed analysis of the impact of demographic characteristics on consumer behaviors and inclinations, general consumer trends, as well as actionable insights for industry players to consider.
