Posted by Anne Violette on 6th May 2015
Web Browsing vs. Web Buying: Consumer Trends in 2014
Nielsen recently surveyed more than 30,000 consumers for a report on e-commerce. Respondents in 60 countries were polled regarding their internet browsing and buying habits.
For years many brick-and-mortar retailers have been concerned about increasing web use drawing customers away from their stores. There has been a growing fear that people are “shopping” in the actual store, but then “buying” online. While that consumer pattern is a reality, the survey revealed that 60 percent of consumers are browsing online but ultimately making their purchases locally.
The study revealed certain categories of goods that had strong browse/buy rates, as well as those categories that saw more of one type of behavior or the other. Typical “soft” or non-durable goods such as clothing, cosmetics, books, groceries, toys, baby supplies and pet products had a close browse/buy rate. For example, 33 percent of consumers browsed cosmetics online and 31 percent ended up making an online purchase. “Hard” or more durable goods such as electronic equipment, appliances, cars, computers and sports equipment saw a wider difference between the browse rate and the buy rate, with fewer consumers making web purchases after their research. Case in point: 43 percent of responders browsed electronics but only 34 percent of them hit the Buy button.
While this is good news for local retailers, keep in mind that the trend to buy is definitely going up. Polled consumers in 2014 were asked about their intent to purchase online. The response was double that of consumers who were asked this question in 2011.
What is a brick-and-mortar business to do? Omni channel selling is becoming increasingly popular and will be a good response to consumers who are increasingly browsing and buying online. This retail strategy hopes to turn browsers into customers by making both parts of the process as easy as possible for the consumer. Apple and Sears are two of many companies that allow internet browsers to make their purchase online and have the item shipped for free to the buyer’s local store. Other retailers such as Gap and Coldwater Creek have an “order-in-store” option where customers in the store can order online before they leave. This is a great opportunity for retailers to secure the sale of an item the customer sees and wants, but it is not currently available in their size. Still other retailers such as Bonobos make it easy for men to purchase clothes during a quick lunch break and have the merchandise shipped directly to their home or office.
John Burbank, president of strategic initiatives for Nielsen, summed up the situation well: “Consumers everywhere want a good product at a good price, and the seemingly limitless options available in a virtual environment provide new opportunities for both merchants and consumers.”