Nine in 10 British shoppers now look for bargains when they go online, a new study has shown.
Research from charitable price comparison site Give as you Live found that shoppers spend an average of 32 minutes researching prices before they buy – with only a small minority (7%) not at all interested in comparing prices.
UK consumers are most likely to compare the cost of electrical products, with 81% of the 2,012 UK adults questioned in the study confirming that they did so, and for an average of 44 minutes.
Some 77% of those questioned compared prices on home appliances, spending 47 minutes doing so. Travel prices were checked by 71%, who spent an hour and five minutes on the task, while 47% checked entertainment costs for an average of 20 minutes.
How much items cost was the final deciding factor in buying in most cases, influencing 89% of online purchases.
Steff Lewis, head of consumer insights at Give as you Live, said: “Whether it’s choosing a holiday or buying the next video game, people are paying significant amounts of time comparing prices to get the best deal.
“It’s unlikely that this will ever change, so retailers need to cater for consumers who will want to easily find the best deal and are willing to spend over an hour in some cases to find that deal. Retailers should still be mindful that the service offered and being a trusted brand is still key for many consumers, particularly men. So whilst having competitive prices should remain a priority for retailers, it’s important to make sure they’re getting everything else right too.”
