Average Consumer Considers Purchases For 10 Days Before Buying
- Sunday, June 22nd, 2014
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While the growth of one-click retail suggests that impulse purchasing is at an all-time high, a new study reveals that the average consumer actually takes 233 hours, almost 10 days, to purchase a product online after being targeted by an ad.
The study by Rakuten MediaForge showed there was a considerable difference across various sectors, with fashion purchases being considered for the longest, at 282 hours, while travel was surprisingly the least-considered, at only 176 hours.
While most final purchases were made on desktop computers, tablet devices are increasingly driving purchasing in addition to browsing, making up around 10 per cent of final sales. Tablets were particularly used to buy luxury fashion, travel and childrens products. Childrens products were notably the highest volume of purchases made on tablets, and the fewest number of engagements between initial targeting and purchase, suggesting that busy parents have little time to browse and compare, and value being able to make decisions on the move.
The effectiveness of retargeting was also displayed by the study, with 8 per cent of fashion purchases, 11 per cent of luxury fashion sales and 14 per cent of travel sector purchases made immediately following retargeting. Typically, a customer engages with a brands advertisement 2 to 3 times before a product is bought, although engaging with an interactive banner in some fashion, such as clicking, scrolling, hovering or even watching a video, sees customers convert up to 44 per cent faster.
“Customers are making increasingly considered shopping decisions,” said Rakhee Jogia, director of display at Rakuten Marketing. “Brands therefore need careful planning to target consumers even more effectively, truly taking advantage of each engagement and reducing the delay to purchase.
“With sales taking place across numerous channels, over a number of days, its become ever more challenging for brands to keep the interest of distracted consumers. With the help of data insights and more creative placements, brands can deliver display campaigns that increase conversion levels.”