January 24, 2017
The shopping habits of daily online shoppers compared to occasional online shoppers vary significantly, according to a recent report, especially in the adoption of mobile shopping. FuturePay, a Salt Lake City-based company that helps online merchants extend credit to their online customers, found daily online shoppers—as might be expected—are more comfortable using a mobile device to shop and pay. Overall, 77 percent of online shoppers prefer to use a desktop or laptop to research products and 82 percent prefer one to buy. When broken down by frequency, however, the company found 31 percent of daily shoppers preferred to do their research via mobile, compared to 12 percent of occasional online shoppers. Daily shoppers also reported being more familiar with alternative, non-credit-card payment options, the company said.
Daily shoppers’ comfort also extended to big-ticket items. Around 75 percent of daily online shoppers have purchased an expensive item like furniture or an appliance via an e-commerce Website, compared to only one-third of occasional shoppers. Merchants that are able to identify the frequent online shoppers among their customers can leverage this information to increase conversion. One way, according to FuturePay, is to offer alternative forms of credit. Seventy-nine percent of daily online shoppers indicated they would be more likely to make a big-ticket purchase if they could break it up into smaller payments.
“Changing shopping habits, and the emergence of new e-commerce and payments technology, has made it difficult for retailers to predict whether or not consumers will pull the trigger on purchases—particularly when it comes to ‘big ticket’ items such as electronics or appliances,” said Bobbi Leach, CEO of FuturePay. “Our study’s findings highlight how alternative, non-credit card payment options and financing can help retailers improve their top line by better catering to the needs and preferences of today’s online shoppers.”