UPS: Online product prices more important than ever

Pulse of the Online Shopping Study finds high interest in online coupons

New York – The percentage of consumer who rate product prices as important when searching for products online has grown from last year.

The number of consumers who focus on the price factor when searching for and selecting product online rose three points to 81%, according to the latest installment of the 2017 UPS Pulse of the Online Shopper Study.

“Most shoppers believe that a better price can be found with a little time and the aid of a smartphone. In fact, a majority of mobile device users, especially millennials, report comparing prices and searching for retailer coupons in order to secure a better price,” the report noted.

While 70% of all consumers said they have compared prices using a mobile device, the number jumped to 85% for Millennials vs. 61% for non-Millennials. In addition, 81% of Millennials said they have used their mobile to search for a retail coupon vs. 58% of others.

Social media still isn’t the primary place consumers look for retail promotion. Just 38% of social media users say they seek out promotions there, including 46% of Millennials. However, 55% of online shoppers who have purchased products on social media said daily deals are important, including 60% of Millennials.

Home Textiles Today Staff | News & Commentary

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