How People Spend Money Online

By | November 15, 2016
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How People Spend Money Online. Hey, glad to have you back as always to learn How People Spend Money Online. If you have a monetized website, this is one important metric; that should have in your marketing strategy; “How People Spend Money Online.”  Knowing this, and you will be better abled in knowing how to target your audience. 

The internet is here stay, in fact, it is increasing in use every year:

How People Spend Money Online-internet users increase yearly

How People Spend Money Online

People prefer to shop online these days. Knowing the reasoning behind online shopper spending is important. Learning to do so will have lots of traffic flocking to your online store or website. How People Spend Money Online-questions to ask about online shoppersHere’s what online consumers say are important to them when they spend money online. Learning what the customer wants and applying it to your strategy in the right way at the right time will let you meet these desires, by way of; the competitive intelligence you will gain, and CRM.

From the convenience staying home, the ease of shopping for the elderly and the disabled, the comments below by consumers shows what’s right about online shopping.  The ability to choose from a wider selection, better prices, environment concerns, and not being subject to impulse buying

Here are some reasons consumers give for spending money online:

Convenience:  You do not have to wait in a line or for assistance. You can save time and avoid crowds. 

Better Prices: You can get cheap deals and better prices when you shop online because products come to you directly from the merchant without intermediaries.  Many online stores purchases come with discount coupons and rebates.

Variety:  You can choose from several brands, services or products from different sellers. You can trend shop without the travel.  Online stores offer a far greater variety than you will find locally. 

Purchasing discreetly:  Some buying are better done privately. Shopping online enables someone to buy underwear, lingerie and adult toys being embarrassed. 

Transitioning to the way of online spending

The nation’s biggest brick-and-mortar store chain and the largest online store, respectively, have paved a road for satisfying online shoppers.

Wal-Mart is building two new centers to boost the speed of delivery, while Amazon is increasing its seasonal staff by a whopping 70,000 employees, according to a Simon-Kucher press release.  “Wal-Mart’s competitive issue with the big online retailers is the service battle. because the speed of delivery is what matters most after a purchase is made online.

How People Spend Money Online is not an either/or choice. Knowing what is propelling internet shopping is essential if you want to optimize the shopping experience for your online customers.  Spending money online is part of the continuum of an online experience.

While some things like product quality are always important, there are unique things that happen online influences consumers purchase decision, or drive them away.  Marketers can no longer afford to ignore all the aspects involved, and with this research, you will know where to look.

Positive EmailAttitudes

Half online adults in the U.S. delete most email ads without opening them, went down in percentages less than 50% now from over 59% in 2010.

Respondents in a survey are in agreement that most email ads are offering something of interest as the percentages show: 41% in 2012 to 38% in 2014. So optimizing an email strategy of ted. 

Consumers Impressions of Businesses

A study by Vanessa DiMauro, Don Bulmer and The Society For New Communications Research shows the quality of a product is the most important impact for consumers when judging businesses. 

The following percentages are on some consumers giving their  responses to how they form their impression of a company:

How People Spend Money Online-why consumers prefer shopping onlineQuality of goods – 80%

  • Cost  – 55%
  • CRM – 37%
  • Reviews from people you trust- 34%
  • Reviews – 30%
  • Ratings on social networks – 30%
  • Media publications- 13%
  • The companies ads – 10%
  • Social media presence – 7%

Online Purchase Influence

Bigcommerce, an online store provider, used a collection of studies, identified the top ten factors that cause consumers to make an online purchase decision:

  • Quality of goods- 56%
  • Shipping cost-49%
  • Return policy – 35%
  • Reviews – 33%
  • Online search – 30%
  • Ease of navigation on website- 26%
  • Checkout process – 24%
  • Options – 24%
  • Special size – 12%
  • Time span of product being online – 10%

Consumer Psychology & The Ecommerce Checkout

This study focuses on consumer psychology and preferences at checkout.  What is also convenient for us is that Vouchercloud published the results from some studies to build an infographic.  

“Consumer Psychology & The E-Commerce Checkout” infographic.

How People Spend Money Online-online consumers psyche at checkouts-infographic

Thanks for stopping by, and may you prosper. Please, let us communicate, share a comment or question, and I will get back in touch with you. Good luck with your strategy on How People Spend Money Online and your online business

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8 thoughts on “How People Spend Money Online

  1. Tove Løken

    I don’t think I have read a review that was so informative and detailed before. Great work!
    Your infographic was amazingly detailed and colorful.
    I haven’t read an article about how customers behave on the internet and the reasons why they chose to shop on the internet. Thanks to you I know more about their habits.

    Thanks for sharing.
    Tove

  2. Bailey Ardisone

    You seem to know your stuff! I love shopping online. You’re right, most companies are moving to the online-method more and more. Seems like everyone wants convenience over everything else, plus a lot of times you can save money. Thanks for sharing this!

  3. Maurice Jackson Post author

    Thanks for responding Emma I appreciate it, you know it is inspiring for me when I can help someone in any kind of way.

  4. Emma

    I love shopping online! I even admit that I got a bit addicted at one point! It’s fantastic for people who live away from town and can’t go shopping that often 🙂 Thank you for the great infographics and tips! I have some ideas of how to use these for my own website.

  5. Kathy

    This is a very informative post, something that will be very helpful to online marketers out there. A good part of online marketing is knowing your market and having information like this on buyer profiles, behavior and spending habits will surely help online marketers strategize their moves. Thanks.

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