Perceive the significance of planned and impulsive buying behaviors at online retail stores.
Identify key product categories purchased at online retail stores based on their shopping frequency.
Key Market IssuesOverall, 52% of business executives stated that their 'planned' online purchases ranged up to '81% and above', while 58% of business executives declared that their 'impulsive' purchases are '20% and below'.
In total, 90% of North American business executives mostly favor 'multi-brand websites' when online shopping. In addition, 'single brand websites' and 'auction sites' are other popular types with 53% and 42% using these respectively.A high percentage use, 'tablet PC or iPad', 'desktop computer' and 'Laptop / Netbook', and 'mobile phone (Smartphone)' to research and purchase a product online. Business executives identified 'unable to assess the product', 'unprepared to pay delivery costs', and 'unsafe personal details' as the critical factors that prevent them from shopping online. Business executives 'always' verify key attributes such as 'price', 'features', 'reviews', and 'special offers', while researching a product online. Conversely, 'delivery modes' and 'return policy' are rarely observed. Key Highlights'Online retailing', 'department stores', and 'drug stores and health and beauty stores' are the top three retail channels for shopping as identified by the business executives. The survey reveals that 43% of business executives spend between ' US$51-100' per visit when shopping online, while 32% spend between ' US$21-50' per visit. In total, 42% of business executives acknowledged that they 'always' prefer 'search engines' as the initial start point for online product research and purchasing. 'Food and grocery' and 'health and beauty' are the principal product categories about which they research online at least 'once a week or more'. Most of the business executives plan to change their online retailer for purchasing 'furniture and floor coverings', 'sports and leisure', and 'electrical and electronics'.