This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Path To Major Purchases: Digital Tools Enable Consumer Confidence (Graphic: Business Wire)

Stocks in this article: GE

Patience and the pursuit of information pay off, according to GE Capital Retail Bank’s second annual Major Purchase Shopper Study. Empowered by technology, consumers extensively research and compare prices and financing offers before they make any major purchase. More than 80 percent start their search process online from home – up 20 percent from last year – and spend an average of 79 days gathering information before making a major purchase. While consumers carefully consider before they buy, 41 percent of random major purchase shoppers say they are more open to making a large purchase than they were a year ago.

The survey and interviews, conducted by Rothstein Tauber, Inc., a marketing research company based in Stamford, Conn., explored the shopping habits of 3,220 consumers nationwide who had recently made purchases of $500 or more and were in the market for major items in 12 segments including: appliances, electronics, flooring, home furnishings and bedding, home improvements, jewelry, eyewear, power sports products, and lawn and garden equipment. More than 2,200 of the participating consumers were GE Capital Retail Bank (GECRB) accountholders and one third of respondents were random shoppers.

“We took a deeper look at how consumers use digital tools to approach a major purchase, including the role of mobile devices and preferred search engines, keywords and sites,” said Toni White, chief marketing officer of GE Capital’s Retail Finance business. “While online research plays a bigger role throughout the major purchase process, 60 percent of consumers start by visiting a search engine, then go to the retailer’s website, and ultimately, 88 percent made their final purchase in store.”

The availability of financing options continues to be a key factor in the shopper’s choice of retailer, with nearly half of all shoppers researching payment options online before visiting a store. Financing influenced the decision to buy from a specific retailer for 77 percent of GECRB cardholders surveyed, and nearly half would not have made the purchase or would have gone to another merchant if financing was not available, indicating that merchant marketing, awareness and loyalty programs can impact sales.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs