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Thursday, December 25, 2014

How Technology Changed Holiday Shopping

Holiday shopping has been a marker for consumer sentiment and spending for a long time. Black Friday and the week before Christmas is a span of time that many retailers use to gauge their potential profits for the year. As technology advances the patterns of purchasing are changing as the people stretch their purchasing behavior beyond its traditional boundaries turning brick-n-mortar companies into something more like pick-up locations.

Longer Purchasing Times:

Online shopping allows for a longer purchasing time in search of deals and sales. In the past, consumers would rush down to their local malls and stores in search of product deals. With the advent of the Internet consumers can now make make of their purchases online. They do not need to spend the time and energy fighting other customers. Store foot traffic no longer represents sales.

Searching and Then Buying:

The Internet is used by many consumers as a way of searching out products, finding the best deals, determining locations and then going to the store to purchase. In many ways the Internet has allowed consumers to comparison shop quickly and search through store locations to find the best place to purchase. This means that prices will become more competitive with each other and smaller impulse purchases are less likely.

Consumer Reviews:

Big ticket items take a lot of time and energy to purchase. Buying the right product and scouring stores can waste a lot of time. Some businesses sell the same product more than others. Consumers take a risk when purchasing products. Reading consumer reviews lower this risk and help them make better decisions. Educated consumers are more difficult to take advantage of.

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