Are consumers looking for more deals online? It seems like there are more and more places offering discount codes, online coupons, promotions, and deals than ever before. Enter websites have popped up that are devoted to offering deals to their readers. But, are consumers looking for more deals?
As the world becomes more and more interested in digital or mobile shopping, people begin to look for online deals more frequently. In the past, consumers may have looked for coupons in the Sunday newspaper. Or, they may have looked for posters or sales flyers in local stores or at attractions. While people still do this, more and more people are looking for sales online.
Did you know that Amazon sells more than 300 products every second during the Christmas season? That’s just one example of how our shopping habits are changing. But, why are they changing and how does that impact your business?
Face it, running from store to store looking for the best price on something takes a lot of time. Chances are the stores aren’t located next to each other. You need to drive to each one, find parking, look for the item in the store and then compare prices to other retailers. Shopping online takes much less time.
By shopping online, you have access to more stores than you have within driving distance of your home. You may only have 2 electronics stores in your town. But, by shopping online, you have access to 25 or more. This means that you can compare prices and save more money.
Competition is a key to keeping costs competitive. Because there are more stores online, there is more competition for better service and prices. Not only do the stores need to compete with other stores in the same town, they need to compete with all of the stores online.
If you have an online store, it’s important that you keep in mind who your global competition is. Be certain that you stay competitive when planning your pricing and shipping policies.