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Factors influencing customers' purchasing decisions on the Internet

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Factors influencing customers' purchasing decisions on the Internet

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Purchasing decisions – what influences them?

The perennial challenge for every retailer operating in a free market economy is finding an effective way to attract customers. The fact that we're facing the fiercest competition in retail in centuries doesn't make the task any easier for the modern entrepreneur. Analyzing how customers make purchasing decisions can translate into the competitiveness of our product offerings.  The growth of the internet, its widespread availability, and the convenience of its use are further intensifying the race to win consumers' hearts. How can rising e-commerce stars attract potential customers in such extreme conditions? Many online store owners spend sleepless nights pondering and calculating: "What can I do to make my business attractive to buyers and keep them coming back?" The proverbial "American scientists" come to the rescue. They conducted a study to determine "what influences customers' purchasing decisions online." After painstakingly testing human behavior, market analysis, and hundreds of hours spent drawing conclusions, they managed to create the following ranking:
  • The top of the podium is occupied by dinner, with a result of 91 percent - as it turns out, everyone likes to save, or rather - no one likes to overpay.
  • Second place was taken by shopping securityFor 89 percent of consumers, knowing that our hard-earned money won't end up in the hands of thieves and fraudsters is very important.
  • The last place on the podium with an 87 percent result is money-back guaranteeAnyone can make a mistake, and the ability to undo a bad purchase is a significant incentive to make it (in Poland, this is what the legislature has guaranteed).
Apart from the competition, it can be added that just behind the podium with a score of 85 percent was fast deliveryAlthough, in my opinion, this factor does not always directly depend on the store, but often on the delivery company.

Source: Internet Retailer / Trusted Shops

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The above article covers the following topics:

  • Factors influencing consumer decisions when shopping online