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About a third (34%) are attracted by sponsored ads on social media.
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When asked what types of ads influence pre-purchase decisions, 37% of respondents say they prefer those that directly link them to offers and promotions for their favourite brand or product. Targeted advertising and promotions have captured the attention of 31% of respondents, a number that jumps to 43% among gen Z. Marketers and retailers continue to expand their use of social media-and social media use has important implications for the decision-making process. More than a third (36%) use them while standing in front of a product to compare the price on a competing retailer’s outlet or website. Four in ten consumers use their phones while walking up and down store aisles to access online product information and comparisons. And they increasingly rely on mobile devices when they themselves are mobile. Unsurprisingly, more than half of surveyed consumers answered that they almost always or frequently rely on mobile devices-especially smartphones-and apps for pre-purchase research (56%) and reviews (54%). Next, we asked what devices consumers decide to use when they access these sources. Websites/apps that sell resale, upcycled or previously used products
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Speaking to other people (e.g., friends, family, colleagues) Sites that specialise in price comparisons are visited by 29% of pre-purchasers-a majority of whom are gen Z (see chart below).Īnd although online marketplaces for buying and selling used or upcycled clothing, crafts, electronics and other goods have flourished globally, only 18% of the consumers surveyed said they utilised such websites and apps for pre-purchase research. E-commerce aggregator Amazon came in second, at 35%, followed closely (33%) by individual retailers’ websites, which are also used by 31% of respondents to pore over customer reviews. More than half (54%) ranked search engines as the top source of pre-purchase information. This marked the first time we asked consumers to identify their research preferences. In our most recent survey, consumers told us that they begin by scouring the internet to amass information about a particular product or service, compare prices, read reviews and consider retailers.
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This is followed by a series of pre-purchase behaviours, usually technology-enabled, that ultimately result in experiences they regard as frictionless and effective. The decision-making starts when they reach the point of deciding they need to make a purchase. By the time they unload their shopping cart-either at the end of an in-store queue or on an e-commerce website-they have already made a lot of crucial decisions.
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And by doing so, they can contribute to a more efficient, responsible and profitable marketplace.
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What follows will amplify the voice of the consumer in areas that have long been important, but that are evolving against a backdrop of heightened pressure and innovation: how to leverage technology such as generative AI and chatbots where to invest in customer relationship management (CRM), mobile apps and social media where to build out direct-to-consumer (D2C) and subscription capabilities how to meet customers where they are on issues of environmental, social and governance (ESG) and sustainability and where to capture growth in consumer spending in the coming months.īy bringing greater focus and resources to the point of decision, businesses can get closer to their customers, fostering both paid and earned loyalty. This June edition speaks directly to removing frictions before the purchase experience, and offers a road map on how to reach consumers at crucial points of decision. The theme of the previous Global Consumer Insights Pulse Survey, published in February 2023, was removing frictions at the point of sale or in the purchase experience.
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Our June 2023 Global Consumer Insights Pulse Survey of 8,975 consumers in 25 countries and territories reinforces a clear imperative for companies seeking a competitive advantage: empower your consumers by providing them with the necessary tools, information, technology and support for their decision-making. In a world where it’s hard to get more out of existing consumer spending, converting or finding new customers takes on new urgency.
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