by Marketing Charts
Fully 93% of adults in the US and UK expect the online shopping experience to be at least equal to – if not better – than the in-store experience, according to results from Coveo’s 2022 Relevance Report [download page].
One of the main reasons for shopping online, per recent research from Morning Consult, is to save time. And it certainly seems as though younger shoppers would be willing to pay a premium for that convenience, according to this latest study. In fact, 6 in 10 Gen Z respondents (born between 1994 and 2001) claimed that they would pay more to find products quicker, a figure higher than the 52% adult average.
With shoppers saying that convenience matters to them more in the discovery than transactional phases of the purchase journey, it’s perhaps no wonder that many would also be willing to shell out extra to discover something new. That’s the case for 54% of the Gen Z adults surveyed by Coveo, again higher than the adult average, this time of 44%. Finally, 53% of Gen Z, versus 44% of adults on average, claimed they would pay more to receive tailored recommendations.
Gen Z’s above-average propensity to pay more for these experiences comes on the heels of research from Ipsos indicating that the share of Gen Z consumers in the US saying they find shopping online more difficult than in-store shot up in 2021 to a level far higher than other generations.
- 91% of survey respondents said they had encountered at least one issue when shopping online during the previous year, with the most commonly cited being slow websites (35%), an inability to find what they wanted (34%), and disorganized app or site navigation (29%).
- About 7 in 10 (69%) would be willing to pay for at least one value-add service that would elevate their experience.
- Some 36% of Millennials (born between 1980 and 1994) said they discover products via social media, the highest figure of any generation.
- 4 in 10 customers reported using guest check out to remain anonymous during purchases, a likely culprit in the difficulties retailers are facing identifying shoppers on their sites.
About the Data: The results are based on a nationally representative sample of 4,000 adults (18+) in the US and UK who use a computer for their work, as part of companies that have more than 250 employees.
Article originally appeared on Marketing Charts.
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