A new survey shows that, as economic hardships continue, consumers are prioritizing pricing, transparency, and pre-purchase research as they engage in online shopping. The survey was commissioned by Akeneo, a provider of product information management (PIM) solutions. The survey looked at what factors influence consumer decisions when online shopping, particularly around specific deal days such as Amazon Prime Day.
For years, consumers have flocked to “deal days” such as Amazon Prime Day. This year though, with tariffs and economic factors impacting both pricing and consumers’ spending capital, consumers are being more diligent than ever about making the right purchase, at the right time. With only 67% of consumers confident they get the best price on deal days, more emphasis is being placed on pre-purchase research and informative reviews from other users.
Consumers Place Trust in Other Consumers – User Reviews Are Driving Purchase Decisions
While price continues to be a top factor in purchase decisions, a staggering 90% of consumers say product reviews influence their decision to buy a product or to look for alternative options. As consumers create a review-centric economy, brands need to prioritize authentic, consistent, and accessible reviews and product information. With prices on the rise and the ongoing threat of tariffs, consumers want to spend their money wisely and feel confident in their purchases. Akeneo’s research further revealed:
- 19% say negative reviews impact their decision to purchase (or not purchase) more than positive reviews
- 32% say positive reviews impact their decision to purchase more than negative reviews
Half of Consumers Would be More Loyal to Brands that Absorb the Tariffs Cost
Akeneo’s research reveals that price-conscious consumers are focusing their loyalty on brands that approach tariffs with transparency. However, transparency in the modern day goes beyond just pricing and focuses on values. Because consumers are impacted by the tariffs, with 80% of consumers reporting that their shopping decisions are influenced by the tariffs, and 40% monitoring the changing prices, brands need to rely on loyal customers to succeed and stand out.
Nearly half of shoppers (49%) say they would be more loyal to a brand that absorbs the costs of the tariffs instead of passing them along to the customer, and only 10% say their loyalty isn’t impacted. In this new retail era where economic policy is impacting the checkout page, brands need to clearly and proactively communicate with consumers to earn their loyalty and keep it. Additional insights into how tariffs are impacting consumer shopping habits include:
- 17% of consumers have changed shopping habits due to tariffs (an additional 40% are monitoring them)
- 89% of consumers consider the country of origin when online shopping (16% always do, 48% sometimes do, 33% rarely do)
- 57% say tariffs are impacting their shopping habits on Prime Day specifically
- 25% plan to skip or buy less because of possible price hikes, 4% plan to shop with other retailers
Deal Day Due Diligence: Trends in Research-Driven Shopping
Consistent with previous research, most consumers report price as the most important factor when purchasing a product – and they are willing to do the research to find the best deals. The Akeneo data reveals 60% of consumers conduct research prior to making purchases on deal days, and only 67% believe brands offer the best deals and discounts on major deal days. With 89% of consumers planning to shop this year’s Prime Day, retailers and brands need to ensure their product information and experiences are accurate and relevant to capture the sales of data-driven shoppers looking for a deal.
“As economic uncertainty continues to put consumers on edge, providing a transparent, consistent product experience has never been more critical to brand loyalty and customer conversions,” said Romain Fouache, CEO at Akeneo. “Consumers are conducting their due diligence – not just around the best deals and pricing, but around the quality, consistency, and reliability of products – to ensure they’re fully confident they’re getting what they pay for before they click purchase.”
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