Consumer Psychology and the E-Commerce Checkout
Online shopping has gone from strength to strength over the last few years and it now accounts for a very large amount of the total online revenue for companies located in every corner of the globe. However, surprisingly little is known about the psychology behind a consumer’s decision to purchase products on the web.
Some of the things that we do know are that the average consumer will take only 90 seconds to decide whether they will make a purchase or not. Furthermore, video is a big influencing factor in the buying process with almost 1/3 of online shoppers buying after being influenced by a video and 50% saying that they had more confidence after watching a video online.
Another big factor that influences the buying habits of consumers are product reviews. A staggering 85% of online shoppers stated that they read product reviews before deciding whether to make a purchase or not, and 2/3 admitting that they will read up to 6 reviews before doing so.
If you have ever wondered why some people get to the checkout process of an online shop and decide not to go through with the purchase, some of the reasons include charges that were not made clear earlier on, lengthy buying procedures, confusing delivery details and a lack of a telephone number to contact.
One thing that is obvious is that everyone likes a discount, with 57% of those who shopped online with a voucher code saying that they would not have made the purchase otherwise.
Consumer Psychology and the E-Commerce Checkout - An infographic by the team at vouchercloud
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