Divido surveyed UK consumers to understand the impact of social media on their browsing and purchases of large items.
Currently, only 7% of UK consumers visit stores before making a big-ticket purchase, but more than a quarter of consumers prefer to visit a physical store after an online study (28%).
When it comes to large purchases, Britons are thorough researchers and are not easily swayed by social media. In fact, when it comes to big-ticket purchases, consumers are more likely to be influenced by family and friends, with only 6% of respondents affected by social media campaigns. Interestingly, more than half of 18- to 45-year-olds in the UK believe social media has no impact at all.
In addition to personal advice, British consumers spend many days researching what they want to buy, but this is mostly done through search rather than in-store. Two-thirds of UK consumers prefer to research large items online, whether using a laptop (39%), mobile device (11%) or both (12%).
It is well known that the payment phase of a transaction can determine the sale. Too much friction and sparse choices at checkout can lead to customer churn. 61% of UK consumers said they would remain loyal to the retailer if the payment process were effortless.
According to Divido’s survey, six out of 10 consumers would consider payment methods before making major payments. For example, offering 0% interest payment opportunity to customers can greatly reduce the pressure on consumers, improve the conversion rate, and increase the value of orders by 21% on average.
In fact, British consumers are very interested in installments. 1/3 of British consumers see installment payments as a convenient way to spread the cost of payment. 17% of respondents thought different installments were important when buying in large amounts. And installments can also foster customer loyalty, with 36% of Britons patronizing such retailers again.