|By PR Newswire||
|September 13, 2012 06:18 AM EDT||
CHICAGO, Sept. 13, 2012 /PRNewswire/ -- The fourth installment of a bi-annual pricing study produced by Anthem Marketing Solutions has further confirmed the increased competition between brick and mortar stores and online retailers. By comparing online and in-store prices of widely available products across a range of commonly purchased categories, Anthem discovered that online seems to have an advantage for moderately priced goods between $15 and $45. When we studied prices higher and lower than that range, no clear advantage is evident for either channel.
In an interesting reversal from previous studies, offline stores no longer had a pricing advantage for convenience purchases, defined as purchases with a low ticket price and high need for immediacy. Another difference from previous studies was identified for planned purchases, those that tend to be infrequent with a higher price tag. Online had always had a clear price advantage in this category, which has now disappeared. This substantiates the efforts offline retailers are making to counter the 'showrooming' trend in which consumers use their mobile phones while in-store to find better pricing online.
Realizing product pricing was not the only factor affecting consumer purchase decisions, Anthem decided to also discuss the implications of shipping costs. Shipping costs remain an important factor in the minds of the consumer for free shipping would entice the majority of consumers to increase basket size. Implications retailers summarized how the information found in this study can help consumers and retailers optimize the shopping experience, whether it be online or in a brick and mortar retail store.
View the entire study here: www.anthemedge.com/index.php?/news/pr/online-vs-in-store-study-shows- ... ompetition
About Anthem Marketing Solutions
Anthem Marketing Solutions offers data-driven insights and strategy focused on helping clients acquire, retain and grow profitable customer relationships. Learn more about our products & services at anthemedge.com or email us at firstname.lastname@example.org.
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SOURCE Anthem Marketing Solutions