GoDaddy survey reveals consumers willing to
inconvenience themselves to save money
TEMPE,
Ariz., Oct. 2, 2024 /PRNewswire/ -- A new
survey by GoDaddy set out to uncover how much convenience is worth
to consumers. It turns out, the answer is not very much.
An overwhelming majority (80%) of 1,500 U.S. consumers surveyed
in September say cost savings is more important than convenience,
with 42% ranking saving money as their top priority. These
cost-conscious consumers are prepared to endure inconveniences to
save money this holiday season, highlighting a case for ecommerce
businesses to adjust their approach to avoid potentially alienating
customers.
Making returns is a bone of contention
- Nearly 1 in 3 (30%) consumers find paying for return shipping
more annoying than jury duty and going to the DMV
- The vast majority (77%) of people often check a business'
return policy before making a purchase, with 1 in 3 Gen Z (31%) and
Millennials (35%) doing so before every purchase
- A difficult return policy was third among the top reasons why
consumers wouldn't purchase an item from a business via social
media*
When consumers are willing to sacrifice convenience
- Most (62%) people would rather pay with cash than pay a 3%
surcharge to be able to purchase an item with their credit
card
- The majority of consumers (69%) said they will still shop
at a business even if it doesn't offer the ability to "Buy Online,
Pick Up In-Store"
- Consumers are more likely to drive themselves to a store (33%)
to shop in-person vs. stay home and shop online (30%) this holiday
season
There are still some cases when convenience wins out
- The majority (63%) of survey respondents report never using
personal checks, with only 21% feeling they are convenient
- Almost 4 in 10 consumers (38%) would abandon an online purchase
if the payment page takes longer than 10 seconds to load
"As holiday shopping begins to ramp up, small businesses need to
take a look at the ways they could be inadvertently turning
customers away," said GoDaddy Trends Expert Amy Jennette. "Do you
have an extended return policy during the holidays? Do you charge
for return shipping? Can consumers buy items online and pick them
up in your store to avoid shopping rushes? If not, there's still
time to make adjustments."
When it comes to prioritizing cost savings above convenience,
younger generations seem to be experiencing a notable shift in
mindset.
Gen Z is the most likely to shop around if a business doesn't
offer the ease of in-store pickup. When asked if they have ever not
shopped with a business because it didn't offer Buy Online, Pick Up
In-Store:
- Gen Z – 41% said yes
- Millennials – 36% said yes
- Gen X and Boomers – 25% said yes
Gen Z and Millennials are more likely to pay extra just to use a
credit card. When asked if they'd be willing to pay a 3% surcharge
to be able to purchase a product or service with a credit card:
- Gen Z – 43% said yes
- Millennials – 45% said yes
- Gen X and Boomers – 34% said yes
When asked about how long they would wait for a website to load
before changing their mind about a purchase:
- Gen Z – 47% would not wait 10 seconds
- Millennials – 45% would not wait 10 seconds
- Gen X and Boomers – 68% would wait 30 seconds
Gen Z and Millennials are more likely than older generations to
shop online vs. in-person this holiday season:
- Gen Z – 32% said they're more likely to shop online compared to
30% in-person
- Millennials – 31% said they're more likely to shop online
compared to 30% in-person
- Gen X and Boomers– 36% said they're more likely to shop
in-person compared to 29% online
With some of the largest online shopping holidays like Black
Friday and Cyber Monday quickly approaching, small businesses that
cater to Gen Z and/or Millennials in particular should look for
ways to provide convenient shopping experiences for consumers.
GoDaddy helps entrepreneurs run their business efficiently and
offers smart point-of-sale terminals to meet consumer
conveniences like Buy Online, Pick Up In-Store and Tap-to-Pay,
while supporting streamlined small business capabilities like
real-time inventory management across online and in-person
sales.
To learn more about GoDaddy and its products, visit
www.GoDaddy.com.
*The top two reasons people would not purchase an item on
social media were uncertainty if a business was legitimate and high
shipping costs.
About GoDaddy
GoDaddy (NYSE: GDDY) helps millions of entrepreneurs globally
start, grow, and scale their businesses. People come to GoDaddy to
name their idea, build a professional website, attract customers,
sell their products and services, and accept payments online and
in-person. GoDaddy's easy-to-use tools help microbusiness owners
manage everything in one place and its expert guides are available
to provide assistance 24/7. To learn more about the company, visit
www.GoDaddy.com.
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SOURCE GoDaddy Inc.