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Striking Pricing Facts That Every E-Commerce Retailer Should Know

For online retailers, it’s no surprise that pricing matters. There are also some striking pricing facts from e-commerce markets worldwide, which strongly proves this fact.

That’s why we’ve collided the most striking pricing facts in e-commerce. You can go through and have a better understanding of the importance of pricing in e-commerce with these quick and powerful stats. After diving into these stats, you may consider handling your pricing efforts from a different perspective.

Let’s have a look these pricing facts that every e-commerce retailer should know;

  • More than 60% of online shoppers worldwide considers e-commerce pricing as the very first criteria affecting their buying decision. (Source)
  • The majority of all online shoppers (around 90%) invest their time to hunt the best online deals. (Source)
  • 71% of online shoppers believe they’ll get a better deal online than in brick&mortar stores. (Source)
  • 54% of shoppers will purchase products left in shopping carts if those products are offered at a lower price. (Source)

  • 46% of online shoppers appreciate e-commerce stores that recreate product comparisons including prices. (Source)
  • 41% of online shoppers look for discount coupons while %23 of them participate in these promotions. (Source)
  • 60% of online female shoppers prefer investing time to find the best deals, which is much more than males – 46%. (Source)
  • An average online shopper will visit at least 3 websites before making their purchase. (Source)
  • 86% of first time online shoppers say it is important to be able to see and compare prices from different sellers.
  • The shoppers who prefer purchasing from big marketplaces are more likely to spend their time to find the best deal compared to average online shoppers. (62% vs 46%)
  • 67% of US online shoppers say that they will buy products from different e-commerce websites to get the best deals. (Source)
  • In the US, 62% online female shoppers pay attention to discounts, on the contrary, 57% online male shoppers evaluate discounts while purchasing online. (Source)
  • Top 3 Most influential factors for US shoppers while buying online are respectively: 87% Price, 80% Shipping Cost, 71% Discounts (Source)
  • 8 of 10 Latin American online shoppers hunt for the best deals before finalizing the purchase decision.
  • French retailers are quite active when it comes to the daily price changes. 5.92% of prices from France are changing every day which is higher than the other 6 countries’ average that is measured to be around 3 percent. (Source)

  • 33.31% of online prices in Canada end with .9 such as $4.99 or $7.59. This data shows us Canadian retailers are keen on using the power of 9 while attracting online shoppers. (Source)

  • 20% of e-commerce traffic for all sorts of product categories come from price comparison engines. (Source)
  • 73% of online stores named price changes as the main factor of competitive pressure. (Source)
  • In a very common scenario, a standard product can be found in at least 5 different online retailers. (Source)
  • A price comparison engine can produce 50 deals in 5 minutes. This fact shows us the power of online shoppers. (Source)
  • Retailer giant changes its prices every 10 minutes on average. (Source)

As you can see from these striking pricing facts, e-commerce companies of all sizes from all around the world should better gear up with their pricing operations and approach it as a group effort, instead of just leaving it to the hands of a single department or a single employee within the company.

 

 

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