Comparison shopping is a growing trend right now, especially among online shoppers. According to PPC Hero, consumers are comparison shopping to find the best deals online, and even using their mobile devices to find deals online while also seeing what’s available in stores. Some online retailers and shopping platforms, including Google, Amazon and Nextag, have even started making some product comparison details available right on their websites to make it easier for those looking to compare prices and other information. So how many consumers take part in comparison shopping? We asked 1,000 respondents on August 30-31 about their shopping habits and thoughts on comparison shopping. Show
 Bargain ShoppingIn Ask Your Target Market’s latest survey, 74% of respondents said that it’s at least somewhat important to them to get the lowest possible prices when purchasing food. 77% like to get the lowest prices when buying home items. 75% like to get the lowest prices on clothing and accessory purchases. 75% like to get the lowest possible prices on furniture and appliances. 73% said it’s important to them to get the lowest prices on tech purchases. And 72% like to get the lowest prices when buying books or entertainment. In general, 79% of respondents said that they consider themselves to be bargain shoppers. Another 79% said they actively try to find the lowest prices for items when shopping. And 78% said that they like to compare prices from different stores or sources before making purchases.More specifically, 17% said that they always compare prices from one or more stores or businesses before completing purchases. 41% said they compare prices most of the time before purchasing. 28% do so about half the time. 10% rarely ever compare prices before purchasing. And just 4% said they never do. Comparison ServicesBut consumers don’t always have to figure out how to compare prices and other features all on their own. 15% of respondents said that they’ve used multiple different price comparison sites or apps when making purchases. And another 14% said they’ve used one such tool. Amazon, Google, Walmart and eBay were the most popular websites used for consumers who like to compare prices. PriceGrabber, SlickDeals, Nextag and eBates were also mentioned.Overall, 60% of those who have used online price comparison shopping tools said they’ve been at least somewhat satisfied with them. In addition, 40% said they are at least somewhat likely to use comparison shopping sites or apps within the next year. Key TakeawaysComparing prices and other details when making purchases is certainly a popular tactic for shoppers. But not many consumers regularly use actual sites or apps designed for that purpose. Those who do were more likely to use comparison tools available from the sources where they actually shop, like Amazon, Walmart and eBay. So for other retailers that want to draw in cost-conscious comparison shoppers, it would seem to be beneficial to make the process really easy for them. Providing a few different options with varying price points or showing a simple comparison tool right on product pages could help customers make better-informed buying decisions. And since many shoppers do like to compare prices and other details before completing purchases, adding such a feature could help businesses speed along the buying process a bit.You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.Photo Credit: happy shoppers by zoetnet under CC BY 2.0What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post. Results were collected on August 30-31 via AYTM’s online survey panel. Products that are bought by individuals or households for personal use What are Consumer Products?Consumer products, also referred to as final goods, are products that are bought by individuals or households for personal use. In other words, consumer products are goods that are bought for consumption by the average consumer. From a marketing perspective, there are four types of consumer products, each with different marketing considerations. Types of consumer products
Convenience ProductsConvenience products are bought the most frequently by consumers. They are bought immediately and without great comparison between other options. Convenience products are typically low-priced, not-differentiated among other products, and placed in locations where consumers can easily purchase them. The products are widely distributed, require mass promotion, and are placed in convenient locations. Sugar, laundry detergent, pencils, pens, and paper are all examples of convenience products. Characteristics of Convenience Products
Shopping ProductsShopping products are bought less frequently by consumers. Consumers usually compare attributes of shopping products such as quality, price, and style between other products. Therefore, shopping products are more carefully compared against, and consumers spend considerably more time, as opposed to convenience products, comparing alternatives. Shopping products require personal selling and advertising and are located in fewer outlets (compared to convenience products) and selectively distributed. Airline tickets, furniture, electronics, clothing, and phones are all examples of shopping products. Characteristics of Shopping Products
Specialty ProductsSpecialty products are products with unique characteristics or brand identification. Consumers of such products are willing to exert special effort to purchase specialty products. Specialty products are typically high priced, and buyers do not use much time to compare against other products. Rather, buyers typically spend more effort in buying specialty products compared to other types of products. Take, for example, a Ferrari (a specialty product). Purchasers of a Ferrari would need to spend considerable effort sourcing the car. Specialty products require targeted promotions with exclusive distribution; they are found in select places. Sports cars, designer clothing, exotic perfumes, luxury watches, and famous paintings are all examples of specialty products. Characteristics of Shopping Products
Unsought ProductsUnsought products are products that consumers do not normally buy or would not consider buying under normal circumstances. Consumers of unsought products typically do not think about these products until they need them. The price of unsought products varies. As unsought products are not conventionally thought of by consumers, they require aggressive advertising and personal selling. Diamond rings, pre-planned funeral services, and life insurance are all examples of unsought products. Characteristics of Shopping Products
Importance of Understanding the Types of Consumer ProductsUnderstanding whether products are convenience, shopping, specialty, or unsought is very important. As noted above, each type requires different marketing efforts. For example, it would not make sense to expend considerable marketing efforts on sugar. There is little differentiation between different brands of sugars and spending money on advertising would not play a role in changing consumer perception. On the other hand, unsought products would require considerable marketing efforts. As a consumer, purchasing life insurance is not top-of-mind; consumers do not normally think about it. Therefore, considerable marketing and advertising efforts are required to make unsought products known and to warrant a purchase by consumers. Additional ResourcesThank you for reading CFI’s guide on Consumer Products. To keep learning and advancing your career, the following CFI resources will be helpful:
Are consumer products that the consumer either does not know about or knows about but?Unsought products are those consumer products that a consumer either does not know about or knows about but does not consider buying under normal conditions. Thus, these types of consumer products consumers do not think about normally, at least not until they need them.
Which type of consumer products are frequently purchased with little planning little comparison?Convenience products are bought the most frequently by consumers. They are bought immediately and without great comparison between other options. Convenience products are typically low-priced, not-differentiated among other products, and placed in locations where consumers can easily purchase them.
Which of the following is an example of a shopping product?Shopping goods are those items bought less frequently, are durable, and are commonly more expensive than convenience goods. Examples of shopping goods include furniture and televisions.
When buying unsought products consumers spend considerable time and effort?Life insurance is an example of a convenience product. When buying unsought products, consumers spend considerable time and effort in gathering information and making comparisons. Consumers rarely compare shopping products before purchasing them. Furniture is an example of a shopping product.
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