3 Initial Factors Influencing Online Buying Behavior

Did you know that a significant portion of online shoppers — 65% — conduct research online even when they plan to make a purchase in-store? Moreover, 47% of consumers have tried a new brand for the first time in the past year, highlighting the importance of a strong online presence for brand discovery. Understanding these consumer behaviors is crucial in today’s competitive market, where the digital and physical shopping experiences are increasingly intertwined.

Understanding price management, enhancing user experience, and leveraging social proof can set businesses in a promising direction to better meet the needs of today’s savvy online shoppers.

Price Sensitivity

Price remains one of the most significant factors influencing online buying behavior. With the rise of price comparison tools and discount platforms, consumers are more informed than ever. Shoppers are constantly on the lookout for the best deals, making competitive pricing a crucial strategy for eCommerce businesses. However, it’s not just about being the cheapest.

The Power of Perceived Value

The perceived value of the product, coupled with the urgency created by limited-time offers or flash sales, can significantly impact purchasing decisions. For instance, Amazon’s Prime Day deals are a masterclass in creating perceived value through discounts, exclusive offers, and bundled pricing.

To increase perceived value businesses should communicate the advantages and qualities of products. This involves not just highlighting features but demonstrating how those features translate into tangible benefits for the customer. Businesses can use detailed product descriptions, comparisons with competitor products, and customer testimonials to build trust and showcase value. Then, implementing strategic pricing models such as value-based pricing, where prices are set based on the perceived value to the customer rather than solely on production costs, can reinforce the idea that the product is worth the investment.

User Experience (UX) and Website Design

The design and functionality of an eCommerce website play a pivotal role in the buying journey. A seamless, intuitive user experience can enhance customer satisfaction and increase the likelihood of a purchase. Elements such as easy navigation, fast loading times, and a mobile-friendly interface are critical. Furthermore, the appealing site aesthetic, including high-quality images and clear product descriptions, can create a positive first impression and build trust.

First Impressions Matter

Google’s research indicates that 53% of mobile users will abandon a site that takes longer than three seconds to load. To ensure a strong first impression, businesses should follow a set of best practices:

• The website should reflect the brand’s identity clearly and consistently. This includes using a cohesive color scheme, high-quality images, and readable fonts. The design should be clean and uncluttered, making it easy for users to navigate and find the information they need. Consistency in design across all pages helps build trust and makes the brand appear more professional.
• With a significant portion of web traffic coming from mobile devices, a website must be fully responsive. This means it should automatically adjust to fit the screen size of the device used, whether it’s a smartphone, tablet, or desktop. Google has emphasized mobile-first indexing, meaning mobile-friendliness is a key factor in search engine ranking.
• Fast load times are crucial for keeping users engaged. Research shows that even a one-second delay in page load time can result in a 7% reduction in conversions. Businesses should optimize images, minimize code, and use efficient hosting solutions to ensure their site loads quickly.
• A website’s navigation should be intuitive, allowing users to find what they’re looking for without frustration. This includes having a clear and logical menu structure, well-placed search bars, and easy-to-understand labels. Breadcrumbs and other navigational aids can help users understand their location within the site.
• The content should be relevant, well-written, and engaging. It should answer the users’ questions or meet their needs effectively. Additionally, businesses should ensure that their content is easy to skim, using headings, bullet points, and visuals to break up large blocks of text.
• A website should be accessible to all users, including those with disabilities. This includes implementing features like alt text for images, keyboard navigation, and ensuring that the website meets WCAG (Web Content Accessibility Guidelines) standards. Accessibility not only broadens your audience but also improves SEO.

Social Proof and Reviews

Potential customers who see positive reviews and testimonials are more likely to purchase a product. This reflects the complex buying behavior where consumers seek validation before committing to a purchase.

Consider how Amazon leverages user reviews. Products with high ratings and a substantial number of reviews are prominently displayed, often resulting in higher sales. Now, you even have the option to filter out products with a star rating of 4 stars and up based on customer reviews.

The Modern Word-of-Mouth

In a world where trust is a currency, reviews and testimonials represent modern-day word-of-mouth. Encouraging customers to share their experiences on social media creates a ripple effect of trust among potential customers.

Actively soliciting reviews can be done by sending follow-up emails after a purchase, offering incentives like discounts on future purchases, or making it easy for customers to leave reviews directly on the website or through third-party platforms like Google, Yelp, or industry-specific review sites. The more positive reviews a business accumulates, the more trustworthy it appears to potential customers.