Consumers will pay more online if delivery is free
More than half (55%) of consumers are willing to pay more for a product if delivery is free, according to a survey of over 2,000 British consumers by global payment service provider emerchantpay.
Consumers are happy to spend 4.63% more on average says the New World, One Market Report, which examines consumer behaviour post-pandemic.
However, opinions differ markedly by generational group: the majority of Gen Z (76%) and Millennials (62%) are willing to spend more, compared to the majority of Gen X (47%), Baby Boomers (62%) and the Silent Generation (56%) who are not.
The average Gen Z consumer said they would pay up to £3.98 for delivery for an item up to £50 in value, versus Baby Boomers who are only willing to spend up to £1.74. The latter group was most likely to believe that delivery should always be free (48%).
There’s also been a drop in consumer trust following the pandemic, while older generations are less loyal than their younger counterparts. One in five people believe that more than half of online reviews are fake. However, a third (30%) listed product reviews as an important consideration when choosing where to buy.
More than a quarter (26%) said product reviews would encourage them to switch to another brand. But friends (75%) and relatives (71%) were the most important sources for product recommendations, with social media influencing more than half (57%) of Gen Z.
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