While consumers are far more comfortable with digital shopping, many are still not willing to make big-ticket purchases on the web, according to a recent survey.
The survey of 500 consumers, from exchange-traded funds provider Global X ETFs, found that 40% of customers are comfortable making small-ticket buys digitally. Meanwhile, only 15% of shoppers would make online purchases of more expensive items, such as cars, fine jewelry and property (homes/apartments).
More than half of shoppers are willing to head online to buy clothing (55%) or shoes (43%). But as prices rise, the more wary consumers are — with just 12% of respondents saying they’d buy fine jewelry digitally and only 7% saying they’d get a car via the web.
Around one in five survey respondents said they felt uncomfortable altogether with the idea of buying items online that they hadn’t first seen in person.
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“Technology has advanced at such a rapid pace that consumers are still familiarizing themselves with these revolutionary products,” Global X head of strategy and research Jay Jacobs said in a release. “It’s incredibly exciting to see just how much more room there is to grow for these burgeoning industries.”
While some customers are still reluctant to make large buys online, e-commerce is a booming sector.
E-comm is expected to continue to rise as familiarity with product expands. Case in point: Digital business researcher eMarketer projects the worldwide e-comm market to hit $3.535 trillion in 2019 alone, a 20.7% rise over last year.
A prime example is China’s JD.com. The Beijing-based firm — widely considered one of the largest e-commerce players in the world — last month reported second-quarter profits of $90.7 million. Revenues during the same period climbed 22.9% to $21.9 billion.
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