Of the many online retailers I’ve work with now and in the past, many of them compete squarely on price and promotional discounts. Of course they do. No surprise.
Category killers, however, know a dirty little secret: “Save perhaps price, free shipping online is king.” And many retailers take full advantage of that secret.
Some don’t. Some retailers depend heavily on the added margin shipping brings to their bottom line. And with vendors like Endless offering free overnight shipping – or better yet, $5 off overnight shipping – it’s difficult for traditional brick and mortar retailers to compete with new, highly price competitive business models.
Notwithstanding, traditional retailers had better take note. Free returns 365 days from the original purchase date and a complete disregard for shipping overhead threaten to put many of our elder retailers on notice. As they should.
Make it low priced. Get it to me fast. That’s what I want.
And so do most consumers as evidenced by a new Synovate survey I commissioned this holiday season. The survey results suggest that price (no surprise) is the most important factor when buying online. And for those consumers who rank price as most important, 41% indicate that free shipping is the second most important factor.
You can check out those stats and other relevant consumer preferences at PRWeb. You can also check out what K.C. Jones has to say about it on informationweek.com.
For the full Guidance press release, see the post below…
For now, keep it low priced, and get it to me fast!