- Angela Gonzalez-Rodriguez |
Online shopping is still met with some reservations by a large number of consumers, according to recent market data. However, retailers could overcome this reluctance by implementing ‘try before your buy’ options.
Many consumers still have reservations about making purchases online because they don't have the chance to see or try on those items first. According to a new national study by Klarna, online retailers could address this consumer concern and grow their business significantly by offering a "Try Before You Buy" option to shoppers.
74 percent of consumers will feel more inclined to buy online if given a ‘try before you buy’ option
Klarna Online Survey revealed that 74 percent of consumers polled said that having the ability to try on or try out goods before paying would remove a major drawback to online shopping.
"Online shoppers do not have the ability to try on or try out items before paying for them as they do when they buy at a physical store," said Elizabeth Bramlage, head of US Marketing at Klarna. "Fashion fit and look can be difficult to judge from product descriptions, digital photos and videos alone. By offering a 'pay later' option, consumers are finally able to bring the fitting room into their own homes and have the peace of mind that they will only ever be responsible to pay for the items they love.
In this vein, a ‘Try Before You Buy’ option will give consumers a set amount of time to receive and evaluate goods before being billed. This alternative to traditional shopping would rank as the number one preferred payment option for buying apparel from an online retailer (37 percent). Other available options such as credit cards (20 percent), debit cards (16 percent), PayPal or store credit cards (11 percent each) come up next.
"These results show that the 'Try Before You Buy' concept would bolster consumer confidence in purchasing goods online and enable retailers to experience significantly improved average order values," further explained Bramlage.
Near three quarters of consumers more likely to buy more from retailers offering this option
Another rising trend noted in this study was that although lower than over the past years, having the opportunity to split payments in three evenly instalments every 30 days or four evenly split payments every 14 days was still favored by many online shoppers (2 percent each). "As we've learned previously from our studies of instant financing options, merchants that go the extra mile to remove friction in online shopping, will find they are rewarded with more business and converted sales,” concludes this study.
71 percent of those surveyed indicated they would use this payment method if it was offered
71 percent of respondents stated they would be moderately, very or completely likely to choose a retailer offering a "Try Before You Buy" option over one who did not offer this option
69 percent of consumers surveyed said they would be moderately, very or completely likely to buy more items from online merchants offering this payment option.
Photo: Try.com web