A recent GoDaddy survey of 1,500 U.S. consumers has shed light on just how much consumers value cost savings over convenience, with 80% of respondents indicating that saving money is more important than ease of shopping. The survey, conducted in September, highlights a growing trend where consumers are increasingly willing to sacrifice convenience to save money, providing a wake-up call for e-commerce businesses ahead of the holiday season.
According to the survey, 42% of consumers ranked saving money as their top priority, and many are prepared to endure inconveniences, such as paying return shipping, to save money. The findings suggest that businesses may need to rethink their policies and approach to avoid turning away potential customers.
Key Findings:
Annoyances with Returns
- Nearly 1 in 3 (30%) consumers find paying for return shipping more frustrating than dealing with jury duty or visiting the DMV.
- 77% of respondents check a business’s return policy before making a purchase, with 31% of Gen Z and 35% of Millennials doing so for every purchase.
- A difficult return policy was among the top reasons consumers avoided purchasing from businesses via social media.
Consumers Willing to Inconvenience Themselves for Savings
- 62% of respondents prefer to pay with cash instead of paying a 3% surcharge to use a credit card.
- 69% of consumers said they would still shop at a business even if it doesn’t offer Buy Online, Pick Up In-Store.
- 33% of consumers are more likely to drive to a store to shop in person, compared to 30% who prefer shopping online.
When Convenience Matters
- 63% of respondents reported never using personal checks, with only 21% considering them convenient.
- 38% of consumers would abandon an online purchase if the payment page took longer than 10 seconds to load.
“As holiday shopping begins to ramp up, small businesses need to take a look at the ways they could be inadvertently turning customers away. Do you have an extended return policy during the holidays? Do you charge for return shipping? Can consumers buy items online and pick them up in your store to avoid shopping rushes? If not, there’s still time to make adjustments,” said GoDaddy Trends Expert Amy Jennette.
Generational Differences in Shopping Behavior
The survey also highlighted notable differences between generations in their shopping habits:
- Gen Z (41%) is more likely to avoid shopping at a business that doesn’t offer Buy Online, Pick Up In-Store, compared to Millennials (36%), Gen X (25%), and Boomers (25%).
- Gen Z (43%) and Millennials (45%) are more willing to pay a 3% surcharge for the convenience of using a credit card, compared to Gen X (34%) and Boomers (34%).
- When it comes to waiting for a website to load, 47% of Gen Z and 45% of Millennials would abandon the purchase if the page takes more than 10 seconds to load, while 68% of Gen X and Boomers are willing to wait up to 30 seconds.
Additionally, Gen Z (32%) and Millennials (31%) are more likely to shop online this holiday season compared to Gen X and Boomers (36%), who are more inclined to shop in person.
With Black Friday and Cyber Monday approaching, businesses that cater to Gen Z and Millennials in particular should focus on providing convenient shopping experiences.
GoDaddy offers tools to help small businesses meet these evolving consumer demands, including smart point-of-sale terminals that support features like Buy Online, Pick Up In-Store and Tap-to-Pay, as well as real-time inventory management across online and in-person sales.
