Where would you rather buy? Online, or in store? If undecided, a new study by Anthem Marketing Solutions may offer some answers. The study found changing patterns in online and offline pricing. When compared, items with prices below $15 were cheaper in store, and those priced above $15 were generally cheaper online.
Anthem Marketing Solutions conducted a similar study in the Fall of 2010, when they found that items below $50 were often cheaper in-store. But the trend changed, and the online items appear now to generate more savings than items that you could buy at a normal retail shop. Anthem’s new study was focused on a typical basket of consumer household purchases. The items compared online and in store were the same size, packaging and model number. The prices were recorded across a total of sixteen online and offline retailers on a single day, independent of applicable taxes or shipping fees.
The study is important for consumers to understand how to make the most out of their purchase, but also for marketers, to understand the forces driving consumer behavior. To remain competitive, retailers must optimize channel pricing, and ensure profitability, through more enticing and convenient shipping deals. The study suggests that physical stores may also see a benefit of increasing the online profitability of low-priced items. More information about the study, and other attractive offers, at Anthem.