Resale value is the least influential factor at 15%, followed by recommendations from friends at 26% and product affordability at 30%
Bengaluru:Â As many as 67% of consumers prioritise trusted brands when purchasing new products or services online in the past year, followed by user reviews, discounts and influencer reviews, as per a survey by online marketplace vendor Capterra.
Resale value is the least influential factor at 15%, followed by recommendations from friends at 26% and product affordability at 30%.
As many as 69% of surveyed consumers use social media platforms to start their search when shopping for new products or services.
Meanwhile 67% of consumers choose online marketplaces to start their online search followed by internet search engines (61%), review websites (57%) and individual retailer websites (56%).
Even though social media dominates as the entry point for consumers to start their online search, 65% of consumers still purchase products through e-commerce marketplaces, followed by individual retailer websites or apps (52%).
Digital/mobile wallets have gained traction, with 74% of users utilising them for online transactions. This is followed by 68% who prefer credit or debit cards and 49% who still rely on bank transfers for making payments.
Among the surveyed consumers who tend to purchase from the same brand, 83% are motivated by the quality of products or services, while 65% are driven by price. Additionally, 54% cite loyalty or rewards programs as a deciding factor, and 37% consider social or political issues important.
Consumers are motivated to try out new brands not just by price (59%), but also by other factors such as quality (73%), online advertising (57%), and recommendations from family and friends (52%).
When it comes to product review sources, 44% of surveyed consumers believe e-commerce marketplaces are the most trustworthy sources for product reviews, followed by review websites (43%), social media platforms (33%), internet search engines (35%) and friends or family (31). While 88% of the surveyed consumers feel that the number of negative reviews is a critical attribute when deciding to buy a product.
