4 of 5 consumers would abandon a planned purchase, and almost 6 out of 10 would return a product if they encountered flawed product information, according to new research.
The Akeno survey, conducted by Opinion Way, polled 3,500 consumers in seven countries (Australia, Canada, China, France, Germany, the UK & the USA) about their views on B2C product experiences in February 2021.
The survey reveals consumers’ increasingly high expectations for brands to deliver strong, product-driven experiences, as well as their willingness to pay premiums for improved experiences and readiness to avoid brands providing poor experiences.
• 4 out of 5 consumers would abandon a planned purchase, and almost 6 out of 10 would return a product if they encountered flawed product information. • 3 of 4 of consumers would switch brands following a bad experience with product information. • Almost 50% of consumers would pay a 10% or greater premium for accurate product information, with more than one in 10 willing to pay over 50% extra. • More than 50% of shoppers would also pay more for products featuring clear information about brand values such as carbon footprint, product miles, or responsible sourcing information. • Almost 4 out of 5 shoppers are interested in receiving product information using new technologies such as chatbots, virtual reality, or voice assistants.
Summary of UK key findings
• Pay more to know more: 49% of Britons would pay more for complete and good quality product information (12% of Britons are even willing to pay over 40% for this type of product information). • Try in store, buy online: 70% of UK consumers discover products in store before eventually buying online (second globally only to China), while 54% of Britons expect free delivery. • No patience for unsatisfactory experiences: 78% of UK consumers would avoid brands following negative product information experiences. • But only 8% of UK consumers would definitely be willing to pay more for high quality product information, while 45% of UK consumers would not be willing to pay extra for this. • Buying responsibly and locally: 38% of UK consumers would like to see product information around origin & proximity, while 54% would like to see information relating to sustainability (compared to 37% of US consumers).
Summary of key global findings
No purchases for poorly presented products
Over 75% of consumers have abandoned planned purchases due to poor product information. • UK and Chinese consumers are the most likely to buy a different product instead (82% & 89% respectively), while UK consumers are less likely than American and Chinese consumers to return products where the information turned out to be incorrect (56% compared to 65% and 77%, respectively).
Pay more to know more
• Almost 50% of consumers would pay a 10% or greater premium for accurate product information, with more than one in 10 willing to pay over 50% extra. • Nearly half (49%) of Britons would pay more for complete and good quality product information (12% would even pay +40% extra for this peace of mind). • American and Chinese consumers (50% and 71%, respectively) would accept higher costs if it guarantees better product information, whereas the French (39%) are much less willing to do so. • Thinking green, sourcing responsibly & buying locally More than 50% of shoppers would also pay more for products featuring clear information about brand values such as carbon footprint, product miles, or responsible sourcing information. • 38% of UK consumers would like to see product information around origin & proximity, while 54% would like to see information relating to sustainability (compared to 37% of US consumers). • French consumers (37%) are more likely to want to understand their product’s origin, while UK consumers seek out assurances, such as certificates and quality labels (64%).
Robots are our friends
Almost 4 out of 5 shoppers are interested in receiving product information using new technologies such as mobile apps, chatbots, virtual reality, or voice assistants. • 98% of Chinese consumers are open to using all of the above technologies, compared to 73% of Brits and 70% of Americans. • However, 85% of Brits still bought their products in store after researching it online.
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