A Profitero study showed Target’s online prices were 25% more expensive than Wal-Mart’s, which were just slightly more expensive than prices on Amazon.
Study finds that online shoppers are spending more on luxury goods.
Online shoppers are spending more on luxury goods and are doing less comparison shopping before making a purchase, according to a study released this month by Range Online Media, a search and interactive marketing agency.
For the 2009 holiday season, which the agency defines as November and December, average order values for luxury goods increased by $20, or 6%, over the same period a year earlier. The trend continued into the first quarter of 2010. “While the economic recovery is not even near complete, this research suggests that affluent consumers are already shifting their behavior to purchase at a higher price point,” the report says.
The study includes impression, click and similar data from 424 luxury retail brands from the company’s client base, along with company earning statements. Luxury goods include such products as clothes, jewelry and beauty items.
Meanwhile, 88% of luxury good purchases between January and April were completed in three clicks or less, up 17% from 2009, suggesting that buyers of luxury goods are doing less comparison shopping, the study says. The study also notes a 33% increase in searches based on specific designers between January and April than the same period a year ago.
The study further showed that consumers are more often searching for luxury brands, with approximately 20 million search impressions in February, up from about 15 million last year.