Study Finds More Than Two-Thirds of Consumers Chase Deals, Not Merchants

Understanding the three online shopper personas — along with their preferences for pricing and their loyalty to favorite merchants — is essential to creating effective customer blueprints that look beyond typical demographic categories and product-centric segmentation. Indeed, more than two-thirds of online shoppers frequently opt for deals over loyalty, with 38% of shoppers identified as deal chasers, 36% as persuadables and just 26% as loyal customers who prioritize shopping at their favorite merchant over finding the best possible deal.

These are some of the key findings from “At The Checkout: Deal Chasers Versus Loyal Customers,” a PYMNTS and checkout.com collaboration. For this report, PYMNTS conducted a census-balanced survey of 2,030 consumers to discover what factors they consider before checking out, how tech-savvy they are and how various checkout features influence their satisfaction and their subsequent willingness to purchase again from the same merchants.

• Loyalty holds little sway for deal chasers, who comprise the largest share of online shoppers of the three personas.

More than two-thirds of online shoppers frequently opt for deals over loyalty, with 38% of shoppers identified as deal chasers and 36% as persuadables. Among consumers who are highly connected, 40% are deal chasers, while 22% are loyal customers.

• Many online consumers feel dissatisfied with their most recent checkout experience, reflecting an opportunity for online merchants to do better.

PYMNTS data shows that the quality of a checkout journey can determine whether an online shopper wants to return to a merchant for repeat purchases. This sentiment cuts across all shopper personas, with 63% of deal seekers and 64% of persuadable consumers indicating checkout experience as a relevant factor.

• Shopper personas exhibit a measurable disparity in the time they take to finalize purchases.

Deal seekers are more likely to take their time, with 28% investing 24 hours or more to complete their most recent online transaction. By contrast, loyal customers tend to click “buy” much more quickly, with only 11% saying they take 24 hours or more before checking out.

“At The Checkout: Deal Chasers Versus Loyal Customers” examines the purchasing practices of three key shopping personas to understand the key determinants that lead them to click “buy,” including what factors they consider before checking out, how tech-savvy they are, and how various checkout features influence their satisfaction and subsequent willingness to purchase again from the same merchants.

To learn more about the three shopper personas and what drives them to complete a purchase, download the report.