Online shoppers are conducting more research than ever before making a purchase, with 62% using Google Shopping tabs to compare similar products from different retailers, according to a new report by the technology giant.
The research reveals that Google searches comparing similar products have risen significantly. In the last three months, searches for “best coat” increased over 387%, “best deals” rose by 50% and “best hair product” also went up by 50%.
Moreover, the Google Retail Index found that current economic uncertainties were top of mind for many, who expected to alter their seasonal shopping plans to offset the cost of living crisis.
As a result, searches for “inflation” increased by 112% year-on-year among shoppers, although interest in Black Friday continues to accelerate, with searches increasing by 30% year-on-year.
In addition, 47% of fashion consumers have bought from a new retailer in the last six months, a significant increase on 2020 when just 24% said the same.
Moreover, 3 in 4 fashion consumers also said “economic uncertainty” has impacted their Christmas plans, yet three in five said they plan to spend the same amount as last year.
A further 8 in 10 beauty consumers said they plan to spend the same amount or less this Christmas and 49% said they have bought from a new retailer in the last six months.
Some 57% of beauty shoppers also said they browse online before an in-store purchase.
“Retailers know all too well that the key to their success lies in meeting their customers where they are, by catering to their evolving needs and preferences,” Google managing director, retail Kevin Mathers said.
“That’s why we’re sharing insights into their customers’ search and shopping habits and plans for the peak shopping season.
“Our findings point to the fact that people are browsing more, are increasingly open to trying new brands, and respond best to omnichannel shopping experiences, with 30% of UK shoppers today browsing online to decide what they’re going to buy before heading to a physical store to make the purchase.
“Retailers with strategies to capitalize on these trends will reap the rewards.”