GoDaddy Survey: Consumers Prioritize Cost Savings Over Convenience This Holiday Season
A recent GoDaddy survey aimed to determine how much value consumers place on convenience, and the results suggest it’s not a top priority. The survey, conducted in September with 1,500 U.S. respondents, found that 80% of consumers prioritize cost savings over convenience, with 42% identifying saving money as their main focus. This suggests that many shoppers are willing to accept inconvenience to save money, particularly as the holiday season approaches, signaling that ecommerce businesses may need to adapt their strategies to avoid losing customers.
The Frustration of Returns
The Frustration of Returns
- Around 30% of consumers said that paying for return shipping is more frustrating than tasks like jury duty or going to the DMV.
- A significant 77% of respondents check a business' return policy before making a purchase, with Gen Z (31%) and Millennials (35%) being particularly diligent about this.
- A difficult return process ranked third among the top reasons consumers avoid purchasing from businesses via social media.
When Consumers Will Sacrifice Convenience
- 62% of people would rather pay with cash than incur a 3% surcharge to use a credit card.
- Most shoppers (69%) said they would continue to frequent a business even if it didn’t offer a "Buy Online, Pick Up In-Store" option.
- This holiday season, 33% of consumers plan to visit stores in person, compared to 30% who prefer to shop online.
When Convenience Takes Priority
- The majority (63%) of respondents never use personal checks, with only 21% finding them convenient.
- 38% of consumers would abandon an online purchase if the payment page took more than 10 seconds to load.
“As holiday shopping picks up, small businesses should evaluate how their policies might be driving customers away,” said GoDaddy Trends Expert Amy Jennette. "Do you have a flexible return policy during the holidays? Do you charge for return shipping? Are there options for buying online and picking up in-store to avoid busy shopping periods? These are all factors to consider."
Generational Preferences for Convenience
- Gen Z is the most likely group to avoid shopping at businesses that don’t offer in-store pickup, with 41% saying they’ve skipped shopping at such stores. Millennials followed at 36%, while only 25% of Gen X and Boomers felt the same.
- Younger consumers are more willing to pay a 3% surcharge to use a credit card, with 43% of Gen Z and 45% of Millennials agreeing, compared to 34% of Gen X and Boomers.
- When asked how long they would wait for a website to load before abandoning a purchase, 47% of Gen Z and 45% of Millennials said they wouldn’t wait longer than 10 seconds, while 68% of Gen X and Boomers would wait up to 30 seconds.
Younger generations are also more likely to prefer online shopping this holiday season:
- 32% of Gen Z plan to shop online, compared to 30% who will shop in-person.
- Millennials show a similar split, with 31% favoring online and 30% in-store shopping.
- Gen X and Boomers are more likely to shop in-person, with 36% preferring stores and 29% opting for online.
As major online shopping events like Black Friday and Cyber Monday draw near, small businesses targeting Gen Z and Millennials should consider enhancing the convenience of their shopping experiences.
GoDaddy provides tools to help entrepreneurs run their businesses more efficiently, offering smart point-of-sale systems that support conveniences like "Buy Online, Pick Up In-Store" and contactless payments, while also streamlining inventory management for both online and in-person sales.
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