Executive summary of 'impact of consumers' effort investment on buying decisions'

摘要

Purchase decisions are often a complex process whereby consumers balance benefits derived from the product or service against the effort involved in acquiring it. Effort in this case can be manifested in different ways. Time spent searching for products online or by physically visiting retail outlets is compounded by effort needed to evaluate alternatives. Time and effort are frequently perceived as being intrinsically linked, yet acknowledged as discrete resources. Purchase price and the financial cost of conducting these activities are also factored into decision-making. Conventional wisdom claims that significant time and effort expended during purchase consideration may not generate the desired outcome for retailers. Fear that such individuals may abandon their intention to buy has prompted various initiatives aimed at countering the negative effect. Strategic positioning of stores to improve convenience for shoppers, mobile shopping apps and the simplification of making online purchases are some examples.