News • 25.06.2019

Overspending is common when shopping online

Report on digital spending and its impact on American's credit card debt

Woman sitting in a shopping cart driven by a man, throwing bank notes away;...
Source: panthermedia.net/EdZbarzhyvetsky

About 2 in 5 (42 percent) of consumers admit blowing their budgets while online shopping in the past 6 months, according to new research from CouponFollow, an online couponing platform. The new report surveyed over 1,700 American consumers on their spending and credit card habits to expose potential links between digital spending and debt while examining generational differences.

"While most consumers admit to occasionally overspending, retailers should take into account just how savvy many shoppers really are," said Marc Mezzacca, CEO of CouponFollow. "Those using credit cards show a clear preference for cash-back, low-interest, and reward cards. And shoppers across the board are clearly committed to seeking out discounts."

Key survey findings include:

  • Overspending is the most commonly reported problem for online shoppers; two in five respondents said they had "blown their budgets" online within the past six months.
  • For many consumers, online shopping and credit debt go hand-in-hand: Around 29 percent reported they'd gone into debt in the past six months due to online purchases.
  • More than half of online shoppers prefer debit cards to credit cards, and those who do opt for credit are usually choosing cash-back cards.
  • Deal searching is overwhelmingly central to the online shopping experience; over 78 percent of shoppers are searching for coupons before completing a digital purchase.

The report also highlights more detailed spending and debt ranges: More than a quarter of respondents reported reaching a credit card balance over 1,000 dollars from online shopping in the past, but most shoppers said 100 - 300 dollars was the most online shopping debt they'd ever carried.

"Two-thirds of American consumers place at least one online shopping purchase per month, and that trend will only continue to grow," said Mezzacca. "But 18 percent of those shoppers said they never splurge online. So, retailers have an opportunity to better cater to these deal-hungry shoppers and find new methods of earning their business."

For more information, download the full report "The State of Online Shopping and Credit Card Usage Habits In 2019".

Source: CouponFollow

related articles:

popular articles:

Thumbnail-Photo: 5 tips for successful TikTok marketing for your online store...
06.09.2023   #online trading #marketing

5 tips for successful TikTok marketing for your online store

How to gain loyal fans for your brand

TikTok is the Wild West of social media: Everything is moving at lightning speed and you only have a blink of an eye to captivate users. If you spend a lot of time on TikTok, you'll know right away...

Thumbnail-Photo: Social Commerce: Community sells?
04.10.2023   #online trading #sustainability

Social Commerce: Community sells?

Why the community approach is replacing fast delivery among customer demands and what that means for you.

For a long time it was said that fast or even "same day delivery is the key". For Fabian Mischler, this is no longer the only key to satisfied customers. In an interview, the CEO of the social commerce platform ooblee told us why community ...

Thumbnail-Photo: Be different – be successful
24.08.2023   #brick and mortar retail #customer satisfaction

Be different – be successful

10 examples of how retailers can differentiate themselves in the market with unique shopping experiences

The grey blob – no one wants to be part of it. Small and medium-sized retailers in particular need unique selling propositions to be able to assert themselves against the competition from companies worth billions. But what can ...

Thumbnail-Photo: Black Friday and Cyber Monday: Minimize mistakes, maximize success...
11.10.2023   #e-commerce #customer satisfaction

Black Friday and Cyber Monday: Minimize mistakes, maximize success

Mistakes you can avoid on promotion days like Black Friday and Cyber Monday

The promotion days on November 24 and 27 raise the sales hopes of many retailers. Despite the huge potential, these events can also be a challenge. Competition is fierce, customers are critical and expect exceptional deals. Mistakes in preparation ...

Thumbnail-Photo: Tips: Optimal shopping experience for  Christmas...
22.11.2023   #online trading #artificial intelligence

Tips: Optimal shopping experience for Christmas

How to prepare for the shopping days as an Amazon retailer

The promotional days at the start of the Christmas...

Thumbnail-Photo: The quiet hour – A contribution to inclusion in retail?...
31.10.2023   #customer satisfaction #marketing

The "quiet hour" – A contribution to inclusion in retail?

Finding calm in a busy world: supermarkets make their mark

The world of commerce is constantly looking for new ways to attract and retain customers...

Thumbnail-Photo: ISE 2024 - the future of retail
23.10.2023   #online trading #Tech in Retail

ISE 2024 - the future of retail

ISE will take place in Barcelona from 30 January to 2 February 2024

Since it began in 2004, Integrated Systems Europe (ISE) - the world's premier exhibition for professional audio visual (pro AV) and systems integration - has grown in size, strength and influence to become an industry-defining event. Every year, ...

Thumbnail-Photo: Scary and clever - marketing for Halloween
20.09.2023   #brick and mortar retail #online marketing

Scary and clever - marketing for Halloween

How do you make the most of 31 October for your business?

Small means, big effect: On Halloween, you can get in touch with your customers in a playful and not too serious way....

Thumbnail-Photo: Christmas decorations: set the scene for your store!...
09.11.2023   #customer experience #shop decoration

Christmas decorations: set the scene for your store!

From the floor to the shelves and lights to the shop window - here's how to get your store ready for Christmas!

The weeks leading up to Christmas Eve are considered to be the busiest of the year....