Without stating the obvious, the internet has changed how consumers shop. But did you know that 8 out of 10 people will spend time researching high-value items for the home online before making their purchase decision?
Again, this makes sense… thrifty shoppers will want to check and validate their purchase decisions before taking the leap. However, how much value do you put on your time?
According to a study carried out by GE Financial, consumers spend between 40 and 137 days researching high-value purchases online before buying, depending on the type of item they are shopping for.
Think of all that time you spend researching what you want, finding a retailer who has what you want and then the time you spend, just checking, if you have the best deal. Think of all the things you could do instead:
- Fitness Items – 49 Days
It takes the average consumer 49 days to research, identify and buy a piece of fitness equipment. Instead, they could list their requirements on Luvo.com and, like frenchman, Thomas Colville did in November 2016, set off to sail around the world!
Thomas Colville holds the record for the fastest, single-handed circumnavigation of the globe which took him 49d 3h 7m 38s. That would certainly have kept him fit!
- Consumer Electronics – 54 Days
We spend 54 days researching consumer electronics goods like home cinema systems and games consoles. Instead, movie buffs could list what they want on Luvo.com and spend 54 days binge watching TV box sets.
Using the simply awesome tiii.me website to calculate how long it takes to watch tv box sets, I worked out that you could watch the following box sets.
|Band of Brother||00:10:00|
|Game of thrones||02:13:00|
|House of Cards||01:20:10|
|The Office (US)||02:17:00|
|Big Bang Theory||03:12:42|
- Automotive Parts – 89 Days
It takes Toyota between 17-18 hours to build one of their vehicles from start to finish on their production line. That means that a whopping 118 cars could be rolling off the production line in the same time it takes the average consumer to research and purchase accessories for their car.
- Home Improvements – 97 Days
Perhaps when you are spending time trawling around household websites and even physical DIY stores the time it takes to buy something for Home Improvement, you could instead think about the journey that Russian space probe Venera 1 which was sent to Venus in 1961.
On average, we spend 97 days research and buying home improvement items – the same time it took Venera 1 to travel the 24 million miles to Venus.
So there you have it… a short list of some of the amazing things people do instead of researching our buying decisions online. The next time you need to buy something, why don’t you let Luvo’s list of retailers and vendors do the legwork for you.
Luvo is a new website launched in June 2017 which allows buyers to create listings of the products/services they need and for sellers to submit proposals. There is a wide range of categories including TV, audio, games consoles, fashion, furniture, baby and nursery items and many more.
Find out more and register to be the first to buy/sell at Luvo.com