New report finds.
Only 11% of consumers have a brand or model in mind when purchasing new electrical goods, with 44% saying their ultimate purchase decision was directly influenced by news media, according to a new report released by NewsMediaWorks.
‘The Electrical Goods: Path to Purchase’ report found that the purchase journey takes an average of three months. Advertising plays an important role during this process, with 64% saying they recalled seeing or hearing a specific electrical appliance advertisement in the early stages of the buying process.
This study gathered information from buyers in real time at four distinct stages of their purchase journey: 1. recognising that they need to buy; 2. researching options; 3. forming a shortlist and 4. making the purchase.
New televisions were the most popular electrical appliance consumers were in the market to purchase, followed by refrigerators/freezers, washing machines, dishwashers, vacuum cleaners and air conditioners.
Price was the most important factor in the researching options phase of the path to purchase journey at 58%, followed by product specifications (49%), where to buy (44%), inspiration (28%), recommendations (26%) and reviews (25%).
Catalogues were the most influential paid media, followed by news media and television, in the path to purchase. Overall, consumers turned to organic search (60%) as their preferred means to research products to buy. While one in three (36%) consumers used news media for ideas of what to buy, this increased to one in two (54%) buyers turning to news media to read reviews and look for recommendations.
Warranties and guarantees influenced the final purchase decision for one in three buyers, 52% purchased electrical goods based on the reputation of the brand and the in-store experience influenced some 40% of buyers.
“Buyers of electrical goods see news media as a ‘one-stop shop’ for the key pieces of information they require throughout the path to purchase. Alongside catalogues, news media consistently outperforms other paid media. And three million consumers say the last catalogue they read was found in a newspaper^,” NewsMediaWorks CEO Mark Hollands said.
“When they are ready to purchase, news media comes into its own for credible and independent advice, reviews and recommendations. News media delivers at every stage of the path to purchase and enables electronical goods advertisers to connect with buyers when they are actively seeking information and making purchase decisions,” he added.