Price comparison and pre-shopping tools are changing the way consumers shop and ultimately make a purchase, making it easier for them to find the “best deal” using online services, without having to physically bargain-hunt in each and every store.
When one looks at the number of online pre-shopping and price comparison tools emerging in South Africa, price transparency will become an essential focus of the retail business.
“People are not good at "intrinsically" valuing objects hence they need comparisons as ‘anchors’ to assist their decisions. Having seen a product on a comparison website means that the product is already anchored, i.e. it reduces a lot of uncertainty connected to valuing the purchase,” says Oliver Bryant of Guzzle.co.za.
This is particularly important when considering that 50% of all in store purchases are now influenced online, meaning that shoppers research online and make a purchase offline, according to research from Guzzle.co.za.
Guzzle.co.za is a South African pre-shopping website, where consumers can compare prices of the latest in-store broadsheet promotions and specials currently available from major retailers.
“Generally speaking, price is the first variable in pre-shopping considerations, while guarantees and reputation, the second,” adds Bryant.
Pre-shopping and price comparison tools, dubbed a “new era of price transparency,” by Wal-Mart Chief Executive, Mike Duke, will change the way we think about retail and conduct business.
Retailers must take full advantage by listing their products and promotions on these services now, so as to attract customer loyalty and buy-in, first.
Please feel free to make comments or raise new issues by emailing us
What’s on your mind?
We want to hear from you and what you think about the retail industry in South Africa. You can email your comments and feedback to our editor, .
GraphicMail
GraphicMail is a web-hosted self-service email marketing provider dedicated to helping small business and organisations with their communications – by providing mobile, email and social marketing services that are both cost effective and easy to use. API solutions available for resellers and white-labels. Founded in 2002, GraphicMail is trusted by clients such as Tata and Club Travel.
Call us today-!
5 Things you didn’t know about global basketball brand, And1
1. And1 is the only global basketball brand in the world offering the most extensive range of products in basketball.
2. It offers team kits for schools, teams, clubs and companies in their preferred designs, colours and quantity. Delivery takes between 4 – 6 weeks.
3. The brand is actively seeking distributors for the brand in Africa, particularly in countries with a professional basketball league and an active basketball market.
4. And1 Africa will be opening a minimum of 4 stores in South Africa over the 2013 calendar year as well as publishing Africa’s largest online basketball store from February 2013.
5. And1 has a global travelling basketball tour called And1 Live which showcases some of the world’s best Street Ball legends. It is so successful that Mix Tape DVDs and PlayStation games are available to order.
Visit And1 Africa’s website
Retailers expecting jolly Xmas
South African retailers are expected to enjoy a better Christmas this year, thanks to easy credit and low interest rates. This means breaking total retail sales of R73-billion recorded in December last year, up from R65-billion in 2010. Statistics South Africa data shows a significant spike in retail sales over the festive shopping season every year.
SA household expenditure on the rise
South African household expenditure increased 24.6% between 2005/2006 and 2010/2011, Stats SA said earlier this month. Household consumption expenditure rose from R56 152 in 2005/2006 to about R95 183 in 2010/2011, a nominal increase of 69.5%.
Luxury goods send JSE to 17-year-high
South African stocks closed at all-time highs earlier this month led by Swiss luxury goods group Richemont [JSE:CFR] after a brokerage upgrade and as the market found support from positive economic data from the United States and China.
Britain set to officially exit recession
Britain was set to confirm its official exit from a deep recession last month, although a return to growth would fail to signal a rosy future for the country's fragile economy, according to analysts
Market shift to biometric-based security - Accsys
In a market in which as much as a quarter of people are unemployed, the issue of crime perpetuated against business remains a concern. It is a primary influence behind the rollout of biometric solutions to accurately identify people and effectively control access.
Accsys helps to keep women on top of business
Accsys, a member of the Business Connexion Group (BCX), has received an award for being one of The Top Gender Empowered Companies: Business, Education and Training Award, from Topco Media, publishers of Top Women.
HP Business Intelligence Solutions
The world has changed. The leading indicators that used to predict what was coming are no longer reliable.
Supply Chain Roundtable will drive global competitiveness
Knowledge sharing is critical for South African businesses aiming to compete successfully in the global marketplace, where increasingly complex supply chains, cost constraints and sustainability are among the challenges. This is according to the Gordon Institute of Business Science (GIBS) which has launched a Supply Chain and Logistics Executive Round Table.
Edgars Active celebrates 100th store opening!
The launch of the Edgars Active stores in Sterkspruit and Makhado marks the 99th and 100th store opening since August 2011! The chain has grown exponentially since its launch, and continues to offer shoppers who love brands, great deals on brands.
Fastmoving provides news, insight and analysis into the retail and FMCG industries in South Africa and has been doing so for the last 12 years. We provide marketing services to businesses operating in the retail and FMCG sector by creating dedicated company pages, publishing news releases and offering exposure in our regular weekly and monthly newsletters.
.gif "Cash Connect")
