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Michelle Romero: Michelle.Romero@syf.com Tyler Allen: Tyler.Allen@syf.com
Article
November 20, 2023, 4:00 PM EST
We've evaluated the consumer journey for big-ticket ($500+) purchases based on our recent study of buying behavior in 13 different shopping categories. Here are the new milestones.
Consumers returning to in-store shopping. Behaviors normalized from pandemic highs.
increase in consumers who made their major purchase in-store
decrease in consumers who made their major purchase online
decrease in mobile device usage in path to making a major purchase
Average duration of the major purchase journey—from the moment consumers determine they want or need the item through the day they make the purchase
Consumers started research online
Consumers used a mobile device
Consumers started research in the store
Consumers are open to using third-party sources to help them make a purchasing decision
Consumers research financing options online
Consumers consider in-store financing to be part of the check-out process
Consumers feel in-store financing is their easiest option
Consumers ask sales associates about available in-store financing offers
Consumers with a credit card issued by Synchrony say they obtain financing in store
Consumers prefer retailers that make them feel welcomed and respected as customers
Consumers prefer retailers that provide a curated shopping experience to streamline the process
Consumers prefer retailers that partner with other companies to improve the shopping experience
Consumers say they prefer to shop at and support brands that align with their values
Purchasing in store by consumers age 65+
The role in-store associates played in their buying decisions, according to consumers
Consumers who obtained financing for their purchase
* Change since 2021 Major Purchase Study
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