Beat Pre-purchase Anxiety

Stressed person using computer

Consumers are vulnerable to a range of rational and emotional anxieties during the critical moments immediately before a potential sale. These anxieties are usually triggered by a range of factors including cost, value, suitability, available alternatives, and how other people will view their purchase. There is also the so-called ‘paradox of choice’ - the idea that too many options can cause a consumer psychological distress.

55% of shoppers say they have abandoned a purchase because they "didn't feel confident" about it


Lacking information and support

Our latest consumer research clearly shows a significant proportion of online shoppers suffer pre-purchase anxiety triggered by a lack of information/support needed to buy online with confidence. In fact, lack of information/support is second only to slow websites and expensive delivery options when it comes to reasons why shoppers abandon their online basket. This is most acute in the case of high value, complex purchases.

The psychological phenomenon: Buyer’s remorse

These factors not only influence the consumer’s decision to buy, they also feed into a psychological phenomenon, known as buyer’s remorse. Simply put, this is how satisfied a shopper feels post checkout, and how likely they are to shop again with a retailer/brand.

Buyer’s remorse is triggered by a range of negative emotional responses from frustration and anger through to disappointment to despair. It also includes concerns over how wise a purchase has been and whether the consumer has received a good deal.

Shoppers are vulnerable pre and post purchase. They need help and support to ensure they not only convert to a sale but feel great about their purchase afterwards, building customer loyalty and advocacy.

Fight the fear factor: The solution

Our research suggests that consumers’ pre-purchase anxiety can be best cured by a unified and integrated approach to customer engagement, with responsive real-time, expert human interaction at its pinnacle for high-value, high-consideration purchases.

Consumers want to use the best solution available to address their questions, switching seamlessly between channels as their buying journey progresses. Retailers and brands who offer their customers a full suite of integrated engagement solutions - from SMS, to human interaction - will not only be able to prevent high-intent customers slipping through their fingers at the last moment, they'll also be able to collate and leverage customer data throughout this process. A high level of integration will ensure retailers and brands build a far superior view of their customer and what makes them tick, collecting all their buying signals and using them to maximum effect whenever they embark on a purchasing journey.

The question for retailers and brands is how can this be achieved profitably, at scale, in a fast-paced operational environment? The answer is automation, driven by artificial intelligence. For example, only AI can analyse customer enquiries at speed and at scale, so that engagement platforms can identify high-intent customers embarking on high-consideration, high-value purchases.

Starting valuable conversations

Having identified these customers retailers and brands can then commit the time, resources, and money to have a detailed online discussion with a sales advisor or independent product expert. AI is also key when initiating these discussions so that enough information can be gathered from a customer before a human sales advisor can take the reins. This approach guarantees the speed and convenience the consumer demands while also delivering the required results.

To find out how, or for more research and statistics from iAdvize, download your copy of "Why do brands abandon high-intent customers at the point of purchase?"

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