Online Shoppers Spend More…in the Store: Outdoor Power Equipment Trends

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Recent TraQline survey reveals dramatic changes in online purchase behavior, with implications for nation’s largest retailers like Lowe's, Sears, Tractor Supply, and Home Depot.

OPE Trends and Market share

OPE Trends and Market share

• While online shoppers spend about 10% more on their purchases, when consumers buy online, they actually spend less – indicating that many of those online shoppers are converting their sales in the store for more money.

Dr. Evan Barrington and David Garcia presented surprising findings recently at the OPEI Market Statistics meeting. Q2 2012 TraQline results illustrate online shopping and purchase trends with far reaching implications for outdoor power equipment trends including:

  •     Customers who shop online for outdoor power equipment has more than doubled in ten years, to 34%.
  •     Online purchases have increased fivefold in ten years, to nearly 11%.
  •     While online shoppers spend about 10% more on their purchases, when consumers buy online, they actually spend less – indicating that many of those online shoppers are converting their sales in the store for more money.
  •     Online shoppers are focusing on retailer’s websites, to a much greater degree than manufacturer’s websites.
  •     Home Depot leads all retailers in percentage of customers who shopped their website, but Sears has the highest percentage of online purchasers.

This data – available in The Stevenson Company’s TraQline product – shows that most consumers who shop online are researching products by comparing benefits and features and reading reviews from other consumers. Far fewer are relying on reviews written by industry experts or manufacturers.

“There is a new kind of customer emerging with these outdoor power equipment trends,” said Garcia. “Increasingly customers are better informed and have more choices. Retailers must adapt to these changes to gain OPE market share and to stay competitive in this rapidly changing marketplace. Bringing customers into the store instead of just online not only gains customer loyalty, but will help increase revenues.”

About The Stevenson Company

The Stevenson Company delivers improved market intelligence for North American retailers and manufacturers. Delivering greater insights into market data such as Outdoor Power Equipment Trends while also delivering exceptional customer service is at the core of The Stevenson Company. Its TraQline solutions provide consumer market research and insights that can be customized based on the individual needs of the retailers and manufacturers. For more information, please visit http://stevensoncompany.com/outdoor-power-equipment-market-trends

For more information, contact Eric Voyer: 502-271-5267 or ericv(at)stevensoncompany(dot)com.

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Eric VOYER

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