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The changing scenario of online marketplace

The online marketplace is slowly becoming the first choice of consumers even as inflation increases. Inflation is at its peak. But as inflation increases, people search for offers that support their wallets.

Indeed it is the market strategy of online retailers that attract the attention of consumers. The online marketplace is an easy place to find cheap, affordable, or pocket-friendly good, quality things.

Customers get attracted to the highly competitive online marketplace. Mostly because this competition in the marketplace benefits them. Deal chasers always want the best prices. And so it’s very convenient for customers to change their loyalties.

Although there are few merchants customers show full loyalty to, it’s never enough for them. The deal chasers will always check out other viable options to find better deals. In the online marketplace, this is the easiest task.

Hence a bit of advice to the merchants will be to always keep a check on the marketplace. This also indicates that the merchants should be well aware of the online habits of their customers. And eventually enhance their checkout experiences.

In a survey, it comes out that 38% of shoppers are deal chasers. At the same time, only 36% are persuadable consumers.

This is not only about the financial status of the consumers. More often than not, this is a habit of customers. Surveys also reveal that even platforms have some role to play in browsing and buying. With online marketplace taking all the responsibility in this picture, online payment is also heavy usage.

Moreover, the surveys also talk about the importance of time. For most customers, the speed of shopping matters. Most customers are quick enough to grab deals and complete their shopping.

Many surveys show that most loyal customers and persuadable consumers spend less time making their decision. The decision-making time is less than an hour. This can be a good point for the merchants. However, the online marketplace is always a volatile place.

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