A new report on the ecommerce landscape in Portugal has just been released and goes over the most fundamental aspects of online purchasing decisions for Portuguese consumers. The study also looks at several other pieces of data about the industry, such as the growth of ecommerce in the country, the importance of security, and more.
Economic Factors Influence Purchasing Decisions in Portugal
According to the new report from ConsumerChoice on the ecommerce landscape in Portugal, economic factors play a central role in the purchasing decisions that consumers make. Among those surveyed for the study, 73% said that competitive pricing is a determining factor in deciding what to buy.
In addition to that, 71% highlighted the importance of promotions and discounts. As you can see, there’s plenty of price sensitivity in Portugal, and the price a person can get an item for has a huge impact on purchasing decisions.
Another thing that points to how increasingly rational Portuguese consumers are becoming is that 51% of survey respondents use price comparison websites before purchasing to make sure they get a good deal.
The report also found that trust, security, and a straightforward user experience play an important role in purchasing decisions, as well.
Ecommerce Becoming More Popular in the Country
The report also briefly mentioned how much more relevant and popular ecommerce is becoming in the country. According to the study, 63% of respondents have increased their online purchases over the last two years, and 32% of them make regular online purchases on a monthly basis.
This echoes other recent research that also found that ecommerce in Portugal is growing rapidly, with people shopping digitally much more frequently than in the past.
Other Important Insights From the Study
In addition to the statistics about what drives purchasing decisions in the country and details about the growth and size of the industry, the study featured several other useful insights for ecommerce brands to keep in mind.
First, the report goes over some security-related statistics about the industry. While 80% of respondents haven’t been victims of fraud or scams when shopping online, 47% say that they know someone who has.
This shows that even if people haven’t been victims of a scam themselves, they often know someone who has, which may be enough to make them worry about shopping online or buying from certain places.
In fact, the knowledge and fear surrounding the prevalence of online scams and fraud lead 67% of respondents to occasionally avoid certain platforms or stores. As a result, while pricing is a major driver of where people shop, they also want to be able to trust and feel comfortable with a platform.
They also want to ensure their payment details are kept safe, as payment security is an important aspect of online shopping, and was mentioned by 45% of respondents.
Next, the study found that marketplaces are the main purchasing channel in Portugal, as they’re used by 81% of respondents. The next most popular channels are official brand websites (54%) and physical retailer websites (41%).
Finally, data revealed that the most frequent product categories that Portuguese shoppers purchase online include fashion and accessories (64% of respondents) and technology and electronics (54%).
While Portugal isn’t the largest European ecommerce market by any means, it’s growing steadily and is an important region for ecommerce sellers operating in Europe to keep in mind.
