Just when you thought price points matter the most to buyers on the search for products comes forward a new study that proves otherwise.
The average US shopper is actually willing to pay double the price as long as the product lasts long. And that means products of high quality are more in demand than those that arise at cheaper costs.
While the wish for buyers is for products to last a lifetime, that obviously is a little wishful thinking. But all in all, one thing is for sure, price isn’t the leading factor in buying decisions as proven by the latest survey conducted among 2,000 American adults
An estimated 108% more people were interested in durable products and could pay so much more than the price listed. The only point worth considering is that the product lasts 20 years minimum.
Moreover, at least 3 in 5 people who took part in the survey spoke about how they are more likely to spend funds on high-quality goods and services than something that’s cheaper and lower in quality. And around 70% of people claim they valued those goods the most that last the longest.
61% of people felt that those things they own of high quality come without any type of lifeline. They like to refer to them as ageless and always trending.
The news comes to us thanks to the study put forward by OnePoll. Moreover, on average, people hold on to their products for as long as 15 years and some might even rarely be used.
In terms of the topmost products that are used the most in a person’s routine, despite being old are phones, vehicles, and even watches. On the other hand, those things that are not used as much but people continue to cling to them include the likes of footwear and coats.
Two out of every three Americans feel some items are definitely worth paying for more than others when they last longer in duration. This was true for things like vehicles, applications for your home, crockery, TVs, and phones.
Those that did end up purchasing something at a cheaper cost ended up regretting it big time. As perfectly mentioned by one finance expert, paying cheaper now does not mean you will be saved from paying more in the future.
This is where the concept of buying for life comes into play and it’s a valuable lesson for many people out there.
Paying more at the start can save you from the added mental and physical stress that comes with cheap and low-quality products. Similarly, it can save you great time and effort, and money spent on searching for the good or service.
The study also showed how 70% of respondents ensure their oldest things stay around for a while. And if that means adding an extra level of care and maintenance to ensure they’re working fabulously, then so be it.
50% of those surveyed spoke about owning at least one product that holds great sentimental value in their lives. Moreover, they hope to pass it down one day to those they love the most. And that’s when 57% were also seen speaking about how they value their oldest products depending on how much sentimental value they hold for them, instead of money.
But if forced to sell such products, then they would definitely put out a price tag of $1200 at least. In the same way, it was interesting to note how the study showed that Americans have bought products that come with a warranty of a lifetime. And around 60% of those surveyed say they buy goods knowing they would last the great test of time when purchased.
Read next: This New Survey Shows How Buzzword Compliance Leads to Inflated Tech Trends
The average US shopper is actually willing to pay double the price as long as the product lasts long. And that means products of high quality are more in demand than those that arise at cheaper costs.
While the wish for buyers is for products to last a lifetime, that obviously is a little wishful thinking. But all in all, one thing is for sure, price isn’t the leading factor in buying decisions as proven by the latest survey conducted among 2,000 American adults
An estimated 108% more people were interested in durable products and could pay so much more than the price listed. The only point worth considering is that the product lasts 20 years minimum.
Moreover, at least 3 in 5 people who took part in the survey spoke about how they are more likely to spend funds on high-quality goods and services than something that’s cheaper and lower in quality. And around 70% of people claim they valued those goods the most that last the longest.
61% of people felt that those things they own of high quality come without any type of lifeline. They like to refer to them as ageless and always trending.
The news comes to us thanks to the study put forward by OnePoll. Moreover, on average, people hold on to their products for as long as 15 years and some might even rarely be used.
In terms of the topmost products that are used the most in a person’s routine, despite being old are phones, vehicles, and even watches. On the other hand, those things that are not used as much but people continue to cling to them include the likes of footwear and coats.
Two out of every three Americans feel some items are definitely worth paying for more than others when they last longer in duration. This was true for things like vehicles, applications for your home, crockery, TVs, and phones.
Those that did end up purchasing something at a cheaper cost ended up regretting it big time. As perfectly mentioned by one finance expert, paying cheaper now does not mean you will be saved from paying more in the future.
This is where the concept of buying for life comes into play and it’s a valuable lesson for many people out there.
Paying more at the start can save you from the added mental and physical stress that comes with cheap and low-quality products. Similarly, it can save you great time and effort, and money spent on searching for the good or service.
The study also showed how 70% of respondents ensure their oldest things stay around for a while. And if that means adding an extra level of care and maintenance to ensure they’re working fabulously, then so be it.
50% of those surveyed spoke about owning at least one product that holds great sentimental value in their lives. Moreover, they hope to pass it down one day to those they love the most. And that’s when 57% were also seen speaking about how they value their oldest products depending on how much sentimental value they hold for them, instead of money.
But if forced to sell such products, then they would definitely put out a price tag of $1200 at least. In the same way, it was interesting to note how the study showed that Americans have bought products that come with a warranty of a lifetime. And around 60% of those surveyed say they buy goods knowing they would last the great test of time when purchased.
Read next: This New Survey Shows How Buzzword Compliance Leads to Inflated Tech Trends
