Buyers who like to shop online can find the perfect product on eBay for just $5, while people who like a brick-and-mortar outlet can find a great one for as little as $1.10, according to an analysis by a digital product analyst.
Digital product analyst Tom Smith said that consumers tend to shop in a vacuum, and there’s little point in buying a new digital product unless you’re already on eBay.
“I think a lot of the time consumers are going to be looking for something that they can use for free,” Smith told Newsweek.
“A lot of times they’re looking for a service that they have that’s free or a discounted product.”
The digital product market, which is expected to reach $5.5 trillion by 2020, is growing at a faster rate than the overall US economy, according to the National Association of Manufacturers.
Smith noted that the digital product marketplace is growing as people get more tech-savvy, and a lot more of them want to purchase new and creative products online.
“I would say that in the coming years, it’s going to become increasingly difficult for consumers to be satisfied with just the online marketplace,” Smith said.
“It’s going the way of the car, and people are going away from automobiles to digital devices.”
A lot more people want to buy digital products online, and they are willing to pay more, according Smith.
“We’ve seen an uptick in the number of customers that are willing, and willing to, pay more for a product,” he said.
“You’re going to see more people wanting to buy new digital products on eBay.”
Smith said there are many ways consumers can go about buying digital products for less than the cost of a ticket.
“The main thing you can do is go to eBay and get a product for $10 or $20,” Smith explained.
“The other thing is to go to a brick and mortar store and get an item for $1.”
The online retailer says it’s not just the $1 that people are paying for, but that they’re also willing to buy cheaper items on the spot.
“This is not a place that has a lot in common with a real-world retail store, and that’s where we see the most growth,” Smith added.
“If you can’t get a ticket at a local store, or if you can get a cheaper ticket at another online retailer, then that’s a good deal,” he added.
A digital product can be made at home in less than two minutes.
It’s also a great tool for entrepreneurs, who can create their own products from scratch.
“There are tons of ways to do digital products,” Smith continued.
“You can make a mobile app, you can make it in 3D, you could make it using 3D printers, you just don’t have to be a professional to do it.
You can just do it on your computer and have it ready to go in a minute.”
To find out more about how to shop for digital products at home, Smith recommended checking out our guide on How to Shop for Digital Products at Home.
For more on digital products from Amazon, check out our Digital Products section.