Lottery Ticket Purchasing Behavior
Lottery games are trending in Canada; two in every three Canadians is expected to purchase a lottery game in the next six months. According to a recent market survey ticket costs and the prize money figures are also having a significant impact on the purchasing behaviors of consumers in the lottery market.
We began our research by searching for factors that impact purchasing behaviors and drive loyalty among consumers buying lottery tickets in Canada. For this, we combed through some credible industry databases, reports, articles and market research papers from sources like Ontario Lottery and Gaming Corporation, Issuu Inc., and Dochub. We have included some key factors that impact purchasing behaviors and drive loyalty among consumers buying lottery tickets in Canada. We have also presented the reasons for adding them to this research.
We have found some hard data and stats which collaboratively state that game types, prize amounts, the ease of purchase are some crucial factors that impact the purchasing behaviors of consumers however the risk factor has been chosen upon an assumption; like gambling, people are also very much concerned about the risk factor involved in a lottery game. The factors and the other requested details about them have been presented below.
Key factors that impact the purchasing behaviors and drive loyalty among consumers buying lottery tickets in Canada
Type of Game
There are specific game types which are preferred by a large chunk of the consumer base and is also one of the key factors that impact purchasing behavior. For instance, draw-based games attract more consumers than sports games. 50% of people in Canada chose draw-based games over sports games. According to statistics, 7% of consumers purchased instant win based games while only 4% of consumers bought sports games.
The Amount of Prize
Like every other thing lottery also attracts consumers based on the amount of benefit they can receive from a lottery ticket. In a recently published report from Issuu, people play lottery games with an intent to win a life-changing amount of money. For instance a prize level of $1,000 per day for life is much more preferred to a $7 million lump-sum win.
Ease of Purchase
Consumers prefer the ease of purchasing lottery tickets either through the online channel or through the stores which have a separate section for lottery tickets. Statistics represent that 52% of consumers enjoy the ease of receiving notifications about lottery tickets and prefer purchasing a ticket online. Also, more than half of the lottery ticket purchasers population in Canada reported that they are more likely to purchase a lottery ticket if it was sold at a separate section in the front-end checkout lane of a grocery store.
Canadian lottery ticket purchases fall under the same purchasing demands of global gambling purchasing habits. These habits consider the risk and the price of the lottery ticket to be directly proportional to attract high consumer demand. If a ticket is priced too high and the price reward they would receive is not high enough then the risk is not worth it, and the purchaser will move along or choose another lottery ticket with a better risk reward.