Online Retailers Have More Power Than They Might Think

According to research released today, interesting changes in online buying habits suggest retailers have a growing influence on consumer’s online purchase decisions.

Compared to a similar study in 2004, shoppers are starting their online search with fewer decisions made in advance.  

Only 33% had made up their mind in advance about the price they were willing to pay.

31% had not decided exactly which item to choose before starting their online shopping.

Only 16% knew which store they would be buying from online.

Just 13% knew when they were going to make their purchase.

A high number of those surveyed looked to other people’s experiences to help them decide what to buy.

86% of those surveyed started their product search using a search engine.

77% relied on ratings and reviews to help make up their mind.

42% visited three or more sites to research their most recent online purchase.

An increase seen since 2004 is the number of online shoppers who said they ended up buying items not on their list when presented with an appealing offer or promotion, suggesting consumers are now more open to influence by retailers.

The research, sponsored by Bazaarvoice and Richrelevance and based on the JupiterResearch Consumer study; identifies how economic conditions affect future spending, changes in consumer online purchase behaviour, what tools are used before making purchases, how multiple channels change online shopping, and how online retailers can improve the relevance of products and services throughout the purchase process.

“This isn’t a time to bury your head in the sand and go back to familiar strategies, because more standard advertising isn’t what consumers want or need to make purchase decisions” said Sam Decker, CMO at Bazaarvoice, Austin, Texas.

Optimising your site for free traffic from search engines, using the power of PPC for instant page one presence, email marketing with online offers, targeted landing pages, customer reviews on-site, shipping offers, up-sell and cross-sell; all these and more increase your ability to influence your customer’s purchasing decisions. Of course, with the wrong website platform or online supplier, these powerful tools may not even be available to you.

Don’t get left behind, gain a competitive advantage by contacting an Online Consultant at Exceed today to find out how you can move your company onto a platform designed for growth, and partner with NZ’s only eCommerce-dedicated, full-service agency (email or phone toll-free on 0800 Web Store).