Posted May 23, 2011 2:11 pm by with 2 comments

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When it comes to finding information about items they’d like to purchase, 69% of the respondents in Yahoo’s new study said they trusted the internet. They study is called “The Long and Winding Road: Gamesmanship of Shopping” and it’s the lead up to a webinair they’ll be delivering later this week.
The concept they’re after here is that thanks to the internet, consumers have the ability to do a lot more research before a purchase than they could in the past. They’re using search engines and online content to explore their purchase options and getting recommendations from friends through social media. Because of this, buyers are less impulsive, which isn’t necessarily the best news for marketers.

One thing that does spur a buyer on to faster action is the deal.

  • 82% of consumers said that finding a great deal on a product contributed most to the feeling of winning.
  • 60% mentioned the competitive aspect of shopping, saying that getting a better price than other people made them feel like a winner.
  • 69% of shoppers now seek more deals and coupons online.
  • 49% of shoppers use more coupons now because of the Internet.

Deals are WINNING! But you already knew that.

The overall conclusion here is that shopping is no longer a solo sport. It’s a collaborative effort, with consumers taking the time to seek out information and recommendations on all kinds of purchases, not just big ticket items.

For the marketer, this means making sure that the information is out there and that it’s easily accessible. If a consumer can’t glance at your website and find out the size, color, availability or durability of an item, they’ll move on to the competitor. . . unless, of course, you make them an instant offer that they can’t refuse.

  • The trend for eCommerce does change, from single buyer to group buy, that’s why groupon and other group buy websites are so popular. Which means we have to focus more on word of mouth marketing, do something to trigger them to spread your brands and your products rather than forcing them to buy from you.

  • Even if an offer is presented… assuming it is over a $10-20 purchase, I’m gonna do my due diligence to see reviews/recommendations online for a couple of minutes prior to making the purchase… the deal is still gonna be there 5-10 minutes later, and at the same time, I might even find a better deal.