Traditionally, the website selling a particular product at the lowest price has a huge advantage over the competition. However, according to a recent study from Shopzilla, that may be changing.
The survey of about 2,000 online shoppers revealed that 49% of shoppers considered the price to be most important factor in making a buying decision. That is down from 59% in 2003.
So what factor is taking the pace of price? The answer may surprise you–18% of shoppers said that customer feedback is the most important factor. Only 7% picked customer feedback in 2003.
As the web becomes more and more dominated by user generated content, it is obvious that customer feedback about companies and products will continue to grow in importance. This trend especially gives hope to small online retailers that cannot compete on price, because smaller companies should normally have an advantage in customer satisfaction.