2010 has been a year of consumers researching products before they are purchasing them online. This is according to a study performed by E-commerce monitoring company, PowerReviews. Consumers are doing research to find out the quality of products before they purchase them, how other consumers reviewed products they are thinking about purchasing and where they can get the best prices for products they are interested in.
The study was conducted on a little over 1,000 online consumers who claimed that they purchase products at least 4 times a year online and spend over $250 at E-commerce sites. It was designed to collect data on online shopper’s behavior while they are researching products. Through this study, PowerReviews were able to gather some pretty interesting data on how much consumers will research a product before making the commitment to buy it.
The Categories of Online Shoppers
At the most basic level, it was found that online shoppers who conduct research were split into 2 categories, shoppers who conducted light amount of research (only a few hours before a purchase) and shoppers who conducted a lot of research (sometimes researching a product at excess of a week). It was found that of the people who conduct online research before purchasing a product, 60% of them were heavy researchers and only 29% did light amounts of research. 11% of online researchers were in between. It was also found that of the online shoppers that purchased products, 57% of them found what they were looking for using a search engine.
Most researchers found themselves turning to retailer sites, brand sites and Amazon.com for information on products; especially any of the retail sites that included other customer reviews. The study showed that online researchers find other customer reviews as were one of the most persuading factors in deciding whether or not they were going to purchase a product. In fact, 39% of online customers read at least 8 other customer reviews before completing a purchase. Among the things that deterred online customers from purchasing a product was content and lack of customer’s reviews were the most prevalent.
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