Consumers Spend More on Electronics if Studied First on Web
According to the Center for Media Research, the informed consumer is a better customer!
According to new research from Yahoo! and ChannelForce, consumers who search online for televisions and digital cameras spend ten percent more when making their purchase in-store than those who did not use a search engine. The survey also found that a vast majority research products online prior to making in-store purchases, and that online research is helping consumers make key purchasing decisions before they enter a store.
Key findings include:
Seventy five percent who researched their purchases before visiting a retail location used the Internet as their primary source of information. The leading online resources were retail Web sites (73 percent), manufacturer websites (68 percent) and search engines (49 percent).
Those who search spend an average of $31 more on digital cameras and $46 more on digital camera packages; and an average of $139 more on TVs and $190 on TV packages.
More than 80 percent of consumers who research before making a purchase end up buying a brand from their original consideration set. The remaining 20 percent said the in-store sales person was highly influential in their decision.
About 75 percent of people did not know the model they wanted when they walked into a retail store.
David Rubinstein, senior director, Yahoo! Search Marketing, says "This study confirms and quantifies that a more informed consumer is a more valuable consumer... "
Kurt Higgins, president, ChannelForce, noted "... the brand experience begins well before the shopper walks into the store, and this study confirms how critical the in-store experience is to the consumer's decision..."
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