As shoppers become smarter and more informed—using online channels to evaluate options, socialize about brands, and find the best deals— they are becoming less impulsive when making purchase decisions, according to a new survey from Yahoo.
Moreover, the process of buying online—learning about products and discovering the best deals, particularly via social channels—has become fun and collaborative, akin to a game for consumers, according to the study.
Below, other findings from Yahoo's report titled The Long and Winding Road: The Gamesmanship of Shopping.
More than one-half of consumers (55%) say they shop less impulsively because of the Internet; only 17% say the Internet makes shop more impulsively.
Meanwhile, trust in the Internet is strong: 69% of consumers say they trust the Internet for researching their purchases, whereas 43% trust magazines and 35% trust TV.
Social Media
Social media, particularly consumer-generated product reviews, are playing a big role in the gamesmanship of shopping among surveyed consumers:
- 49% say they give advice to others, motivated by a feeling of solidarity with other shoppers.
- 59% believe they have an advantage over manufacturers or retailers because the Internet allows them to seek other opinions.
- 25% are more likely to seek others' opinions now that social networking/online communities are available.
Meanwhile, shoppers are often more likely to seek consumer-generated sources than information from brands, particularly in when buying electronics (48% vs. 35%), financial products and services (19% vs. 2%), retail items (12% vs. 1%), and over-the-counter meds (12% vs. 1%):
Looking for great digital marketing data? MarketingProfs reviewed hundreds of research sources to create our most recent Digital Marketing Factbook (May 2010), a 296-page compilation of data and 254 charts, covering email marketing, social media, search engine marketing, e-commerce, and mobile marketing. Also check out The State of Social Media Marketing, a 240-page original research report from MarketingProfs.
Creating a "Wow" Experience
Although price is always a factor, other triggers can help consumers feel they are winning the game of shopping. Asked which factors contribute to creating a "wow" experience while shopping, consumers cite the following:
- Finding a great price or deal on a product I want: 80%
- Getting a better price than other people: 60%
- Finding a rare or hard-to-find item that I want: 53%
- Discovering a great new product: 47%
Digital Ads
Digital advertising plays a role in the shopping game, too, by spreading information on features, price, and place.
Asked what types of information consumers have found via digital ads, 40% cite features and specs, 36% cite pricing, and 34% cite how or where to buy products.
Nearly one-third (31%) of consumers say ads have made them feel closer to a brand.
About the data: Findings are from a survey of 2,485 consumers age 18+ who shop online, conducted in September 2010.
