Buyer Behavior and the Internet
Paul Gibler of Wisconsin Technology Network wrote an insightful article about how buyer behavior has evolved alongside technology. The article focuses on the myriad of online sites and tools that allow consumers to research products before they buy. There is some discussion of price comparison engines and video product review sites - such as ExpoTV. A brief excerpt from there article:
According to an eMarketer’s report, a recently completed Opinion Research Corporation study found that “a full 61% of respondents said that they had checked online reviews, blogs and other online customer feedback before buying a new product or service.”….eMarketer also reported on another study finding that 46% of online buyers looked at 4 - 6 reviews before buying a product….Among the other tools that consumers are using in their shopping activities are watching product videos. They are visiting retail and manufacturing sites to see products in use, are viewing videos when visiting content sites that publish product reviews like CNET (for electronics) or Edmunds (for autos) or visiting review video web sites like Expotv.com.
Other online tools buyers are using to facilitate their purchases are coupon and/or discount code sites. The article concludes with some implications for retailers in terms of how to make these sites and others like forums and blogs work for them rather than against them.
Add comment August 15th, 2008
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