|Looking for confirmation that people go online before they buy offline?|
|Friday, 23 April 2010 11:47|
Kelsey Group study that indicates 97% of consumers use the Internet to research products or services in their local area. What specific online research tools do they use?
According to the study, on average, consumers are using 7.9 different media sources when shopping for products or services in their local area, up from 6.5 sources in 2009 and 5.8 in 2008, revealing a noteworthy increase in audience fragmentation. Additional findings include:
Today, online consumers think nothing of shopping across a retailer’s stores, Web site and catalog. As a consequence, online product research is actually driving more land-store sales than online sales.
The Multi-Channel Retailing report analyzes the factors that are contributing to make online product research a vital driver of offline retail sales.
Any retailer who isn’t using the online channel to promote offline sales—as well as online sales—is missing a huge opportunity.
In 2007, eMarketer estimated that store sales influenced by online research totaled $471 billion. Comparatively, retail e-commerce sales were $136 billion.
Another way to look at it is that for every $1 in online sales, the Internet influenced $3.45 of store sales.
From 2007 to 2012, Web-influenced store sales are forecast to grow at a 19% average annual rate, compared with a 12% rate for retail e-commerce.
Google India, in association with Netpop Research Llc report
Google India, in association with Netpop Research Llc, carried out research to understand the role played by search engines in purchase decisions made by respondents in five retail product categories: media and entertainment, home décor, apparel, electronics and sports equipment.
The report showed that online sources are used to help decide 78% of all retailproduct purchases, typically in conjunction with offline sources. Even among products purchased in retail stores, purchasers spend almost as much time researching online as in stores. The report outlines the role played by online sources and underscores the need for greater investment in online marketing initiatives by retailers. The report also highlights the fact that Indian shoppers rely on search engines, manufacturer websites and other online sources more than store/distributor websites when researching online, making a case for retail store brands to do more to leverage their brand equity online
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