Economy Driving Customers to the Web

The economic changes are forcing all consumers to look for ways to save money and one of those ways is shopping online. And the latest study by Penn, Schoen and Berland Associates (in partnership with LinkShare) reveals that all those consumers who have turned to the Web are sticking with their new habit!

According to a press released about the study: "With the economy slowing down over the past year, a shopping behavior that for some consumers had been an occasional habit has now become a routine - turning to the Internet to find the best value."

Earlier in the downturn, PSB coined the term "Recession Shoppers" to refer to those consumers. Now they're calling this group "Value Hunters," because the shoppers aren't just comparing prices anymore....they're looking for overall better value and a better experience on the Web!

"These consumers...claimed that as economic situations worsened, they would look to the Internet to find the best deals. Now, months later, even as the economy's vital signs are improving, online shopping behavior shows consumers are still heavily focused on value - in quality price, convenience and time."

Now, according to the researchers, "value" is the new fundamental objective of online consumers! As LinkShare's Yaz! Iida explains, "More than ever before, consumers are searching online for products, services and Web sites that provide value."

Here's a breakdown of the study's findings based on their survey of "Value Hunters:"

• 51% look for incentives when making online purchases
• 63% have purchased something online they wouldn't normally have because of a special offer
• 68% of online shoppers search for value in the form of coupons and special promotions
• 45% purchase something online once a week or more
• 47% prefer shopping online to shopping in-store
• 22% plan to make more purchases online this year than last year

PSB advises that online businesses can "differentiate themselves from competition through value offerings." That means focusing on "pricing, quality and experience."

These businesses must "create an online experience built on value." PSB specifically emphasizes accomplishing this "through the use of an easy-to-navigate Web site!"

At FirstClick Web Solutions, we specialize in helping our customers create a dynamic, engaging Web site that provides visitors with a superior experience, including an online store and e-mail campaigns that promote discounts! If you already have a website with us, but want to take it to the next level, give your customer manager a call.