Sunday, July 23, 2006

Cool Shopping Facts

An interesting post on the website for The Centre for Media Research on July 20th. I've copied the best parts below, which explains the length of this blog entry.

As we are about to launch any day now, it is great to hear that so many people make it a habit of researching products on line that they ultimately plan to buy in a brick and mortar store (B&M). I believe that these percentages will only continue to climb as the internet continues to become a more and more useful tool. Even more encouraging is the fact that this article does not even address the number of people who both research and buy products on-line. I for one would like to see the combined numbers from the above two groups of consumers.

I see no surprises in the top five researched items. I would've ranked them in exactly that order. I was as surprised as the author to see ranked in the top five search engines. I would hazard to guess that this fact is related to the other statistic which says that 58% of the respondents make less than $50k per year. Not saying anything derogatory about Walmart or the people who shop there (I am a Walmart shopper. It is a great place for housewares, toiletries, groceries, etc.) but I think Walmart definitely targets specific segments of the consumer population... and it is paying off for them in spades.

With a little luck and a lot of hard work I hope that makes its way to the top five search engines when the same study is done next year. Fingers Crossed! :)

Please check out the article below.

Till next time.
Tom Hynes

Shoppers Check It Out Online, Then Go To The Store

According to BIGresearch's June Consumer Intentions and Actions Survey, when asked how often they research products online before buying them in person or in a store, 87% of nearly 7,500 respondents said they did so occasionally to regularly.

Of those who said they researched products online before buying them in the store:

* 58% made less than $50K per year

* 51% were female

* 59% were between the ages of 25 and 54

The survey also divided these respondents into two income brackets to profile which items were most frequently researched online, but purchased in person, by those making above and below $50K per year.

Joe Pilotta, VP of Research for BIGresearch, said "Those in the higher income bracket researched and then bought electronics most often, followed by home improvement items and appliances. The other group reported electronics, apparel and medicines/vitamins/supplements as their top three products researched online, then purchased in person."

Types Of Products Researched Online In Last 90 Days Before Buying in Person (% of respondents)

Top 5 Products Researched / Adults (18+) / $50K+per yr. / <$50K per yr

Electronics / 39% / 43% / 35%

Apparel / 17% / 18% / 17%

Appliances / 17% / 20% / 15%

Home Improvement Items / 16% / 21% / 14%

Medicines,Vitamins,Supplements / 15% / 14% / 16%

Source: BIGresearch CIA, June 2006

In both income groups, the top search engine used for product research was by a large margin, but made a surprising appearance in the top 5 websites used first among those who did their comparative shopping online before buying in the store.

Websites Viewed First When Researching Products (% of respondents)

Top 5 Search Engines Used / Adults (18+) / $50K+ per yr. / <$50K per yr / 22% / 27% / 20% / 8% / 7% / 8% / 6% / 7% / 5% / 3% / 2% / 4% / 2% / 1% / 3%

Source: BIGresearch CIA, June 2006

Pilota concludes, "... Retailers cannot view online as ancillary to the store, rather retailer websites must be viewed as extensions of the bricks and mortar as well as a concentrated shopping experience."


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