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Consumers Embrace Online
Product Research
Comparison shoppers no longer have to schlep
from store to store to find the right products
at the right prices. Now, they just logon to the
Internet.
A recent study from Forrester Research (www.forrester.com)
showed that affluent groups of consumers do the
most product research online. That holds true
across gender and age groups.
Take men, for instance. The study found that 36
percent of men age 18 to 34 who earn more than
$75,000 a year research products for purchase
online once a week or more. In the 55 and older
category earning more than $75,000, 20 percent
reported researching products online more than
once a week.
The study found that women spend significantly
less time online -- up to 30 percent less --
than men. But, young affluent women are
increasing their product research. Of those aged
18 to 34 earning more than $75,000 a year, 24
percent said they research products for purchase
online.
These online consumers aren't just clicking to
buy. They're conducting product research that
includes comparing brands, scrutinizing features
and shopping for the best prices. Deliver what
they want, and your Web site can win over
buyers.
What You Can Do
To capture the
attention of these online consumers, your Web
site needs to provide detailed product
information. The more specific,
easy-to-understand product comparisons you
provide, the better your opportunity to convert
lookers into buyers. Try these strategies:
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Include product reviews on your Web site.
Reviews can come from media outlets or
individual users. If you don't have any on hand,
ask your Web site visitors to provide
testimonials about products.
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Give as much detailed information as possible
about products. For example, a fitness buff
shopping for a weight-training bench can go to
www.iconfitness.com and click on Weider
equipment. From there, the shopper can actually
download the user manuals for a variety of
benches. That’s depth of information.
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Offer enlarged photographs of products so
shoppers can get an up-close look.
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If possible, provide side-by-side comparisons of
similar products. Show differences in price and
shipping costs as well as features.
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Give shoppers different options for researching
products on your Web site. For instance, let
them search by brand, price range, features and
availability.
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Join comparison-shopping search engine programs
that are used by millions of consumers. Shoppers
can sort search results by brand or price. You
pay only when users click on your listing. Costs
vary from 5 cents to more than $20 per click,
but the payoff can be big.
Here are a few to check out:
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