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Shoppers today are overwhelmed with choice. Wherever they go they are overloaded with information, forced to choose between competing offers at almost every hour of the day.
But if vendors are offering all this extra choice to increase buyer satisfaction, they might well be making a mistake. Neuroscientists believe that increasing the comparisons available may actually reduce happiness, for the simple reason that people tend to regret the decision they made because of the additional options they couldn’t pick....
Advanced analysis of social media traffic can provide insights into these and many other consumer trends because it measures not only how many people are mentioning a given topic but also how they feel about it. We call that consumer sentiment, and it is a powerful tool for understanding the full story.
For example, SAP analyzed more than 28 million social media posts during this holiday season, which revealed that while consumers mentioned electronics twice as often as the next highest category, they had mixed reviews – sentiment was only 60%. Perhaps poor reviews, sold-out models, and missed deals disappointed shoppers this year....
Welcome to the share economy, also known as collaborative consumption and peer-to-peer rental arrangements, where people around the world leverage unused capacity of things they already own or services they can provide by leveraging them for a profit. A down economy, coupled with the ease-of-use and reliability of the Internet, has given rise to a network of part-time entrepreneurs turning personal assets into income....
Consumers love a deal, and even more so if it’s customized just for them, right? Not so fast, says Itamar Simonson, a marketing professor at Stanford Graduate School of Business. Simonson has found that rather than being enticed by them, consumers are skeptical of those personalized offers that flood their inboxes.
His research, “Beating the Market: The Allure of Unintended Value,” was published in December 2013 in theJournal of Marketing Research.
Marketers have long assumed that touting a promotion as “customized,” “based on your past purchases” or “especially for you” will persuade customers that the product will fit better, fulfill more needs or otherwise prove more satisfying than others. But “telling consumers that an offer is tailored for them can backfire” and lower the chance that they’ll bite, writes Simonson, who co-authored the study with Aner Sela of the University of Florida and Ran Kivetz of Columbia Business School....
Effective content has never been more important for successful brand marketing. The proliferation of social media channels and mobile technology, coupled with the hyperconnected-consumer’s demand for instant, personal, and relevant content, have changed the way marketers engage with consumers.
While a handful of brands have cracked the code and consistently deliver high-performing content, a majority of brands still fall short on their content efforts, failing to meet consumer expectations and business objectives. The difference between those brands that succeed and those that fall short is their content model. Successful brands implement an insights-driven, consumer-centric approach, allowing them to think and act more like a publisher and less like a traditional advertiser....
According to comScore, smartphone penetration has reached 72% of mobile market penetratiog.
Mobile devices have become an inseparable part of our everyday shopping lives — whether looking at reviews, checking a price or better understanding product features.
Like a snowball rolling down a hill, mobile commerce (m-commerce) will only gain momentum, both through device adoption and the services that retailers and technology makers put behind m-commerce.
At Bing Ads, we see the evolution to m-commerce balancing on four key elements....
Discover the latest data on why people buy things online.
Just because we're marketing things doesn't mean we really know the science behind what makes people buy. But marketing without that information is like walking outside with a blindfold on -- it's going to be very hard to end up at your destination without a scratch.
To catch up on the latest and greatest research about online buyer behavior, keep on reading. Below, we’ll cover eight data sets on buyer behavior, their key findings, and the lessons you should take away from each piece of research.
Take the ones that apply most to your business and then use them make smarter marketer decisions, like building or tweaking data-driven buyer personas, designing a new experiment for your website, or maybe even making the case to your boss to hire someone new....
Mobile apps are expected to drive holiday sales as increasing numbers of shoppers expect to make purchases on a mobile app.
In fact, 54 percent of app users plan to do at least half of their holiday shopping on a mobile app, via smartphone or tablet, according to new data from Artisan Research.
In a survey of 500 consumers, 94 percent of respondents strongly agreed or agreed that they are purchasing and browsing products on apps more than ever before, and 91 percent intend to buy items from a mobile device this holiday season....
A lot of soccer moms live in the most-searched zip codes in the United States....
Pretty basic stuff, yes. The most interesting thing Esri calculates, however, are their own "Tapestry" classifications, a series of "68 unique segments based on demographic and socioeconomic characteristics." The profiles are broken into two sections: "Lifemode groups," which are "markets that share a common experience—born in the same generation or immigration from another country—or a significant demographic trait, like affluence," and "Urbanization groups," which are "markets [that] share similar locales, from the urban canyons of the largest cities to the rural lanes of villages or farms."
The classifications are based on data from the 2010 Census, the American Community Survey (ACS), The Doublebase consumer survey from GfK MRI and the Esri's most Updated Demographics.
The segments each have very specific titles. For example, you'll find groups titled "Boomburbs" (young professionals with families who live in the suburbs and own minivans) and "Trendsetters" (people who "live life to its full potential").
We were curious how Esri might describe the people living in some of the most popular zip codes in the country, so we went back to our list of 2013's most-searched zip codes to find out....
A recent survey by consulting firm Accenture found 63 percent of consumers plan to use a laptop or home computer to make purchases or research items this holiday season, up 16 percentage points from last year.
The smartphone, in particular, is gaining ground. As of August, 174 million people in the U.S. owned one — 72 percent of the mobile market, according to Reston, Va., digital tracking firm comScore. Branding Brand’s research found that mobile devices generated more than half of online retail visits that month, up from 4 percent in 2010.
The digital world generates data even better than sales, so there’s plenty of information on how Americans are using their tech tools.
Accenture’s survey found 24 percent of consumers plan to use a smartphone while shopping, up from 18 percent last year. Almost half of those surveyed are already using or at least would be willing to try services like ApplePay and PayPal that let them use their mobile phone to pay at checkout....
With all the conflicting information on millennials' relationship with social change, how do we successfully engage these generations in positive behavior change? Do they care about your brand's social impact? Do they actually align their spending with their values? Or are they so cash-strapped and overwhelmed with information that clicktivism is the most we can expect?
In reality, all generations share a set of core motivations that drive our decision-making (hint: it's not our rational thought). But millennials and Generation Z have grown up in a different context and with a new set of digital tools that also influence behavior.
To best mobilize this audience around your brand and mission, we need to understand what core values and trends that drive behavior change...
The Google Consumer Barometer helps users discover how often people go online, how many connected devices they have, and how they purchase online.
The Google Consumer Barometer gives marketers, retailers and producers very recent insights into how people behave online when they are researching a product category and also when they buy products online.
Anyone can use the free Google Consumer Barometer, and if you want you can create and download customised data and market-specific information.
The Google Consumer Barometer helps users discover everything from: how often people go online, to how many connected devices they may have, how people research and purchase online, how people are watching online videos or the differences between generations and their online behaviour....
For the past three years, Google’s Zero Moment of Truth has been a pillar of the automotive industry.
The interesting finding is that we don’t tune out everything. Instead, we, as consumers, have become extremely skilled at passing by the information we don’t find relevant and grabbing the information we do. Our study shows that even though the average car shopper is exposed to dozens of sources, they’re actually only influenced by about six or seven, and that’s the reason why.
More importantly, of those six or seven influencing sources, only one or two sources (i.e., platforms, websites, experiences) are used as primary decision making tools. Meaning that when a consumer finds a tool that meets their needs for a specific task, they depend on it almost exclusively....
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We worked with Shelly Banjo from the Wall Street Journal on a piece about how retailers should use discounts. The Wall Street Journal added a piece of consumer research to accompany the article that was very interesting.
They asked what email headline would get consumers to open an email from a retailer.
Consumers agreed that they are most likely to respond to an email that is advertising a specific (read: relevant) item on sale, not to generic discounts....
We all love a bit of online shopping but what goes through our head before we click to buy items over the web?
We have done some research in the form of an infographic, which reveals some fascinating insights into the psychology of the online consumer.
A massive 85% of people said they read online reviews before making a purchase and 1/3 of shoppers admitted buying an item after being influenced by a video. The research also looks into why we abandon sales at the checkout, which is predominantly down to hidden charges and having to register before buying.
Check out our infographic below for the full insight into the mind of the online shopper....
The power of blogs in influencing consumer purchase decisions is stronger than you might realize. According to data from a research study conducted by Research Now, nearly nine in 10 consumers (84%) make purchases after reading about a product or service on a blog. Among consumers between the ages of 18-34, blogs ranked as the most important source of information to make buying decisions. Among consumers between the ages of 35-54, blogs ranked as the second most important source behind friends, family, and colleagues. Even older consumers (55 and older) value blogs when making purchase decisions ranking them third in terms of importance behind friends, family, and colleagues and editorial articles.
For brands, this data is critical. The research found that blogs influence household purchase decisions for 54% of the survey respondents, gifts that consumers are buying for themselves (45%), and gifts they’re buying for other people (30%). In fact, 25% of respondents indicated that they buy something each month based on blog content!
Consumers are turning to blogs for specific reasons as they travel through the path to making a purchase. Nearly one in two (46%) use blogs for initial product investigation, and 43% use blogs for inspiration. One in three consumers (33%) use blogs to narrow down their purchase options while 30% use blogs to confirm their purchase choices. In other words, blogs play a role at every stop along the marketing and sales funnel....
27 ways to MOTIVATE shoppers who research online TO BUYData from retailing today suggests that around 81% of shoppers try to do some research online before a purchase decision. Here are a few ideas on how to Motivate them to buy.
Sometimes it’s the simplest things that can make the biggest difference. One small factor in UX that can make a huge difference is color.
In fact, 85% of shoppers rate color as a primary reason for why they buy a product. It’s important to use the right colors to get the most out of your UX.
This infographic by Kissmetrics will guide your through making the right color choices for your design. The infographic describes the emotions associated with each color so that you can choose the one that best fits with your overall design.
It also talks about which colors best appeal to which type of consumer so that you can tailor your design to appeal to your customer base....
The holidays are almost upon us, and recent surveys confirm what many business owners have suspected: social commerce, and the use of mobile channels, is increasing and will have a huge impact on 2014 holiday shopping behaviors. The shift toward social shopping highlights trends that impact both business-to-consumer and business-to-business (B2B) purchasing.
As reported by MarketingLand, mobile and social channels will play a significant role in holiday shopping this year. In an online survey of 1,000 smartphone owners, sponsored by MarketLive.com, one in three shoppers stated they plan to make more than 50 percent of purchases via mobile devices. Thirty percent of respondents reported having made a purchase as a direct result of “engagement with a social networking site” within the past year. This is up from 18 percent the previous year.
And, as consumers become increasingly web and mobile-savvy, and vocal in their online reviews of their likes and dislikes, we will begin to see what some are describing as the “consumerization” of business-to-business purchasing behavior. So, while not all consumer shopping activities translate to the B2B purchasing model, many do....
Adobe has released its 2014 Digital Index Online Shopping Forecast for this year’s holiday season, with a visual summary in video form and highlights in the graphs below.
Adobe data predicts online prices will hit rock bottom on Thanksgiving Day, lower than any other day during the holiday season.
Record sales of $1.35 billion are expected on Thanksgiving Day, a 27 percent increase over last year. Sales on Cyber Monday are forecasted to be $2.6 billion, an increase of 15 percent.
Black Friday is predicted to be the fastest growing online sales day of the year at $2.48 billion, an increase of 28 percent.
And what will consumers be buying? Social media buzz for Apple’s iPhone 6 and 6+, Sony’s PlayStation 4, Fitbits and Disney’s ‘Frozen’ dolls are driving early interest.
We are thrilled when we get positive reviews – it’s a reaffirmation that the investment we’ve made in the customer’s experience has been worthwhile. But correspondingly when we get negative reviews, that’s why it can feel so personally wounding.
Yet to truly exploit reviews, it is essential to look at all of them – whether they’re good or bad. To do this, we need to understand shopping psychology, to see the reviews through our customers’ eyes so we can strategize accordingly....
Online sales in the U.S. are expected to hit another record this holiday season, but spending growth will be slower than in previous years, according to one researcher.
Forrester Research predicts that consumers will spent $89 billion shopping online during the holiday season this year, an increase of 13% from the same period a year earlier. That's down from 15% year-over-year growth in 2013....
Over the past two weeks we conducted a series of four webinars that collectively comprise theHooked On Customers Summit. Over 260 people attended.
The eight speakers and I packed an incredible amount of insight into just four hours. I thought it would be interesting to try to choose one key insight from each speaker. So without further ado, here are my 9 top insights from the Summit. Thanks to all our speakers for a phenomenal job!...
Before even going to the store, one in three shoppers plan to tap into their phone to check prices, based on a new survey of 1,000 U.S. adults conducted by Google Consumer Surveys for Thinknear.
Before the holiday shopping trip, consumers expect to use their mobile phone for a range of activities.
They include: - 32% -- Price comparisons
- 31% -- Research gift ideas
- 27% -- Research product reviews
- 25% -- Look for coupons, sales
- 22% -- Make a shopping list....
A new study of top e-commerce websites found these practices—called discriminatory pricing or price steering—are much more widespread than was previously understood.
The study, by a team of computer scientists at Northeastern University, tracked searches on 16 popular e-commerce sites. Six of those sites used the pricing techniques; none of the sites alerted consumers to that fact.
Among the study’s findings: Travel-booking sites Cheaptickets and Orbitz charged some users searching hotel rates an average $12 more per night if they weren’t logged into the sites, and Travelocity charged users of Apple Inc.’s iOS mobile operating system $15 less for hotels than other users....
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