In recent years, the economic slowdown has caused many people to change their consumption habits. Many traditional retailers have experienced a sharp drop in sales. Massive layoffs and foreclosures have also affected the retail industry. An area of retail that seems to flourish in these volumes is the economic difficulties of online shopping sites.
A study conducted by Penn, Schoen & Berland Associates, Inc. (PSB), commissioned by LinkShare, a provider of network marketing, noted that consumers have become increasingly cautious about their purchasing decisions. There is a new group of buyers who visit commercial websites. This new group of online buyers have been labeled as "buyers recession. They go online to find the best bargains in an effort to curb their spending habits. They are attracted to online sites trying to offer as price comparisons of online products, coupons and discounts like free shipping, buy one get one free, the product price slashing, and d 'other special promotions.
The PSB study reported that:
• 68 percent of the recession as "purchases (and 79 percent" buyers Weekly ") has purchased something that would not otherwise because of a coupon or a discount.
• 64 percent of the recession as "purchases (and 70 percent" buyers weekly) reported having made a purchase from a particular online retailer that would not otherwise because of a coupon or discounts.
The Internet provides buyers with tools to compare similar products to find the best price. In addition, buyers have no fuel costs associated with travel to and from traditional retail stores. The study results indicate that the PBS to consumers today is becoming less of an impulse buyer and a more prudent purchaser.
A study conducted in April Performics and ROI Research has revealed that "three-fifths of online consumers say they spend equal (41%) or more (19%) of money shopping online during the next 60 days , did so last year. "The first online shopping '2009 monthly Economic Trends survey also found that" respondents are more likely to maintain or increase spending in line with what they are shopping in general, in particular because they can go online to find products and compare prices and find discounts and coupons.
Other factors that influence consumers to buy online include:
• Online consumers are finding a lot of online retailers who meet a specific category.
• There are many dealers offering bargains that exist only online.
• Most online consumers are receiving e-mail alerts to promote products and other specialties.
This is an exciting time for online retailers to acquire new customers and increase profits. By attracting and maintaining a loyal customer base, retailers should ensure that maintaining the quality of products and services, keep prices low, providing consumers with price comparison engines, and provide easy and efficient customer service .
The recession has sent a stream of customers to the Internet. Consumers are spending and saving quite differently in this economic crisis. Low prices, convenience and quick and easy, have been the driving force of fashion "recession Shopper." The result will probably be some changes and improvements in the way that traditional companies dadostalado. Understanding consumer behavior is essential to maintaining a thriving business in a difficult period of recession.