The economy may be plummeting, but 61 percent of shoppers say their buying confidence can be boosted via online resources, according to recent study results from “Online Retail: Driving Relevant Experiences,” presented in New York on March 3 by Patti Freeman Evans of Jupiter Research, a Forrester Research company.
A panel discussion followed, featuring Patti Freeman Evans; Bryan Eisenberg, author of Call to Action, Waiting For Your Cat to Bark, and Always Be Testing; Mike Svatek, VP of Product Strategy for Bazaarvoice; and David Selinger, CEO and founder of richrelevance. The event was co-hosted by Bazaarvoice and richrelevance.
Forty-eight percent of online shoppers plan to reduce their expenditure over the next 12 months. With spending budgets thus lowered, customers are more anxious than ever to validate their purchases, sometimes after utilizing three or more sources. Consumers also make fewer in-store impulse buys and use online resources, such as ratings and reviews, earlier in the purchasing process, Evans said.
Evans challenged her audience to rethink the relationships they currently build with e-Commerce consumers. People return to familiar environments in difficult times, and savvy retailers will recognize their customers’ needs to create an atmosphere of trust and value.
Panelist Bryan Eisenberg encouraged companies to use review language gathered from their Web site to re-write their product copy. As he put it, “Do you ‘get’ your customer? Are you speaking the same language?”
If you missed this event, join us for another exclusive briefing by Patti Freeman Evans in San Francisco on March 26, 2009. The event is free, but registration is limited; register today.
The New Rules of Engagement: Make it Relevant
Online Retail: Driving Relevant Experiences
March 26, 2009
9:00 a.m. to 11:30 a.m.
The Palace Hotel
San Francisco, CA
Register now at www.bmmreg.com/Engaged. See you there!