How Do You Get Shoppers to Open Their Wallets in Today’s Economy?

Posted on March 4, 2009 by

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Consumers are spending less.  That’s hardly a novel headline in this economy, but just because spending is down, it doesn’t mean wallets are completely sealed shut.

Bazaarvoice commissioned a survey of 800 U.S. consumers to learn about what factors have the greatest impact on shoppers during the decision-making process.  Not surprisingly, 61% of respondents acknowledged that online resources can sway them as they’re making purchases.  Factors like “user ratings and reviews (77%), and recommendations based on other consumers’ purchasing or browsing behavior (66% and 65%, respectively)” played heavily into their final decisions.  This data reflects that word-of-mouth is alive and well online – even among people who may not even be on the same continent.

What does all of this mean for your site?

Make sure you’re allowing online shoppers to get involved!  Make it easy for them to leave reviews and ratings.  Incorporate systems that intuitively know when to suggest products or link to purchase histories of other shoppers.  Brett Hurt, founder of Bazaarvoice, explains it simply, “companies have a tremendous opportunity to provide online shoppers with authentic, user-generated content that is proven to build confidence, increase satisfaction, and drive sales.”

It’s an easy step that can have a far-reaching impact.  Work with your web designers to find ways to incorporate more user-friendly features and you may just find that you’re creating a loyal (and growing) consumer base.

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