Yahoo, UM: Web Is Killing Impulse Shopping
Impulse shopping buys are dying out as a result of tools such as social networks, the mobile Web and coupon sites, according to research from Yahoo and UM, the Interpublic media agency. Instead of buying on impulse, the research found, shoppers have switched to a mindset that is "analogous to playing a game."
Titled "The Long and Winding Road: Gamesmanship of Shopping," the study found that consumers are now involved in a complex process of discovering, evaluating and socializing -- all part of an ongoing hunt to get the best possible deal.
Most (66%) of the 2.485 consumers interviewed, UM and Yahoo said, are aided in this quest by search engines, consumer portals, online articles and reviews, brand sites and retailer sites.
This turns shopping into a collaborative process involving other "players," rather than an individual task -- and into an "intriguing path of discovery" rather than a "chore."
While an increased reliance on trusted Internet sources has led to less impulsive purchasing, the time taken to make decisions on non-impulse purchases has shortened considerably. Consumers use their "vast networks" combined with Internet-friendly devices to "help make the right decisions quickly."
Specific study results included:
·55% of shoppers are less impulsive due to the Internet, and 17% are more impulsive.
·69% trust the Internet the most for information on products and services, compared with 43% who trust magazines and 35% who trust TV.
·69% seek more deals and coupons online.
·61% use "evaluate" tools, such as deal collection emails and coupon sites, throughout the shopping process. And 49% use "socialize" tools, such as conversations with friends and family and consumer-generated media. But researchers note they rely much more on consumer reviews than on social media.
·68% are aware of more brands before they buy something, and 72% feel the Internet makes it easier to figure out which brands to consider.
·59% believe they have an advantage over marketers and retailers because the Internet allows them to seek others' opinions