Are You Ready For The Value Hunters?

The latest study by Penn, Schoen and Berland Associates (in partnership with LinkShare) reveals that all those consumers who have turned to the Web are sticking with their new habit!

According to a press released about the study: "With the economy slowing down over the past year, a shopping behavior that for some consumers had been an occasional habit has now become a routine - turning to the Internet to find the best value."

Earlier in the downturn, PSB coined the term "Recession Shoppers" to refer to those consumers. Now they're calling this group "Value Hunters," because the shoppers aren't just comparing prices anymore....they're looking for overall better value and a better experience on the Web!

"These consumers...claimed that as economic situations worsened, they would look to the Internet to find the best deals. Now, months later, even as the economy's vital signs are improving, online shopping behavior shows consumers are still heavily focused on value - in quality price, convenience and time."

Now, according to the researchers, "value" is the new fundamental objective of online consumers! As LinkShare's Yaz! Iida explains, "More than ever before, consumers are searching online for products, services and Web sites that provide value."

Here's a breakdown of the study's findings based on their survey of "Value Hunters:"

51% look for incentives when making online purchases
63% have purchased something online they wouldn't normally have because of a special offer
68% of online shoppers search for value in the form of coupons and special promotions
45% purchase something online once a week or more
47% prefer shopping online to shopping in-store
22% plan to make more purchases online this year than last year

PSB advises that online businesses can "differentiate themselves from competition through value offerings." That means focusing on "pricing, quality and experience."

These businesses must "create an online experience built on value." PSB specifically emphasizes accomplishing this "through the use of an easy-to-navigate Web site!"

There's a lot to take away from this study! First, owners of small- and medium-sized businesses-need a Web presence to garner attention from all those "Value Hunters" out there. It's a crucial market that you simply can't ignore. Also, for all business owners who currently have a site, you need to move beyond your low-quality online brochures to a dynamic, engaging Web site that provides visitors with a superior experience, including e-mail campaigns that promote discounts! Simply WebCenters offers a complete Web solution that provides all the tools necessary to accomplish these things...easily and effectively!

--- Did you know...

July was an encouraging month in the world of online sales, according to the IMRG Capgemini e-Retail Sales Index! Capgemini's Mike Petevinos said, "Online continues to perform strongly with year-on-year growth in July exceeding the last 12 months average at 16.8%...as retailers further improve their online propositions with better product information, visual merchandising and delivery methods."

And Tina Spooner, also with Capgemini, said online retailers were clearly outperforming their brick-and-mortar counterparts.

"It is evident that online merchants are becoming more sophisticated in their marketing efforts and e-mail communications to their customers, the result of which can be seen in higher conversion rates..." Spooner said.

Businesses that leverage the Web are going to experience better success and growth during the downturn, and retailers are catching on! It's time for you to get on board! We will help you achieve these results!

Set an appointment today for a no-cost, no-obligation demonstration of our Complete Business Web Solution Package.

Visit us at SimplyWebCenters.com