A new survey from Lightspeed Research has highlighted the reliance on the web when making purchase decisions
- Over 75% of respondents have visited a price comparison site in the past six months
- Over 80% of consumers doubt consumer reviews on company websites are trustworthy
- More than 9 in 10 consumers search the internet before buying an item
- 61% have searched reviews before making a purchase
- 60% have used the internet to research and compare different models or brands
- Fewer than 7% never bother researching
- In the case of personal technology (MP3 players, cameras and mobile phones), cars and home entertainment - 99% research items on the internet prior to purchase
- Books, DVDs and clothes are more likely to be researched online than computer software and games
There are gender differences with men more likely to search personal technology, computer hardware and software, games, cars, CDs and home entertainment. Women the online search priorities are clothing and books.
- Of all services, insurance is the most researched category (68%), this exceeds those searching for holiday accomodation (65%)
- Women are more likely to research holidays (70% versus 61%)
- Men are more likely to research utilities (59% versus 55%), mobile phone prioviders (54% versus 46%) and banks/financial services (49% versus 42%)
Interestingly, despite word of mouth proving highly important during the decision making process and despite the popularity of social networks, these platforms clearly aren’t the destinations consumers turn to when they are looking for shopping guidance. Only 14% saying it’s important friends in these digital communities give products they are interested in good reviews.
These online communities are primarily about friendship and conversation, so product and service reviews really aren’t part of everyday communications here.
In fact, when consumers are on the lookout for product reviews, shopping sites and search engines are the leading ports of call, attracting 72% and 70% of respondents, respectively.
Close to two thirds (64%) of respondents place their trust in the opinions of other consumers, followed by Which? (60%) and professional reviewers (58%).
And while people might well head to brand websites when they are conducting their research, that doesn’t mean they are easily swayed by the consumer reviews they might find there - just 17% believe the posts they read on a company website as trustworthy.
And when it comes to negative reviews, it doesn’t take that much to swing consumers, with 67% of respondents saying they would change their mind about buying a product or service after reading up to three thumbs-down posts.
Age makes a difference too, with older demographics more likely to take onboard those online opinions.
One third (33%) of 55 to 64 year olds say they would change their mind after just two negative reviews, compared to only 10% of 18 to 24 year-olds.
Slightly under half (49%) of respondents said they had written a review of a product or service and posted it online, with women more likely than men to have done so (52% versus 47%)
Just 46% of 18 to 24 year olds have posted reviews, compared to 56% of 35 to 44 year olds.
Of those who have posted a review online, the overwhelming majority (88%) say it was positive.
Among those that have not posted, most (51%) say they would never do so, while close to a third (31%) say they would be more likely to post a review after a negative experience
Only 18% said would post comment after a positive experience
Among those who have never posted a review online, more than three quarters (77%) say they would be more likely to write one if they were offered an incentive, such as a discount voucher, with 18 to 24 year-olds the group most likely (92%) to be spurred into action by such inducements
The research suggests that brands wanting to get more people involved in commenting on their products and services can do so by offering rewards
Source: Lightspeed Europe
