E-commerce Science Experiment
Lately I have been working on several websites, one of them being an e-commerce site that is due to launch Aug. 1st. As the deadline draws nearer and nearer I have found myself anxious to see what will become of this site. Will it blow up and be the next hottest thing since ebay or will it fail miserably after 2 months or rather, will it live in the middle ground with consistent sales and traffic. It’s quite the social experiment and I’ve been racking my brain with hypothesizes.
As any good scientist would do, I am conducting research. There is a ton of great information over at Shopper Culture and here are a few excerpts.
According to an Integer® and M/A/R/C® monthly shopper update, “The Checkout”, in February, deal-seeking was consistently ranked as the primary motivator for shopping. In addition, when looking at people’s primary shopping goals, spending as little money as possible (28%) comes in way ahead of spending as little time as possible in store (6%).
The poll is intended to be a fun way to see how shopperculture.com visitors compare to the rest of the country. One question we asked recently was how much you used certain digital media in your shopping habits. Here are the results:
image from www.shopperculture.com
A recent PriceGrabber.com Consumer Behavior Report states: “When shoppers decide that they’re ready to buy, they often turn to the Internet, albeit clicking for very different reasons in recent months. The basic human needs of people stay the same, even during a recession. Consumers want to learn about the best products and services for their needs, and spending time online saves shoppers time and money. As a result of the tough economy, 93% of online consumers spent more time or the same amount of time shopping online.”
It seems as if online markets aren’t nearly as affected as traditional retail in the present economic downturn. Things are looking good for e-commerce in late 2009.
Another trend on our side is “small is the new big”. The stereotypical over-consuming American ways are fading out as the public realizes that maybe this isn’t the best thing, not only for themselves, but also for the planet. Consumers everywhere are looking to reduce their carbon footprints and we all know the move towards “green” goods is hot. Markets are down and while most are looking to stretch a buck over the next week, many are looking at the long haul and investing in products that will save them money over time. Don’t get me wrong, consumers are still trying acquire such goods at the least cost possible! See where you can save a buck and check out lots of online coupon codes at: retailmenot.com
Overall the trends are running right and combined with a solid eco-friendly product I am predicting good things. I can’t wait to report back after the site is up and running for a few months. Stay tuned for the site launch!