Businesses are struggling to retain brand loyalty as one in 10 British consumers have no firm decision on brand purchase choice, new research has revealed.
The internet has created a platform where customers no longer value brand loyalty, according to a survey by Forrester Research.
Almost 60% of UK shoppers have not decided on the brand they will purchase before researching or buying a product online, the study suggests. Some 86% of respondents use ratings and reviews for online purchases and 44% go online before buying products in-store.
59% of UK shoppers have not decided on the brand they will purchase before researching or buying a product online.
By Darren Vengroff, chief scientist at RichRelevance.
In the online retail environment, a shopper’s time equates to money – literally. Leading Internet powerhouses such as Google, Microsoft and Amazon concur that online, business is gained (or lost) every 100 milliseconds. That extra fraction of a second for an enhanced graphic to load can mean the difference between a sale—or a bounced session. Without timely uploads, retailers may lose sales to the tune of one-percent for every millisecond in delay (Google Search/Microsoft’s Bing, 2009).
by Darren Vengroff, chief scientist, RichRelevance
Amazon and Facebook made headlines with the new application that allows shoppers to receive product recommendations based on their Facebook preferences (“Likes”).
Combining accounts with an application such as this, whether specific to Amazon or to other retailers, has the potential to create a compelling hybrid of social networking and shopping that creates value for both shoppers and retailers.
You can learn a lot wandering around the EXPO Hall and talking to exhibitors. For example, the UN World Food Programme has partnered with PayPal to fight world hunger, and retailers have an opportunity to help through www.wefeedback.org. One trend Monetate had heard in the hall is the need for retailers to be able to make changes to their website faster. RichRelevance said mobile had been a big topic among their booth visitors.
GRAPEVINE – Millions of people no longer head home to sign on to the Internet to shop. And that number is growing as fast as iPhone, Android and BlackBerry mobile devices can be stocked in stores.
One in three mobile phones in the hands of American shoppers this holiday shopping season will be smart phones that empower – and entice – consumers in real time.
Last year, more than 60 million Americans were mobile Web users, up 33 percent from 2008, according to Nielsen. This holiday season, Nielsen predicts one-third of all mobile phones in use will be smart phones, up from 21 percent a year ago.
By Darren Vengroff, chief scientist, RichRelevance.
Amazon and Facebook made headlines with the new application that allows shoppers to receive product recommendations based on their Facebook preferences (‘likes’).