NEW YORK, May 11, 2006 (BUSINESS WIRE) -- The Internet's greatest impact on shopping is assisting consumers in the decision-making process, regardless of whether purchases are made online or at retail stores, according to a study released today by leading global Internet company Yahoo! Inc. (Nasdaq:YHOO) and worldwide media communications specialist OMD.
According to the study, a large majority of consumers look online for information as a core part of the purchase decision process for products of all kinds. In particular, the Internet offers a collaborative environment where consumers turn for advice and the experience of others in weighing brands, discovering alternatives and distilling prices, as they weigh their purchase decisions.
Released today, the "Long and Winding Road: The Route to the Cash Register" is the first research study to examine how cultural shifts brought about by the proliferation of technology have radically altered the way consumers make purchasing decisions. The study found that the Internet, along with related technologies like camera phones and text messaging, have given consumers a new kind of "social empowerment" as they gather information before they shop. More than two-thirds of shoppers across several product categories still make the bulk of their purchases at physical retail locations -- yet nearly two-thirds (62%) use a combination of online and offline sources to gather information before they buy.
"The Internet is far more than just another point of purchase; its biggest impact lies within the awareness and consideration process," said Wenda Harris Millard, Yahoo!'s chief sales officer. "The widespread adoption of social technologies gives marketers an even greater opportunity to continuously engage consumers and make connections across traditional and new media advertising, helping to build brand mindshare and increase offline sales."
The Role of Online Research
The research shows that the Internet is crucial to consumers as they follow various paths on their way to making a purchase. The Internet serves as a price leveler, has helped create a communal shopping experience, and is where consumers turn for trusted sources of information and dependable customer reviews.
Read the full article http://yhoo.client.shareholder.com/press/ReleaseDetail.cfm?ReleaseID=196082
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