Three-fifths of online consumers say they will spend equal (41%) or more (19%) money shopping online in the next 60 days than they did at this time last year, according to an April study from Performics and ROI Research.
The first monthly “2009 Online Buyer Economic Trend Study” also found that respondents are more likely to maintain or increase online spending than they are for purchases in general, especially because they have the ability to go online to research products, compare prices and search for discounts and coupons.
Among the survey findings:
Though the study found that respondents are cutting back in many areas, especially luxury items, entertainment and apparel, it suggests that marketers who sell daily household items could actually see sales increase by offering consumers deals to buy online. This is because two-thirds of consumers say that, while faced with cutting spending in most areas, daily household items remain a necessity.
“Despite difficult economic conditions, consumers still seem willing to spend money online, especially when offered incentives through coupons and other online discounts,” said Nick Beil, CEO of Performics. “These findings suggest marketers must implement actionable strategies that more effectively reach cost-conscious consumers to generate sales throughout the recession.”
Additional findings:
“Consumers spend and save very differently in this economy,” Beil said. “Now more than ever it is imperative that marketers understand consumer behavior and the most effective campaign triggers to thrive in any environment.”
About the study: The research was conducted from April 15-17, 2009 among 300 US adults from the Greenfield Online panel who have made an online purchase in the past six months. Statistical testing was performed to uncover meaningful differences between cells and subgroups. The study will collect consumer data each month to track and document changes in consumers’ attitudes and behaviors in light of the current economy and will include additional topical questions with each monthly survey.