ORCA Websites

• Almost two thirds of respondents (65%) said that economic problems would affect their spending generally. However, 56% of consumers said their online spending would either not be affected, or that they would actually increase their online purchases.

The research, based on a survey of more than 1,300 UK adults, shows that the credit crunch, falling house prices and worsening economic conditions will result in online consumers researching purchases more carefully. A large proportion of consumers are turning to comparison engines and user reviews to make the most informed purchasing decisions and to get the best value.

In particular, those who do not offer online reviews should consider the benefits of doing so.

• 62% of respondents said they were now more likely to consult reviews written by other web shoppers before buying.
• Women (64%) are more likely to consult online reviews than men (58%). Women are also more likely to reduce their spending as a result of the credit crunch and other economic problems.

While user reviews are an important factor in consumers’ purchase decisions, price will still be the major influencer in the majority of buying decisions online, with 64% citing this as the most important factor when making an online purchase over the next 12 months.

The survey report also examines consumers’ habits when searching for goods and services online:

• The majority (69%) search by product name when looking to purchase online, with brand names the next most searched for, at 43%.
• Other popular searches centred on product name and price or quality of product e.g. shoppers may search for terms like “cheap flights” or “five star hotels”.

The survey suggests that online retailers can adjust to a weakening economy by giving customers what they want in terms of price and quality, while retailers who currently don’t offer user reviews or submit feeds to comparison engines may be missing out, as these are also influential factors when buying online.