Friday, September 11, 2009

Price Comparison Works for Retailers

According to this article in retailwire price comparisons might not only work insurance companies, but it will also work for e-tailers. The article reveals research conducted by the e-tailing group that shows that 36 percent of consumers spend more than half an hour comparison shopping before they make their purchase decisions. Almost two thirds spend at least 16 minutes.

What this mean for retailers? Consumers want to be able to view competitors' prices when shopping at a retailer website. More than seventy five percent of consumers mentioned that they would return to a site that showed competitors' pricing. This is definitely a great way to increase customer loyalty.

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