The online purchasing pattern has evolved a lot since the advent of e-commerce. There has been a major shift in the way people decide to buy a product, basing their decision on various sources of information. According to a Nielsen survey, people show only 37% trust in the online banner ads shown on the websites. People are more likely to believe the consumer opinions posted online and the highest level of trust is shown when people receive recommendation about a product from someone they know. The trust level is as high as 90% when our friends recommend us something.
This increase in the Consumer Generated Media has major implications for the online retail stores. Most of us go to online review sites to get the user comments but these comments are not entirely reliable since they are from people whom we do not know. Below you can see the Implications for Retailers and other ways.
Continue reading Friend’s Recommendation: New Face Of Online Retail
How many times has this happened that you buy a product and then realize that it lacks some features which might be important to you or has some minor flaws which would have been obvious had you done some market research?