Sanjay Singh, formerly of Abercrombie & Fitch and Procter & Gamble, will head up a new data-analysis business unit.
Helping consumers make purchase decisions is the Internet’s greatest impact on shopping, whether or not purchases are made online or at stores, according to a new study from Yahoo and OMD.
Helping consumers make decisions on purchases is the Internet’s greatest impact on shopping, whether purchases are made online or at stores, according to a new study from Yahoo Inc. and OMD, a media communications specialist.
A large majority of consumers go online for information as a core part of the purchase process for all kinds of products, the study found. 54% of consumers said the Internet is the most trusted shopping information source, followed by magazines (34%) and TV (23%).
“The Internet is far more than just another point of purchase,” said Wenda Harris Millard, Yahoo’s chief sales officer. “Its biggest impact lies within the awareness and consideration process.”
74% of those surveyed said they use trusted, familiar web sites when purchasing online, and 55% opt-in for e-mail marketing messages from companies they trust, according to the report.
The study also found that consumers on average consider three brands before making a purchase. And while many comparison shop using the Internet, 38% of consumers still want to see and touch products before they buy. 61% said Internet search engines are one of their favorite tools for finding product information.
Yahoo and OMD surveyed 4,301 adults aged 18 and over from March 15-22. The samples was drawn from Ipsos’ U.S. online panel.