Make Friends With Your Shoppers…Especially When They’re Spending Less

Posted on | July 1, 2008 |

Last Monday at the Linkshare Symposium, Jupiter’s Patti Freeman Evans unveiled the results from a LinkShare/JupiterResearch survey conducted earlier this month that found that consumers are planning to tighten their proverbial belts this year. What else is new, you say. We already know about the frugalista. But the study also found that consumers predicted their offline spending would drop more significantly than their online spending. Add to that another key finding: Influencers, individuals in that key demographic of shoppers who impact the purchasing decisions of others, said they plan to do more product and pricing research online in order to get the most bang for their now-more-crucial buck.

– On average, online consumers are predicting their offline spending will drop more than online spending. Offline spending is predicted to drop 6.3% versus a smaller drop of 4.2% online.

– Most online consumers (81%) believe they are facing an economic recession.

– 56% of Influencers plan to do more product and pricing research online to ensure the best price as a result of struggling economy.

This can mean great opportunities for websites, and especially for those that talk directly to shoppers (like us at SheFinds). The most important demographic of shoppers, those commonly accepted shopping experts in every peer group, say they will actively seek out more shopping guidance from the Internet. Now might be a good time to concentrate on engaging with them.

One strategy that could be particularly effective with Influencers – but similarly effective with less-devoted consumers – is cultivating a community of commenters who rely upon the combination of your products, your site’s voice, and each other to make purchasing decisions. In an economic climate where consumers are spending more energy making sure they get what they want, it’s useful (for you and for them) to create a space where that information is available and reliable.

Promotions, user-supported product reviews or a generally positive online experience can ignite these relationships. Keeping them healthy is more important now than ever. Because the ease of access on the Web makes publishers like us the jumping-off points for product reviews, user-generated commentary and price comparisons, we’re positioned to take advantage of these shifting consumer interests.

Online shopping expert, Michelle Madhok, is the CEO of White Cat Media Inc. publisher of blogs SheFinds.com and MomFinds.com, sites that help busy women shop online.

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