Press Release - April 5, 2006
Competitive online report reveals Amazon and CircuitCity preferred over BestBuy and WalMart
eVŌC Insights and RelevantView Share Results Of Head-To-Head Syndicated Retail Report
SAN FRANCISCO, CA and WESTPORT, CT —April 5, 2006— eVŌC Insights, a customer experience consulting firm and, RelevantView, a leading technology provider of Web-based research solutions, announce the release of a new syndicated retail report Ratings, Reviews and the Customer Decision Process: Amazon vs. BestBuy vs. CircuitCity vs. Walmart. This report takes a closer look at how consumers interact with four leading online retail Websites and provides insights into what drives purchase preference.
As consumers research and purchase more complex items online, such as electronics, travel, and automobiles, online retailers want to identify what factors drive purchase decisions and what role online features and functionality, such as ratings and reviews, play in the customer decision process. The competitive retail report addresses this need and answers the following questions:
- Are users simply shopping for the best price or does the user experience drive purchases?
- How can online retailers empower users to quickly and intelligently narrow the pool of products online to best inform a purchase decision?
- Whether searching or browsing online, what tools and features are most likely to convert a shopper into a buyer?
- What role do ratings and reviews play in the decision process?
More and more people are going online to not only research, but also purchase products online. While travel has made the fastest transition, retail and electronics in particular are following suit with close to half of users (47%) conducting research and also purchasing online. However, where users go to research and purchase is often not the same place. The Ratings, Reviews and the Customer Decision Process Report reveals best practices for improving the likelihood of attracting and converting shoppers into buyers.
Overall purchase preference is highest on Amazon and CircuitCity, despite BestBuy having almost twice the initial preference compared to the other sites prior to interaction. Among the four sites evaluated, BestBuy exhibits the least loyalty from its customers (only 29% compared to Amazon's 58%). Despite some positive aspects to its customer experience and highly competitive prices, Walmart still does not garner the same following as Amazon and CircuitCity.
One of the key differentiating features that drives higher purchase preference is ratings and reviews, which both Amazon and CircuitCity employ. In general, 63% of users indicate they are more likely to purchase from a site if it has ratings and reviews. If executed properly, ratings and reviews can boost the confidence in making purchases as well as foster a trusted relationship with site visitors.
Obtain a free Abstract for this report:
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Benchmark for satisfaction on Intercept Surveys for highest performing sites is 66%. Likelihood to return for highest performing sites
is 81%.
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"Over the last three years, we have worked extensively with eVŌC Insights to help us with a broad range of research needs. The consultants at eVŌC are very effective at both strategic and tactical levels, and have strong knowledge of our industry and of Web best practices in general. The insights gained have impacted our business strategy and have resulted in clear improvements on key performance measures such as online conversion. We highly recommend the team at eVŌC."
— Barrie Seidenberg, President / CEO, Viator.com