March 11, 2008

Web Buyers — And Their Expectations — Grow Up

Experienced Web Buyers Are Becoming The New Mainstream

by Carrie Johnson, Peter Hult

with Brendan McGowan

Executive Summary (This is a document excerpt)

The online shopper is maturing: Only one in 10 Web buyers has less than one year of online shopping experience, down from one out of five Web buyers in 2005. In fact, today, nearly one-third of Web buyers have seven-plus years of online purchasing experience. Tenured Web buyers are slightly older, wealthier, and more enthusiastic about technology than their less-tenured counterparts. Furthermore, compared with inexperienced Web buyers, seasoned online shoppers have fewer reservations about buying online and purchase in a wider variety of categories. How can retailers deepen their relationships with the growing ranks of eCommerce veterans, while simultaneously enticing the remaining online shopping holdouts? Through targeted promotions that will catch the interest of bargain hunters without degrading margins, capturing the trust of newbies with clear security policies, and mastering online merchandising tactics that combine the best of online and in-store shopping experiences.

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