Consumer Beliefs and Online Shopping
This research article studied the effect of consumer beliefs on online purchase behavior. As the article states, “the three most common beliefs that consumers have about shopping online are that it saves time, saves money and helps find products that best match needs.” However this is not apparent to everyone. As shopping online is increasingly becoming more and more popular it is important for these online retailers to figure out who their customers are, in particular what their beliefs are and what they want out of their online shopping experience. This study investigates the characteristics of online shoppers such as their income, education level, and age, effects their online shopping beliefs. This article also discusses the “tyranny of choice” paradox, when it comes to consumers desire to have a wide selection of products vs. the time it takes to examine all the options.
So who are these people? Online shoppers who believe that e-commerce “saves time” tend to be older, with higher incomes, more educated, and use the internet more often than those looking for “the best product fit.” People who believe that e-commerce offers both have a tendency to research products prior to making a purchase and like having many choices while shopping (they are least effected by the “tyranny of choice” paradox). This is because they are the most confident about their purchases and not as overwhelmed by the amount of information available online.
Punj, G. (August 01, 2011). Effect of Consumer Beliefs on Online Purchase Behavior: The Influence of Demographic Characteristics and Consumption Values. Journal of Interactive Marketing, 25, 3, 134-144. http://www.sciencedirect.com.offcampus.lib.washington.edu/science/article/pii/S1094996811000338