Wednesday, June 4, 2008

Multi-channel Consumers Spend More; More Likely to Purchase from Multiple Providers

While multi-channel consumers spend nearly twice as much as their single channel counterparts on average, they are also more likely to purchase from multiple providers, according to a new study from Opinion Research Corporation, an infoUSA company. Consumers who use more than a single channel to interact with an organization – for example, shopping online as well as in a company’s store – also tend to spend more than those who rely on only one channel.

The research also indicated that internet shopping will continue to grow, with 65 percent of respondents expecting to make a web-based purchase in the future, vs. 42 percent who use this channel now. This suggests that the internet will continue its transition from a research or browsing tool to more of an actual selling channel. Somewhat surprisingly, telephone shopping will also continue to rise, as 39 percent of respondents plan to use the telephone to make purchases in the future, compared to only 21 percent who currently do.

Additionally, the survey found that consumer’s multi-channel usage varies by industry. For example, big box retailers such as Borders and Home Depot (17 percent); mass merchants such as Wal-Mart and Target (16 percent); department stores (14 percent) and restaurants (11 percent) have had the most success at implementing multi-channel strategies.
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