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Online Shoppers are Consummate Deal-Hunters This Holiday; Most Shoppers Start At Merchant or Comparison Shopping Sites, Not At Search Engines

Business Wire, Dec 16, 2002

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Dec. 16, 2002

Americans may not have an inkling about what they are going to receive from their loved ones this Holiday, but there is one thing they can be pretty sure of: the gift was probably a good deal if it was bought online. According to a new BizRate.com study(a) of 4,299 online buyers during the busiest Holiday shopping period (December 4 to December 9), more than half (54%) of Web shoppers are more deal-centric compared to last year, while only 3% are less focused on finding deals.

Shoppers are visiting an average of four sites before deciding which merchant to buy from, and will visit their chosen merchant site an average of 2.5 visits before completing a transaction. While ninety percent of online buyers are comparison shopping across channels (stores, catalogs and online), 68% of them say the best deals are found online, and most shoppers like to start their search at merchant or comparison shopping sites.

"Online buyers are telling us their tighter budgets and the emergence of more deals available online are the two key factors propelling them to buy online," said Chuck Davis, president and chief executive officer of BizRate.com. BizRate.com's comparison shopping site alone currently has 152 free shipping offers, over 677 merchant special offers, and another 1,000 product rebate offers. Other data from BizRate.com shows that up to 41% of purchases this Holiday season have already been influenced by free shipping deals.


Why are you more focused on finding deals this year?

#1       Tighter budget this year (74%)
#2       There are more deals available (31%)
#3       It is easier to find a deal (21%)

Consumers are very purposeful, rational shoppers this year and are following the `deal-trail'. Ninety-four percent of online buyers visit numerous sites to compare prices and 72% shop around to find the best shipping charges.

In the wake of shopping portals and search engines bolstering their presence in the online shopping market, interestingly, only 8% of all online buyers start shopping at a shopping portal, and only 11% start at a search engine.


Where Do You Start Your Online Shopping?

#1       A specific merchant (54%)
#2       A comparison shopping site (22%)
#3       A search engine (11%)
#4       A shopping portal (8%)
#5       An auction site (5%)

"While many shoppers may use search engines, search expertise is just one component of the complex buying process. Consumers need to know key shopping information comprised of qualitative and quantitative data points such as price, quality of service ratings, shipping and handling costs, sales taxes and references via consumer reviews. That's where comparison shopping sites like BizRate.com add real consumer value to the shopping process," concluded Davis.


How many different times do you shop at one merchant's site before
making an online purchase?

Twice (47%)
Three times (26%)
Once (14%)
Four times (6%)
Five times (4%)
Six times (1%)
AVERAGE: 2.5 times

(a) Study Methodology:

The study was conducted from December 4th to December 9th 2002, one of the busiest weeks of the year for online shopping. The questionnaire was e-mailed to a panel of more than 20,000 online buyers who have transacted from a universe of approximately 2,000 sites across the Web, and 4,299 online buyers responded.

About BizRate.com

Founded in 1996 and based in Los Angeles, BizRate.com (www.bizrate.com) is the leading comparison shopping site on the Web, and a leading provider of e-commerce research. The BizRate.com site offers shoppers best-of-breed comparison shopping features, including user-friendly Smiley Scale(TM) merchant reliability ratings compiled from a vast proprietary feedback network consisting of over 2,000 stores, who allow BizRate to solicit direct feedback at the point-of-sale and after fulfillment from over 10 million customers each month. In addition to merchant reliability information, BizRate.com offers product specs, consumer ratings and reviews of products, a comprehensive price comparison, including taxes, shipping and handling, as well as hundreds of special offers across 20 popular shopping categories. Consistently ranked in the top 5 e-commerce sites on the Web, BizRate.com is a privately held company. BizRate.com ratings appear on Consumer Reports Online and in Consumer Reports magazine.

For a copy of key study result highlights, please contact Helen Malani at 310/754-1280.

BizRate.com's PR Team will be will be available (9-6pm) throughout the Holiday Season (Nov. 25-Dec. 25).

Business Services Industry

Online Shoppers are Consummate Deal-Hunters This Holiday; Most Shoppers Start At Merchant or Comparison Shopping Sites, Not At Search Engines

Business Wire, Dec 16, 2002

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