Consumers: Best Values Found Online
By George Anderson
A study by the Millard Group said consumers find they get the best value for their purchases when they make them online.
More than half, 53 percent, said that online sites offered the best values while 32 gave catalogs the nod and 16 percent found brick and mortar retail to be the best place to shop to get the best value for the buck.
Quality and price were the two most important factors in determining value, according to the study’s respondents. Thirty-seven percent of those answering the Millard Group’s survey said a product’s quality was the most important factor, while 26 percent listed price as their number one consideration.
According to a report on the DM News Web site, the Millard Group conducts its Online Co-Op surveys on a quarterly basis. The latest research “includes responses from 66,000 online buyers from 21 participating catalogers.”
Moderator’s Comment: Are you surprised by the results of the Millard Group Co-Op study? With something so subjective as value, how do retailers deliver
it to their particular customers? Can you name retailers that do a great job of delivering “value” based on the subjective criteria of their shoppers?
Nordstrom delivers value and so does Aldi. Both businesses understand the factors involved in determining value vary depending on the particular circumstances
of individual shoppers. –
George Anderson – Moderator