|
|
|
|
|
Economic Downturn Shift Consumers to Web Deals
By
ChannelTimes Staff
Mumbai, Aug 04, 2008 1330 hrs IST
Exploring the pros and cons of economic slowdown on consumers, PriceGrabber.com, a division of Experian, recently concluded its latest consumer report. The survey incorporated the detailed report on consumers purchasing decisions. Taking a view from more than 7,170 online shoppers, the site conducted 3 surveys between March and late June. The research was compiled by asking online shoppers about how they spent their tax refunds, economic stimulus checks and how they have been saving money over the past 3 months.
In a survey of 3,359 online shoppers conducted from April 29 to May 23, 56% of respondents indicated that they were cutting back owing to the weak economy and growing inflation. Nearly 42% of respondents indicated retail shopping as the primary category in which they are reducing expenses. More than one third of the consumers were involved in a comparison of shopping websites. Consumers were also reducing retail spending through discount and bargain shopping and using low-interest credit cards or cash.
It is clear that consumers continue to make cutting back a priority. Our site remains committed to helping shoppers make smart purchases and save money. New features like Product of the Day aim to help them find unique daily deals during a time when cost-saving is particularly important, said Ron LaPierre, president, PriceGrabber.com.
Among the options tried by consumers to curb their spending, a survey revealed that among 65% who plan on spending their tax refund, 45% plan to use it to clear an existing loan.
Despite government efforts to increase consumer spending through the economic stimulus program, another survey of 2,483 online shoppers revealed that 89% of respondents are still cutting back. More than one-third of consumers indicated they spent their economic stimulus checks to pay off debts.
|
Disclaimer |
ITNation
(India) Pvt. Limited and its sites:
www.channeltimes.com, www.techtree.com
and www.cxotoday.com provide
Comments and discussion boards as a professional medium
for the various businesses of the IT industry to discuss
business problems. Gossip, personal attacks and unsubstantiated
charges are prohibited. Messages posted on this Web site
as discussion threads or Comments (Content) are solely the
opinions of their creators and do not necessarily reflect
the opinions of ITNation (India) Pvt. Limited or its sites
www.channeltimes.com, www.techtree.com
and www.cxotoday.com.
All individuals who post material to this web site are solely
responsible for all Content that they upload, post or otherwise
transmit via the Web Site. |
| ITNation
cannot vouch for the authenticity of the user or company
names or e-mail addresses associated with posted messages.
Under no circumstances will ITNation
India Pvt.Ltd. or ChannelTimes
be liable in any way for any Content, including, but not
limited to, for any errors or omissions in any Content,
or for any loss or damage of any kind incurred as a result
of the use of any Content posted or otherwise transmitted
via the Bulletin Boards. |
| ITNation
reserves the exclusive right to edit or remove messages
containing inappropriate language or other material that
could be construed as libelous, potentially libelous, or
otherwise offensive or inappropriate. Discussion forums,
bulletin boards and chat facilities are provided by ITNation
solely for the convenience of those who make use of the
service. ITNation does not endorse the products and services
or other offerings mentioned in messages. |
|
|
|
|
|
