Pre-Shoppers Rule the Retail World

Hire that Web geek now. I'm serious. A recent study by Yahoo! and comScore found that 89 percent of consumers shop online, while less than 7 percent actually purchase online. What does that mean? A killer Web site, SEO and online advertising are all retailer musts. The site has to allow customers to find what they want online, so they can then saunter into your store and hand over the cash. Strategically placed online ads help too. At least that's what Yahoo! and comScore tell us. They did survey 175,000 people to get this data, so they may be on to something...

"Pre-shoppers" (the 89 percent) spend, on average, 41 percent MORE in-store than customers who are not surfing the Web prior to coming in-store to shop. Wow. I just got a wake-up call. As a consumer that frequently "pre-shops" (new sassy shopping term), I thought I was being savvy by checking out all of my options online before making a purchase. Turns out, my online education time actually means that I'll spend more money. Good for retailers and I guess, not so bad for me--I do get some great deals on stuff I love. Like my recent entertainment stand purchase. I did my due diligence, surfing the Web until I found one that was in my price range and the style I wanted. Then, I called up the retailer--good ole' Target--and made sure they had one at the store closest to me. Why pay for shipping or wait to receive it? Instant gratification, baby! I figured it was a win-win; I now have a fabulous entertainment stand for the honkin' 42" flat screen TV my partner insisted on buying (BTW--"pre-shopped" online and then bought in-store), and Target gets my cash, biz and continued devotion. Sounds like a fair deal to me.

But, enough about my buying habits, the survey also found that consumers exposed to online advertising were more engaged--meaning once an individual views online advertising, he/she will go on to view six or more pages than if they hadn't seen the advertising. Pretty powerful, right? To put that in cash money terms, customers who view online advertising spend $6 in-store for every $1 online. So, lure them in with a snazzy site and great online ads, and then just wait for the cash register to start ringing. It worked for me!

--Heather Strang