Media Release – 10 October, 2011
Changing Online Buying Behaviours
The buying behaviours of consumers and online is no longer a direct representation of the physical retail segment, said Nicola Walsh, Consultant, Inxcess.
After running online event auctions for the Media industry for over 8 years inXcess have witnessed first-hand these, at first, gradual changes.
Over the past 8 years of running online event auctions for our media clients, we now find that women are more comfortable browsing and bidding in their own environments, leaving live auctions to the male population.
In fact, in the online auction marketplace, women lead the way in volume, value and frequency of purchases. For example in 2005, 47% of Ebay’s audience was female and in 2011 women are representing 51% of the Ebay market.
Nicola went on to say, ’that with the online event auctions run recently by inXcess with News Limited’s Townsville Sun, Geelong Advertiser and Messenger Community News Newspapers, they are glowing examples of how the AB grocery buyer segment is taking over online with consistently up to 60% of all bidders being female aged 30 to 49.’
Furthermore, where the internet was once a playground for window shoppers, consumers online now mean real (and big) business.
‘Geelong’s BidBuyLocal online auction (in its 2nd consecutive year in 2011) proved that individuals using the online auction site, are there to purchase.’ ‘Bidders know how to find a bargain and interestingly, whilst active bidders was slightly down, their spending amount was substantially higher. Where it was once important to have large volumes of traffic and bidders at the auction websites, it’s now quality not quantity that’s important.’
‘There are three great advantages for online event auctions for consumers. One, it removes the barrier of geography. Two, removes the barrier of time. Staying at home and bidding at a particular time that suits. Thirdly, the auction format is highly measurable producing valuable information about products and services that are in demand.’
‘These unique online event auctions create a social community, for 10 days, 24 hours a day, offering unbeatable deals on many products and services. They create a huge momentum for the local community and provide another marketing solution to local businesses and local media outlets.’
Shopping online is becoming a mainstream way to buy and receive unbeatable deals. Consumers are spoilt for choice with a large array of deals from each online shopping site or auction. The question now is, how do we ensure the exponential growth of online shopping does not lead to the death of high street retail?
For further information please contact: Nicola Walsh, Consultant, inXcess Pty Ltd, 0400 841 130
Download this media release as a Word doc: Media Release Oct2011 inXcess