- The economy stinks.
- People are swearing off spending money. They are not even spending that much online anymore.
- If they decide they have to spend money then they darned better be getting a deal otherwise it's right back to number two.
Now that the stage has been set, it's a bit odd to come across stories that, on the face of it, appear to be at odds.
Number one case in point is a piece in The New York Times that reported online retailers are cutting prices as low as they can go to try and make something out of the holiday selling season.
Point number two comes from a piece in The Boston Globe on new research from ChoiceStream showing that when it comes to buying online, consumers put convenience and product selection above price.
So what is going to get consumers to part with those dollars they'd rather not spend this holiday?
Gian Fulgoni, chairman of comScore, said online retailers have little choice but "to run these deals because that's what consumers are looking for this season."
Toffer Winslow, executive vice president of sales and marketing at ChoiceStream, said in a statement, "Although the current economic climate is predicted to curb consumer spending this holiday season, we were surprised to find that shoppers are still more concerned with shopping convenience and finding the right gift than they are with getting the best price. We believe that this presents retailers with a unique opportunity to earn consumers' limited shopping dollars by improving the online customer experience instead of focusing on discounts and margin-eroding promotions."
Discussion Questions: What factors do you think are most important to consumers shopping online for the holidays this year?