Los Angeles, Calif., June 29, 2009 — PriceGrabber.com®, a part of Experian, explores home furniture and appliance shopping trends in its latest Consumer Behavior Report, Online Home Furniture, Appliance & Home Entertainment Trends. This report examines survey results sourced from 3,127 U.S. online consumers who completed the Home Furniture & Appliances Survey, fielded from April 7, 2009, to May 11, 2009. Survey data reveals that the state of the U.S. economy is having a major impact on the home life of consumers. Surprisingly, consumer price-sensitivity appears to be less of a factor in these major purchase decisions than previously thought, while peer opinions are proving to be vital during the process of researching and purchasing items in these major categories.
Consumers do their homework online before making purchases
The majority of online consumers (53 percent) research and purchase home entertainment items online. Eighty percent of online consumers indicated they will likely research their next kitchen appliance online, and 30 percent said they will likely make their purchase online. Similarly, 77 percent of online consumers will likely research online for their next laundry home appliance, and 26 percent said they will likely purchase their next laundry appliance online. Although some remain reluctant to make final big-ticket home furniture purchases online, the data shows that 65 percent research potential purchases online no matter where they make their final transaction.
Lowest price is the last priority when purchasing a major home appliance online
PriceGrabber.com surveyed consumers about the factors that are most important to them when purchasing a major home or kitchen appliance online. Fifty-two percent of consumers said reading user reviews on products is one of the most important factors when deciding to purchase a major home or kitchen appliance online, 49 percent included comparing product specifications, 45 percent chose finding a familiar brand or manufacturer, 31 percent included checking merchant rankings, and 24 percent selected the lowest price regardless of merchant ratings.
Online purchasing behavior for home furniture, appliance and entertainment items
Even though consumers are spending more time at home, their generally reduced spending habits have suppressed purchase decisions on larger-ticket items like appliances and furniture. Fifty-five percent of consumers surveyed indicated that they have made a concerted effort to cut back in the past few months. While four in 10 online consumers purchased a home entertainment product (e.g., HDTV, Blu-ray player, DVR, speakers), only 22 percent of consumers purchased a laundry appliance (e.g., washing machine, dryer) or kitchen appliance (e.g., refrigerator, range top, oven, microwave), and only 11 percent purchased home furniture online in the last 12 months.
PriceGrabber.com will continue to track home furniture and appliance shopping and purchasing trends over the next few months. To view the full Consumer Behavior Report, which also includes historical pricing trends for furniture, appliances and at-home entertainment products, please visit Online Home Furniture, Appliance & At-Home Entertainment Trends.
PriceGrabber.com, part of Experian InteractiveSM, has established itself as one of the most trusted and effective online comparison shopping services, allowing approximately 26 million consumers each month to search and compare information that enables them to find the right product from the right retailer at the best price. Through continued innovation and a consistent focus on providing the best comparison shopping experience on the Internet, PriceGrabber.com provides savvy shoppers access to millions of unique products and services from thousands of retailers and sellers in 25 product channels. The company also powers comparison shopping functionality for a network of leading Internet sites, including MSN Shopping, AOL Shopping, About.com, iVillage, Comcast and CNET. The company offers comparison shopping in English (at http://www.pricegrabber.com), Spanish (at http://www.preciomania.com) and Portuguese (at http://www.precomania.com) as well as international sites in Canada and the United Kingdom.
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Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organizations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage.
For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organizations from financial services, retail and catalog, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, property and government sectors.
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