Electronic Commerce Update, August 1997 Online Shoppers Represent Big Market in Digital Economy

U.S. consumers who shop on the Internet tend to be premium buyers and may represent a greater profit potential than previously thought, according to a study released by AT&T and Mercer Management Consulting. Conducted under the direction of the AT&T Solutions professional services organization, the survey also has good news for companies aspiring to conduct business over the Web: online shoppers tend to be highly satisfied with the transactions and accompanying service they receive, and they plan to return again and again to the Internet to conduct commerce. Highlights of the survey were presented at the Forbes CEO Forum, "The Next Millennium." The survey also found that 59 percent of consumers who purchased goods online are highly satisfied with the service they received. The highest satisfaction levels were recorded for those who purchased books online (71 percent). Based on their positive experiences, 62 percent of online shoppers intend to purchase more merchandise via the Internet in the future, and only 4 percent intend to purchase less. Twenty-seven percent of traditional shoppers indicate future intent to purchase online, signaling that the trend toward a digital economy has both staying power and enormous growth potential. The survey indicated that online purchasers represent an extremely attractive market segment and suggest companies which ignore electronic commerce do so at their own peril. Other findings included: Eighty-eight percent of online shoppers said they are brand-loyal vs. 81 percent of traditional shoppers — despite their self-proclaimed status as innovators. Online shoppers' recollections of past buying behavior indicate that they are buying from premium providers, as opposed to value-based providers. Some two-thirds of the children of online shoppers are themselves online and represent enormous opportunities for companies committed to electronic commerce.

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