(This post is from Jennifer who is the Product Manager for ShoppingAdvisor and attending Shop.org’s annual summit today)
Blogging live from the Shop.org Annual Summit 08 in Las Vegas. Today the Shop.org conference opened with a keynote from Borders President & CEO George Jones speaking to the strategies his company has taken on relaunching and expanding their presence online. While Borders new site strategy is interesting and appropriate in our current “social media marketing” online society, I was more intrigued by how Shop.org kicked off the conference.
Prior to Mr. Jones taking the stage, the conference organisers showed a short video montage highlighting the “voice of the customer” speaking to their shopping trends in this challenging economy. There were some key themes repeated by the many of the consumer’s comments; specifically I heard phrases such as “compare prices”, “coupons”, “cash back”, and “high gas prices” over and over again. You may not immediately equate these sentiments with comparison shopping engines, but I do. What I think the consumers are saying is that their pocketbooks are being squeezed and with an increase in the cost of living, especially gas, they must be more conscious of every dollar. They are looking for retailers who can give them low prices and are interested in shopping without driving (or at least with sites that offer shipping that is less than it would cost to drive and pick it up). This leads me to believe the importance of internet retailers in the average consumer’s life is increasing and with it the marketing channels that help consumers find good deals, cheap prices, low shipping, or anything else that can save a penny here or there – Comparison Shopping Engines.
Now is the time, more than ever before, to promote your products on CSEs. Make sure you are ready for the holiday season, especially if the economy continues to tighten and consumers take these sentiments and trends into Q4 2008.