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PRICERUNNER SURVEY SHINES SPOTLIGHT ON ONLINE SHOPPING BEHAVIOR: SHOPPERS NOT YET SATISFIED WITH RETURN PROCESS
For Immediate Release - March 12, 2007
(
WESTLAKE VILLAGE , Calif.– March 12, 2007 ) — Online shopping has provided consumers with a wider selection of products with greater ability to get a lower price, but when it comes to returning goods bought online consumers are still looking for an easier process for dealing with product returns.
In a PriceRunner survey of 400 shoppers who have been purchasing online goods for between one and five years, the award-winning online comparison shopping engine found that almost 40% of survey respondents were not yet satisfied with returning items they had purchased online. They cited the top three reasons for returning an item online included:
- Item was damaged
- Wrong item was shipped
- Unwanted gift or duplicate
PriceRunner also delved into the frequency of returns and found that while 51.1% indicated they had never returned an item purchased online, 16.7% noted they had returned an item once, 15.3% twice, 5.5% three times, 3.5% four times and 7.9% five or more times. However, an interesting trend emerged when looking at how long someone had shopped online and frequency of return – the longer someone had shopped online, the less likely they were to return an order. Survey respondents were asked to explain what bothered them about the item return process, and two answers were predominant: ‘having to pay the shipping costs for returning the item’, and the time and hassle associated with ‘standing in line at the post office’ to return an order.
"The PriceRunner survey findings reflect a general sentiment in the marketplace that online retailers' return processes have room for improvement," said Dan Gerler, founder and CEO of Onlineshoes.com, the nation's first online shoe retailer. "While our customer service team is equipped with extensive product and sizing information that reduces the likelihood of returns and exchanges, it's inevitable some customers will change their mind about orders in hindsight. We accommodate this reality by offering a simple, unconditional 90-day return policy and year-round free exchanges. These courtesies lower the purchase barrier for first-time shoppers and build long-term loyalty with repeat customers."
Martin Andersen, general manager of PriceRunner, notes that the site offers the following “Return to Sender” (http://www.pricerunner.com/returntosendertips.html) tips for reducing online shopper frustrations with the return process:
- Know thy vendor’s return policy. Before making an online purchase, review the return policy of the store. “If you’re not comfortable with the store’s return policies, compare them with other merchants and see if you can find a return policy you are comfortable with. This is all part of finding the best deal for you,” says Andersen.
- Follow the rules. Stores should have policies posted on their website, and it is important to follow the ‘step by step’ procedures for returning an item to the merchant. “Stay calm, stay rational, because if you follow the return authorization process, you will dramatically improve the chances that you have a smooth return experience,” says Andersen.
- Avoid opening the packaging. Upon receiving your order, compare your order confirmation email with the paperwork or the actual product that was sent to you. “If you were sent the wrong item, you will save yourself having to pay a restocking fee if you don’t open the product packaging,” says Andersen.
PriceRunner conducted the survey of online shoppers during the week of January 15, 2007. For an executive summary that contains the survey questions and responses, please contact Michael Krems at krems@kremspr.com.
About PriceRunner
PriceRunner is an internationally acclaimed comparison shopping engine that provides consumers with easy access to comprehensive buying information on a wide variety of products. PriceRunner aggregates product details, user and expert product reviews, retailer ratings, as well as the best available prices in one convenient location. PriceRunner distinguishes itself from other comparison shopping engines by including prices from both online and offline retailers providing consumers with the broadest price comparisons and always lists the lowest price first. PriceRunner’s goal is to provide consumers with the ability to make an informed and confident buying decision. PriceRunner is a ValueClick, Inc. company.
About ValueClick
ValueClick, Inc. (Nasdaq: VCLK) is one of the world’s largest integrated online marketing companies, offering comprehensive and scalable solutions to deliver cost-effective customer acquisition for advertisers and significant revenue for publishers. Through its individual brands, ValueClick’s performance-based solutions allow advertisers and publishers to reach their potential through all online marketing channels, including display advertising, affiliate marketing, lead generation, search, e-mail, and comparison shopping. ValueClick brands include Commission Junction, Hi-Speed Media, Mediaplex, PriceRunner, ValueClick Media, and Webclients. For more information, please visit www.valueclick.com.
* Note regarding contest: Runs nationwide excluding New York, Florida, and where prohibited by law.
This release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, ValueClick’s ability to successfully integrate its recently completed Fastclick and Webclients mergers, trends in online advertising spending and estimates of future online performance-based advertising. Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. Important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed under “Risk Factors” and elsewhere in filings with the Securities and Exchange Commission made from time to time by ValueClick, including: its Annual Report on Form 10-K filed on March 31, 2006 and amendment to its Annual Report on Form 10-K/A filed on April 21, 2006; its current report on Form 8-K filed on February 27, 2006; recent quarterly reports on Form 10-Q and Form 10-Q/A, other current reports on Form 8-K; its amended registration statement on Form S-4, filed on September 27, 2005; and its final prospectus on Form 424B3 filed on September 28, 2005. Other factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include, but are not limited to, the risk that market demand for online advertising, and performance-based online advertising in particular, will not grow as rapidly as predicted. ValueClick undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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