NEXT BIG THING: Full integration of Krillion in the offers of Local Corp's platforms
Krillion transforms the way ready-to-buy consumers find and buy national brands in their neighborhood by making it easier for them to find out which local retailer has the product they want, in-stock, right now.
Krillion is the leading local shopping search engine, proving up-to-the-minute intelligence on where specific branded products are sold, and which retailers have them in stock at that moment. Krillion aggregates product, pricing and availability information from retailers and manufacturers to create the largest structured index of products, retailers, locations and in-store stock availability for 40,000 cities across the United States.
Local Corporation Announces Results of Consumer Research Study; Over 60 Percent Research Products and Services Through Mobile; PCs Still Part of the Equation
Brick and Mortar Stores Still Important for 90 Percent of Shoppers
IRVINE, Calif.--(BUSINESS WIRE)--Apr. 3, 2012-- Local Corporation (NASDAQ:LOCM), a leading online local media company, today unveiled preliminary data from a research report into the process consumers follow along the path to purchase.
The online study was commissioned by Local Corporation and conducted by the e-tailing group to explore consumer shopping behavior across a growing array of mobile devices, including consumer preferences and plans for researching and purchasing multiple categories of products. The study analyzed responses from over 1,000 consumers.
Initial findings reveal that today’s consumer takes a highly personalized path to purchase, utilizing multiple devices, from PCs to smartphones to tablets. Importantly, a physical store is still important for 90 percent of shoppers and 60 percent of respondents reported that they have researched products and services several times a month using a mobile device, while PCs still play an important role in the shopping process.
Driven by the proliferation of devices and channels available today, consumers are exhibiting increasingly disparate pre-purchase behavior based on their specific needs and the specific products they are interested in. The shift in shopping behaviors adds complexity and challenges to advertising for national brands and retailers trying to reach consumers as they are shopping for products.
“The path to purchase has changed very quickly over the past few years from a relatively predictable, linear progression with less channels and options, to something much more fluid and personal,” said Sherry Thomas-Zon, vice president of local shopping, Local Corporation. “The challenge for national brands and retail marketers is to keep pace with consumers as they move among devices and locations and to provide timely, compelling, engaging information that guides them to the purchase.”
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More than 4-fold outpacing of growth of mobile market: Mobile traffic of Local Corp also continued to grow, representing over 24.5 million MUVs during the third quarter 2012, up over 274 percent from 6.6 million MUVs during the year ago period.