SOURCE: iStorez

November 24, 2008 13:39 ET

iStorez Survey Reveals That Consumers Believe Online Shopping Offers Fewer Financial Benefits and Less Variety

New Study Also Reveals That Only 1 in 10 Americans Now Shop Just 'For the Fun of It,' and More Than 70% Are Unhappy With Their Online Shopping Experience

SUNNYVALE, CA--(Marketwire - November 24, 2008) - While researchers cite online shopping as a relatively bright spot in a dismal market for retailers, a comprehensive new survey by iStorez reveals consumers are dissatisfied with that option. Nearly 70% want improvements in their online shopping experience, the survey reports, and that number is even higher, 78%, for younger shoppers, a prized demographic. In particular, just 55% find online shopping more convenient than shopping in stores, only 36% find greater financial rewards, and a mere 35% find more variety -- a major surprise given that no store or mall, no matter how big, can match the number of choices available online. And, here's a perfect snapshot of the American economy today: Only one in 10 Americans goes shopping just for the fun of it. By contrast, 42% only go when they "need something." Still, spending big on attire apparently pays off: Election results notwithstanding, former VP candidate Sarah Palin, who famously received $150,000 in designer clothing, edged out (though just barely) incoming First Lady Michelle Obama, Cindy McCain and Hillary Clinton for having the most admired fashion sense.

Those are just a few of the surprising, sobering and just plain strange findings of a comprehensive study commissioned by iStorez.com, creator of a brand new way to shop online that brings all the specials and deals from the major stores and brands to a single location in a simplified and uniquely personalized way, and conducted by Kelton Research, a leading national public opinion company.

"This survey offers further evidence that the continued growth of online shopping is ready to stall, if it hasn't already, and that's a serious problem all of us in the retail community need to address -- and fast," said Anand Jagannathan, CEO of iStorez. "The truth is that the online shopping experience hasn't changed much in the last decade. If shoppers are telling us that online shopping offers less variety than real-world malls, then we need to listen hard and make some major changes."

Among other findings in the survey:

--  32% describe themselves as "bargain hunters" who will do everything
    they can to get the best deal, like clip coupons or look for sales
--  Only 21% say the Internet offers more personalization than the real
    world
--  Half the male community shops for clothes only on an as-needed basis,
    while 35 percent of women do. On the flip side, women are much more likely
    (38% vs. 26%) to be "bargain hunters"
--  17% percent would love to be a "perpetual weekender" and always wear
    clothing from labels like Dockers or Birkenstock. Far fewer would be happy
    as a "metro sophisticate" (8%) or "urban fashionista" (8%) in high-end
    designer duds like Armani or DKNY, at least for the long term
--  40% of 18-34-year-olds approve of Michelle Obama's style, vs. 29
    percent of the over-35 crowd.
    

The survey also offers an unfiltered look at what shoppers like about going online (and what they might like more): 55% say it's the convenience, while the number plummets to 21% for personalization. In fact, a better connection between online and offline shopping -- as well as sites that streamline and simplify the process -- top the list of desired improvements.

iStorez, which launched earlier this month, is specifically designed to provide a complete shopping experience that combines the best of the two worlds. iStorez puts higher priority on consumer simplicity and usefulness, focusing on how we shop and easily find what we're looking for. From a single online destination, and one that takes visual browsing and discovering to the next level, consumers can shop the latest specials and promotions from hundreds of top brands and retailers. They can also get a first-look at new collections and trends, and shop millions of products from thousands of retailers.

In another major draw, features enable shopping by theme ("look," season, holiday, event), personality type, color, fabric and more. And powerful personalization includes letting you create your own personal "My Mall" populated only with the stores, styles and brands you care about -- continuously refreshed and updated to reflect the latest trends and up-to-the-minute specials. The "hunt" is always on, but iStorez takes away the headache of searching site to site, store to store, page by page, rack by rack.

"Shopping should be fun, it should be cool, and it should be easy. By piling on volume -- more options coming online at breakneck speed -- without accompanying attempts to provide simplicity and personalization, we've gotten away from what should be our founding principles," Jagannathan added. "At iStorez.com, we get back to those basics. And we keep it personal."

iStorez

My Stores. My Style. My Way.

iStorez is a brand new way to shop the major brands and stores. It provides a complete shopping experience online -- mirroring the physical world with the visual Internet equivalent of shopping by store and theme. For the first time, you can shop all the latest specials and promotions from more than 500 retailers at once, and also search 18 million products from 15,000 stores. Everything you want, when and how you want it, all in one place. iStorez is also the only destination that lets you create (in minutes) your own personal mall -- a place that reflects your favorite stores and styles. At iStorez, you can shop by item, price, size, fabric type, color, horoscope and more. It takes theme-based shopping to the next level, enabling you to shop by look, ensemble, seasonal trends, special event, holiday or topic. Personal, social, viral, complete: www.istorez.com

Contact Information

  • Media Contact:
    Paula Dunne
    Contos Dunne Communications
    408-776-1400 (o)
    408-893-8750 (m)
    Email Contact