Millard Study: Value Increasingly Important to Consumers, Web Provides ItThe Web offers the best values compared with catalogs and retail channels, according to the results of an Online Co-Op Survey by list firm Millard Group released yesterday. Of the respondents, 68 percent said value is very important with another 30 percent saying it is fairly important. Also, 71 percent said value is more important now than it was five years ago.
The majority of respondents -- 53 percent -- said the Web offered the best value. The catalog channel had 32 percent identify it as the best value and retail had 16 percent. The survey was fielded in July and includes responses from 66,000 online buyers from 21 participating catalogers.
Most respondents selected quality and price as the most important factors when making a purchase, with 37 percent and 26 percent, respectively. Nearly 86 percent of respondents said they would be likely to recommend the site they were rating to friends and family.
Millard Group Inc., Peterborough, NH, conducts its Online Co-Op Surveys on a quarterly basis. Online retailers need not be Millard Group clients to participate in the surveys.