A method to get insights about how consumers look for information and purchase products online
What is it about?
Consumers spend a lot of time searching for information online and e-retailing is becoming increasingly important. The paper proposes an approach to quantify how much consumers value different product characteristics and how much effort they are willing to put to explore different options in an online retailer.
Why is it important?
We describe in detail how to use data from an online retailer (e.g., amazon.com) to quantify consumer behavior during search and purchase. This is important because many decisions made by managers depend on how consumers react to product characteristics and are significantly influenced by how much information they can collect before deciding.
The following have contributed to this page: Paulo Albuquerque and bart bronnenberg