How Online Consumers Break Our Assumptions

In this video:

The increase in online shopping and how customers behave in digital spaces has drastically disrupted how businesses reach their customers. Traditionally, consumers were limited to the goods and services available in their area, and they tended to rely on direct communication from the provider in order to understand the product. The customer journey was simple: you needed something, you went to the appropriate store in your neighborhood, and you selected from the options there.

In contrast, the internet and the rise of online shopping have made geographical limitations much less of an issue and have created new forms of communications between customers. Product review websites, like Yelp or Google reviews, unboxing videos, and other forums can allow prospective buyers to gain authentic feedback from fellow consumers at a rapid pace. While this kind of communication can help customers make informed decisions while shopping, it also provides businesses with data on their consumers—  how they learn about products, what product and service features matter to them, and how many touchpoints do they look at online before deciding to make a purchase—that they can use to enhance their product design and marketing efforts.

In this video, Kirk Kristofferson, Assistant Professor of Marketing at Ivey Business School, delves into how businesses can better understand and create opportunities based on their customers' online behaviour.

About The Ivey Academy at Ivey Business School

The Ivey Academy at Ivey Business School is the home for executive Learning and Development (L&D) in Canada. It is Canada’s only full-service L&D house, blending Financial Times top-ranked university-based executive education with talent assessment, instructional design and strategy, and behaviour change sustainment. 

Rooted in Ivey Business School’s real-world leadership approach, The Ivey Academy is a place where professionals come to get better, to break old habits and establish new ones, to practice, to change, to obtain coaching and support, and to join a powerful peer network. Follow the Ivey Academy on LinkedIn, Facebook, and Instagram.