Chadwick Martin Bailey finds 43 percent of bank customers believe online banking services are key to convenience
Boston, MA (PRWEB) August 15, 2012
A new study of over 1,400 consumers, from market research firm Chadwick Martin Bailey, finds credit unions are catching up with larger banks in the race for online banking convenience. For years large banks have been the choice of customers who valued convenience, while smaller banks and credit unions were chosen for personal service. The ease of online and mobile banking is changing this dynamic, as credit unions offer remote services, and bridge the convenience gap for their customers. Additional findings include:
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For many bank customers, online banking is a key element of banking convenience: Sixty-four percent of all bank customers utilize online banking in some form, and a fifth have used mobile banking. While customers still value branch and ATM access, 43% agree online services are a key element of banking service.
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Banks can differentiate themselves by offering good service—including online and mobile banking: Nearly half (48%) of bank customers believe banks can differentiate themselves with good service. The definition of “good service” is evolving; convenience is no longer just about more branches and ATMs, but also about innovative technologies and remote banking options.
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Credit unions are upending the stereotype of being less tech savvy than larger banks: While larger banks have a reputation for offering the most online and mobile services, credit union customers report online banking usage that is just as high as larger bank customers, and they give their institutions higher marks on performance.
“These findings suggest a new banking value proposition is emerging,” says Jim Garrity, Managing Director of Chadwick Martin Bailey’s Financial Services practice. “The growth of online and mobile banking services means convenience and accessibility don’t belong solely to large bank customers. Banks able to provide secure, usable, and reliable online services combined with top notch service will be most competitive.”
About this Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. A report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,433 U.S. residents, aged 18 to 75, via a nationally representative online survey questionnaire within the United States. The survey was conducted by Chadwick Martin Bailey in February of 2012. Click the link to download the report: http://blog.cmbinfo.com/the-new-banking-value-proposition
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Honomichl 50 ranked custom market research firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 in Boston, the company serves clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate data into simple, business decision-focused deliverables. For more information visit http://www.cmbinfo.com
Boston company named to the American Marketing Association’s list of the “Top 50 U.S.Market Research Organizations.”
Boston, MA July 2, 2012- Chadwick Martin Bailey (CMB) was named to the “Honomichl Top 50,” based on its 18.3% revenue growth in 2011. The Honomichl Top 50 is considered the "Fortune 500 of market research firms,” and the announcement comes as the firm continues to expand its brand optimization, segmentation, customer experience, loyalty and social media research offerings to support its clients on critical strategic and tactical decisions.
Chadwick Martin Bailey partners with clients to provide custom market research that addresses the most strategic business decisions. CMB applies leading edge market science in innovative and practical ways across each of its key practice areas: Financial Services, Technology and Telecom, Travel and Hospitality, Retail/e-Commerce, Healthcare, and Insurance. This year, Chadwick Martin Bailey also introduced Pinpoint Suite, a software platform that when integrated with customer experience measurement programs allows managers to act on real-time customer feedback.
“Being honored as a Top 50 firm speaks not just to the quality of our work, but to the strength of our customer-centric approach,” commented President Anne Bailey Berman. “As we enter a new era of Big Data, we are here to help companies face the challenge of translating multiple data sources into informed insights and business decisions.”
Longtime client Kara Wallace, Director of Global Consumer Insights & Marketing Strategy at Royal Caribbean International added, “The research we do with CMB has lead us to make significant business decisions at the right time and in the right way. Even beyond their advanced analytics, I truly value the people and our partnership we have built through the years. I work with a team of people who are invested in making our business successful.”
About the Honomichl 50 List
The “Top 50 U.S. Market Research Ranking and Review” is a report published by the American Marketing Association (AMA), North America’s largest professional marketing association, and Inside Research(R), a one-source authoritative report founded in 1990 by Jack Honomichl, a leading market research industry authority.
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm that works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by John Martin and Anne Bailey Berman, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate data into simple, business decision-focused deliverables. For more information visit http://www.cmbinfo.com
A new study of over 1,400 consumers, from market research firm Chadwick Martin Bailey, suggests that when forced to choose, bank customers would prefer a further drive to a full-service bank or a teller-less bank, to fee hikes or service reductions. Once viewed as essential to banking convenience, proximity to a full service bank is the first thing consumers are willing to give up. Other notable findings from the study regarding bank location and convenience include:
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The perceived importance of a physical bank branch doesn’t match up with consumer banking behavior: Teller-less options, particularly mobile and online banking services, have reduced the need for branch visits. Sixty-seven percent of bank customers say that having a physical branch close by is very important, but even 41% of these customers visit fewer than 5 times per year.
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Banks don’t have to be steps away to be seen as convenient: The “sweet spot” for branch convenience is relatively wide. Bank customers within ten miles of their bank branches say they are the most satisfied with branch convenience.
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The idea of a teller-less branch is confusing for some customers: Teller-less branches (where sales professionals are available to answer product and service questions in addition to automated services) were seen by customers as less desirable than closing their local branch altogether, this counter-intuitive finding suggests that the concept will require banks to fully explain the benefits of the teller-less branch.
“These findings reveal that some aspects of the banking relationship, we once perceived as critical, are shifting,” says Jim Garrity, Managing Director of Chadwick Martin Bailey’s Financial Services practice. “Banks must offer alternatives to full-service branches, lower transaction costs without diminishing product sales, and at the same time educate customers by effectively messaging and communicating how these changes will affect service and behavior.”
Banks that will be successful in shifting away from the local branch model are those that will provide alternatives to physical branches that satisfy bank customers’ desire for convenience and service, and can pass along the savings from reduced overhead to their customers.
About this Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. A report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,433 U.S. residents, aged 18 to 75, via a nationally representative online survey questionnaire within the United States. The survey was conducted by Chadwick Martin Bailey in February of 2012.
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm that works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by John Martin and Anne Bailey Berman, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate data into simple, business decision-focused deliverables.
New study from Chadwick Martin Bailey finds 63% of consumers who watch TV or video on a tablet did so even when there was a TV available
A new study of over 1,400 consumers, from market research firm Chadwick Martin Bailey, uncovers major changes in how people are watching TV and movies, and the choices they make when it comes to the content they watch online. Once the domain of early adopters, more than half (54%) of all consumers have already tried alternatives to pay TV (i.e. Netflix, Apple TV, or a network’s website). An even greater shift is expected, with 16% of all pay TV customers saying they are likely to reduce their level of pay TV service in the next year. In addition to the notable findings below, a summary report is available for download from Chadwick Martin Bailey’s website.
This study finds consumers of all stripes would adopt online TV viewing more broadly once providers develop a simple, reliable, and cost effective solution. According to this study, many of the prerequisites for this shift are already in place.
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The biggest screen doesn’t always win, even at home. Core viewing behaviors are changing; 63% of people who recently watched TV on a tablet say they used a tablet even though they had access to a television with the very same content available.
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Streaming content is not only acceptable, it’s preferred. If mainstream consumers had an attachment to physically owning their content, they’re losing it. Respondents found streaming video twice as appealing as downloading and storing content on their own devices.
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All of this is happening in the midst of a cost-cutting consumer mindset. Cost concerns came up again and again in the findings, as the main reason for dropping pay TV, for cutting back on pay TV, and for never signing up for pay TV in the first place. Even 1 in 5 of pay TV’s most valuable subscribers (highest ARPU) say they are likely to cut back in the year ahead.
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Online viewing is already more common than one might think. Over half of all consumers, not just early adopters, have gotten a taste of viewing TV and/or movies online via services like Netflix, Apple TV, Hulu, or a network website.
“These findings show every part of the consumer TV and movie watching experience is up for grabs,” says Jon Giegengack, Director at Chadwick Martin Bailey. “In the digital music revolution, the primary shift was in how music was bought and stored. When it comes to TV and movies, everything has the potential to change: whom consumers buy from; how much they pay (if they pay at all); and the range of times and places offering viewing opportunities.”
“Consumers are ready to embrace a new method of accessing TV content,” agrees Peter Fondulas, CMB’s co-author on the project. “They’ve got motive, they’ve got interest, and a majority have already begun kicking the tires. What’s missing now is the right platform and offer—something easy to use, understandable, reliable, and affordable. Various players are working hard to come up with that solution; as we learned from the music industry, the first one to offer it effectively will be in an extremely strong position.”
About this Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. A report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,493 U.S. residents (aged 16-75 who have high speed internet access at home and watch at least two hours of television programming per week), via a nationally representative online survey questionnaire within the United States. The survey was conducted by Chadwick Martin Bailey in December of 2011.
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm that works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by John Martin and Anne Bailey Berman, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate data into simple, business decision-focused deliverables. For more information visit http://www.cmbinfo.com.
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Boston, MA February 13, 2012 - Chadwick Martin Bailey (CMB) has appointed Andrew Wilson as Account Director. Andrew brings nearly a decade of research and consulting experience to CMB. He has helped many Fortune 1000 companies answer their most difficult strategic questions by designing sophisticated qualitative and quantitative research that asks the right people the right questions at the right time.
In addition to Andrew’s consulting experience, he has taught qualitative and quantitative research techniques to clients interested in collecting the Voice of the Customer independently. He has also published articles on new product development, conjoint analysis, and best practices for using online user generated content (UGC).
Most recently Andrew served as an Account Executive at Applied Marketing Science, in Waltham, MA, where he was a lead consultant within the company’s Product and Process Innovation division. Before this, Andrew spent 4 years at STAT, Inc. managing and advising clients on retention and product development. Andrew earned an MS in Marketing Science from Bentley College.
“Andrew’s varied research experience will be a tremendous asset to our clients,” comments Jim Garrity, Vice President at Chadwick Martin Bailey. “His passionate thought-leadership and consultative approach make him a perfect fit for Chadwick Martin Bailey.”
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by John Martin and Anne Bailey Berman, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate the data into simple, business decision-focused deliverables.
Media Contact: Megan McManaman
mmcmanaman@cmbinfo.com
Phone: 617.986.7424
Study from Chadwick Martin Bailey and iModerate Research Technologies finds half of smartphone owners have scanned a QR code.
A recent Consumer Pulse study of over 1,200 U.S. consumers conducted by Boston-based custom research firm, Chadwick Martin Bailey (CMB) and iModerate Research Technologies, looked at how people are using QR codes and what they’re looking for when they scan. The study also looks at what will motivate consumers to make it part of their purchase process.
Quick Response, or QR codes, are everywhere from print advertisements to public transportation and websites, and while only 21% know QR codes by name, nearly all respondents reported having seen the ubiquitous black and white squares. For smartphone owners, whose devices are capable of scanning the code, QR codes are becoming a part of the purchase process. Half of smartphone owners surveyed had scanned a QR code, and nearly 20% of them made a purchase after scanning, indicating a willingness to make QR codes part of the purchase process for tech-savvy shoppers.
“Consumers are curious about QR codes and the information they can get,” notes Jeff McKenna, Senior Consultant at Chadwick Martin Bailey. “But companies need to understand what consumers expect from a scan whether it’s more information, a coupon, or exclusive offer. Companies who use QR codes successfully to drive engagement or sales will be those who meet customer expectations and offer compelling reasons to scan.”
The study also looked at ease of use, with 70% of those who scanned finding scanning to be a very easy process. Results were more mixed when respondents were asked to rate the usefulness of the information they got from scanning the code, only 41% reported the information they got to be useful.
To fully contextualize this research, iModerate conducted one-on-one conversations with 22 Americans over age 18. In the words of respondents:
“[I] received [a QR code] at the hotel front desk and used it to download their mobile app. Then I had full access to reservations, rewards, etc. [It gave me] easy access to reservations while mobile … simple, clean, no long issues, delays or any other frustrations.”— Past User, female, 55 to 59
“I think it would be good if QR codes could be used for special events for stores when they are having a sale and only the people who use QR codes would know about it.”— Never Used, female, 25 to 29
“I tend to see them for things I really do not care about. I have a smartphone but have never downloaded the app. I also do not have any friends or know anyone who has. It doesn't sound like something fun for me.”— Never Used, male, 30 to 34
As QR codes and similar technologies allow companies to engage customers closer to the point of sale, manufacturers will begin to take advantage of its growing role in the purchase process.
About This Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. A report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,228 adults (aged 18 and over) via a nationally representative online survey questionnaire within the United States by Chadwick Martin Bailey in October of 2011. In addition, iModerate Research Technologies conducted one-on-one online conversations to more fully contextualize their holiday shopping plans.
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by John Martin and Anne Bailey Berman, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate the data into simple, business decision-focused deliverables. For more information visit http://www.cmbinfo.com
About iModerate Research Technologies
iModerate Research Technologies is a leading qualitative market research firm with a distinct approach to uncovering the most meaningful insights. Based in Denver, Colorado and founded in 2004, iModerate is known for pioneering and championing the online one-on-one. With over 100,000 conversations to our credit, and an in-depth knowledge of how consumers think and behave, we have helped countless organizations obtain the insights that matter most to them. For more information please visit http://www.imoderate.com
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Study from Chadwick Martin Bailey and iModerate Research Technologies finds free shipping is top promotion motivating online shoppers.
Boston, MA (PRWEB) November 18, 2011-A recent Consumer Pulse study of over 1,400 U.S. consumers conducted by Boston-based custom research firm, Chadwick Martin Bailey (CMB) and iModerate Research Technologies, looked at how people are planning their Black Friday, Cyber Monday, and gift buying this holiday season. The study also looks at what drives shoppers to and from the retailers who want their business.
Cyber Monday—the Monday after Thanksgiving when online retailers historically offer steep discounts and special promotions, is gaining ground with its in-store counterpart Black Friday in terms of expected activities. While it still lags behind Black Friday in volume of sales (according to ComScore, Cyber Monday is the heaviest online shopping day of the year with sales topping $1 billion in 2010, compared to the same year’s Black Friday sales of $10.6 Billion) 38% of people plan to shop on Cyber Monday while a nearly identical percentage (39%) plans to shop Black Friday. And it’s not a zero sum game, 61% of Cyber Monday shoppers will also be searching stores for deals the day after Thanksgiving.
“Online retailers have clearly taken notice and are making strong preparation,” says Jeff McKenna, Senior Consultant at Chadwick Martin Bailey. “You will be seeing a big push by online retailers concurrent with Black Friday events as they seek to attract online shoppers. Knowing that many Black Friday shoppers also intend to shop online, they are a prime target for online offers.”
The study also looks at promotions motivating holiday shoppers, more than half (52%) of online shoppers list free shipping as the number one motivation to purchase. In-store or online, consumers are on the hunt for deals, only 15% plan to spend more, half plan to spend the same as last year, and nearly a third intend to spend less.
To fully contextualize this research, iModerate conducted one-on-one interviews with 22 Americans over age 18. In the words of holiday shoppers:
“I want to get more gifts but spend the same amount of money. I will try harder to use coupons and look for good deals than in previous years.” - Female, 30 to 34
“Sales and coupons are very important. I keep my eye out for sales, especially online. I'll usually look out for coupons for my grocery shopping, stocking stuffers, and decorations.”- Female, 25 to 29
About This Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. A report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,481 adults (aged 18 and over) via a nationally representative online survey questionnaire within the United States by Chadwick Martin Bailey in October of 2011. In addition, iModerate Research Technologies conducted one-on-one online conversations to more fully contextualize their holiday shopping plans.
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by John Martin and Anne Bailey Berman, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate the data into simple, business decision-focused deliverables. http://www.cmbinfo.com
About iModerate Research Technologies
iModerate Research Technologies is a leading qualitative market research firm with a distinct approach to uncovering the most meaningful insights. Based in Denver, Colorado and founded in 2004, iModerate is known for pioneering and championing the online one-on-one. With over 100,000 conversations to our credit, and an in-depth knowledge of how consumers think and behave, we have helped countless organizations obtain the insights that matter most to them. For more information please visit http://www.imoderate.com
Leveraging over 25 years of customer satisfaction research experience, Pinpoint Suite drives management action and improves performance at every level.
Boston, MA – October 27, 2011 – Chadwick Martin Bailey (CMB), a Boston-based custom market research firm, today announced the launch of Pinpoint Suite, a customizable collection of web-based tools to improve the usefulness of customer feedback. Pinpoint Suite integrates with existing customer feedback measurement programs to let managers proactively build and strengthen customer relationships and effectively lead performance improvement in their organizations.
“While companies are spending millions of dollars to measure customer satisfaction, they lack the tools to identify, translate, prioritize, and act on the data they get,” notes Chadwick Martin Bailey, COO T.J. Andre. “CMB found two-thirds of companies report difficulty in translating the data from their customer satisfaction programs into business improvements. Pinpoint Suite fills the gap between the data pipeline and actual insights and business improvements; maximizing existing program investment, and allowing non-analysts to turn data into action.”
“It’s an application based on basic process improvement: identify a critical issue, determine how to fix it, plan and take action, and, finally, measure the result,” continues CMB Senior Consultant, Jeff McKenna. “The simple-to-use reports and tools enable all employees responsible for managing customer experience to go through each of these phases to make informed decisions and set clear plans of action.”
Pinpoint Suite goes beyond traditional customer experience management tools; it engages managers at each level of the organization and is customized to support specific roles within the company. At the executive level, Pinpoint Suite’s enterprise-wide insights and tools help executives prioritize decisions, set plans, and allocate resources. For managers, Pinpoint Suite lets them “close the loop” on systemic issues by providing tools that clearly identify problems to fix, list potential solutions, enable a planning mechanism, and track the results of the actions taken. Real time insights let front-line staff identify, understand, and resolve individual service failures as they occur. Pinpoint Suite combines state of the art analytics with customized, highly-usable, and engaging tools to make high-impact business decisions.
Click here for more information
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research and consulting firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. Founded in 1984 by Anne Bailey Berman and Dr. John Martin, the company has corporate headquarters in Boston, Massachusetts, serving clients in more than 30 countries around the globe. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate the data into simple, business decision-focused deliverables. www.cmbinfo.com
As customer satisfaction surveys become commonplace for nearly all companies, a study by Chadwick Martin Bailey examines who
and why people complete them
Boston, MA April 13th, 2011- A recent study of over 1,400 U.S. consumers conducted by Chadwick Martin Bailey finds over one quarter of U.S. consumers have completed a customer satisfaction survey in the last twelve months. Most people complete satisfaction surveys because they have the company’s best interest at heart: over half say they fill out customer satisfaction surveys to share a good experience (57%) or to improve the company (50%).
“Our research shows that companies currently managing customer satisfaction or ‘Voice of the Customer’ programs have a huge opportunity to cultivate and nurture key customers,” says Jeff McKenna, senior consultant and director of customer satisfaction solutions at Chadwick Martin Bailey. “Overall, they are showing devotion to a company and, at the very least, companies should be thanking the customers who provide insightful comments, whether they are problems or praises.”
Unlike the common perception that people respond to satisfaction surveys only because they are upset with the experience, the research finds that 81% respond equally for positive and negative experiences. Just 4% say they respond only when they have had a bad experience, whereas 13% say they typically do it only when they have a very positive experience.
“Looking more deeply at the results, we see some unique segments of people responding to these surveys. This indicates to me an opportunity for companies to tailor post-survey messaging and interactions if companies choose to engage these people more fully,” adds Mr. McKenna.
For instance, men and women have different motivations; 60% of women participate in customer satisfaction surveys to share a good experience, compared to 52% of men. Most men (53%) fill them out to improve the company compared to 47% of women. The biggest gender differences are around discounts, 50% of women participate to receive a discount compared to 40% of men.
About This Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. An executive summary report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,491 adults (aged 18 and over) via a nationally representative online survey questionnaire within the United States by Chadwick Martin Bailey the week of January 20, 2011
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. In 2009 they were listed on the Honomichl Top 50 and continue to demonstrate their thought leadership at numerous conferences worldwide. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate the data into simple, business decision-focused deliverables. www.cmbinfo.com
Boston, MA March 9, 2011- A new report from Chadwick Martin Bailey and iModerate Research Technologies finds smartphones are becoming an indispensable tool in the shopping experience. The study of over 1400 consumers shows over half of consumers are using their smartphones to enhance their shopping experience, especially those under 35 (67%). iPhone owners top the list with over 70% reporting they use applications or the phone’s web browser to assist them while shopping in-store. iPhone owners are not only comparison shopping on their smartphones, 41% are also making purchases on their phone.
“Given the strong growth in smartphone ownership, everyone is dependent on the in-store experience – from retailers to product manufacturers – each must take advantage of opportunities these devices provide for generating sales and improving the customer experience,” says Jeff McKenna a senior consultant for Chadwick Martin Bailey. “Along with designs for packaging, displays, and signage, we will see smartphone-based communication as a necessary element of retail planning.”
The study also identifies key differences by gender. Women are more likely to use their smartphone to find discounts, while men are more likely to check online reviews. When it comes to the apps consumers use on their phones, 44% use a bar code scanning app, 38% use a discount app (e.g. LivingSocial) and 31% turn to review sites. Qualitatively, some consumers said:
“I use my Smartphone to scan the barcode and check the prices online and reviews of the product…saving time and effort by purchasing the right product for me the first time around so I don't have to return and buy again.” -Female, age 18-24
“I was able to shop with more confidence knowing that I was getting a fair price.” - Female, age 40-44
In addition, the study also found that 23% of smartphone owners have made a purchase on their device, the majority of which (41%) take place on an iPhone. Entertainment purchases such as music, movies and TV shows top the list at 46%, banking makes up 39%, electronics 29% and online auctions 25%.
About This Research
This study was done as part of Chadwick Martin Bailey’s self-funded CMB Consumer Pulse program. An executive summary report with additional findings from this study is available as a free download from Chadwick Martin Bailey. Data was collected from 1,491 adults (aged 18 and over) via a nationally representative online survey questionnaire within the United States by Chadwick Martin Bailey the week of January 20, 2011. In addition, iModerate Research Technologies conducted online, one-on-one discussions to more fully contextualize their mobile shopping behaviors.
About Chadwick Martin Bailey
Chadwick Martin Bailey is a Boston-based custom market research firm who works with many of the most successful companies and best known brands in the world to help them acquire, maintain, and grow their customer base. They have recently been listed on the Honomichl Top 50 and continue to demonstrate their thought leadership at numerous conferences worldwide. Chadwick Martin Bailey focuses on using leading-edge research techniques to collect and translate the data into simple, business decision-focused deliverables. www.cmbinfo.com
About iModerate Research Technologies
iModerate Research Technologies listens, connects and digs deeper with consumers online to provide the research story organizations need to win in the marketplace. Years of research and development by veteran field experts, as well as analytical specialists, produced the concept, methodology and software that have allowed iModerate to help Fortune 500 companies, large and boutique research firms and prominent organizations strengthen their research results. Focused on providing customized qualitative solutions, iModerate is broadening online research capabilities by delivering essential qualitative insight. iModerate is based in Denver, Colorado. For more information please visit www.imoderate.com