Hissingsid - 7:47 am on May 10, 2012 (gmt 0)
Our conversion rate now, both on-line and real world, is just under half what it was before the recession. IMO people are doing far more shopping around and where in the past they would be prepared to pay a little more from an established name in the niche now they just keep trying to get a cheaper price. I think they visit more sites call more 800 numbers and shop around far more than they did.
Interestingly though repeat orders and therefore customer loyalty is up for us. Overall business is stagnant with the level of repeats we have we would be growing strongly if conversion rate for new customers was what it was for many years previously.
I think we just need to get used to it because even if the economy improves this behaviour is learned and a significant wedge of the market will continue to do more shopping around for the very best price.