Information and Decision-Making: With A Focus on Internet Shopping

ABSTRACT

This following report empirically analyzes the relationship between information and decision-making amongst consumers, with a special focus on the new product provision method of Internet shopping. It identifies, in addition, the characteristics of repeat buyers with regard to information gathering and decision-making.The following conclusions were reached as a result of this research.

In determining which consumers are more likely to shop online, the most important factors are the total amount of Internet use, and the proportion of Internet-based information gathering time to total information gathering time. The perceived reliability of Internet information as compared to other media sources is, in fact, not so important.

Consumers who make decisions based on information that they have actively gathered themselves (as opposed to passively, as through the television, for example) have a high likelihood of shopping through the Internet.

Regardless of the product or service, the consumer is likely to be a repeat consumer if he or she has high involvement. This is most likely due to the fact that consumers with high involvement, because they have clear criteria in mind and are thus able to identify and gather the information that is important to them, tend to have higher satisfaction with their purchases.