But now, if you want to buy a product, mostly probably you search online for reviews and testimonials, you examine the product's photos, read the product descriptions, compare the prices, then you either buy online or go PICKING UP the product in a shopping mall. This is the changing in consumer behaviour - THE SALE PROCESS BEGINES AT HOME!!! It happens all around the world.
I do the same thing when I want to buy a book. 5 years ago, when I wanted to buy my book, I had to drive all the way to a bookstore to check if the book suitable for me. But now, the first things I do are going to Amazon.com and check the reviews and testimonials. If I decided to buy, I go to an online bookstore (UK or US online bookstore, sorry for Malaysian bookstores, it is too expensive) and get the book.
I don't know how many exactly of Malaysians do the same thing shopping their products. I hope I can get an accurate statistics. But one thing I am so sure is, this happens everyday and the amount of people do product research online is keep increasing.
Google just launched an eBook called – The Zero Moment of Truth (ZMOT). The ZMOT is online decision-making moment.
According to Jim Lecinski, the Traditional 3 –Step Mental Model (the image below) is changed. Pre-internet age, a person be aware of a product and want to buy it (stimulus), he/she goes to a shopping mall to search the product (First Moment of Truth) then he/she gets the product home and use it or experience it (Second Moment of Truth).
But the New Mental Model is different (the image below). A person be aware of a product and want to get it (stimulus), but he/she doesn't go to a shopping mall to search for the product detail; instead he/she does searching online and makes decision AT HOME (the Zero Moment of Truth), then he/she either shops online or goes shopping mall to pick up the product. It may sound too extreme in Malaysia, but it happens in America.
Let's study few statistics below.
Source: Changing in Consumer Behaviour
It is not a surprise that it happens to every Malaysians soon (less than five years) since the world changes so fast. The question is the way we shop is changing and marketing strategies are simply not keeping pace. Do you have a website for your company? Do you fully utilize your company website? Do you do any internet marketing for your company website? Or I should ask, are you prepared for the changing. A threat or an opportunity? It depends on you how to handle it.
Need help in doing internet marketing in Malaysia, why not contact us at 017 24 30 307 (Kent) or via contact form
Pre-internet age, when you wanted to buy a product, you drove all the way to a shopping mall, looked for a parking, searched for the product, compared the prices and finally made your payment.