Nielsen report: impact of social media on buying decisions

The most recent Nielsen Global Online Shopping Report (.pdf) highlights the importance of online opinions as part of the decision making process in purchasing products and services.

Example from the Indian consumer market:

• Many Indian consumers went so far as to say they would not buy products or services without considering online reviews, and again this was particularly important in the purchase of Consumer Electronics (41%), Car (38%), and Software (35%).
• With online reviews and opinions weighing so heavily in consumer’s decision making processes, it is interesting to note that more than four in ten Indians are more likely to share (post a review/ Tweet/ review) a negative product or service experience online than they were to share a positive experience. At the country level, this tendency was highest amongst consumers in China (62%), Vietnam (46%), Singapore and India (both 44%).
• Half the Indian consumers (50%) use social media sites to help them make online purchase decisions. This percentage is higher for the Asia Pacific region at 60 percent who use social media sites to help them make purchase decisions (compared to 43 % globally).

Further reading:

• Family & Friends, The Most Trustworthy Sources For Indians While Shopping Online @ in.nielsen.com
• Social Media And Its Impact On Shopping/Purchase Decisions @ watblog.com