Smarter Shopping in an Age Of Product Recalls and Price Wars

New Research Shows Consumers Dig Deeper to Get More Product Information Than Ever Before Today, consumers are being increasingly careful about what they buy: recent product recalls are raising safety concerns, food warnings are becoming more common, and product manufacturers are under more scrutiny than ever before. With so many companies trying to sell us so many new products, how can consumers ensure they steer clear of danger and get the most for their money when out shopping this year? According to consumer expert Pat Conroy, the key is taking charge of the information that is all around us on the Internet from our friends or even on our mobile phones. Technology has given consumers an enhanced ability to peek behind the curtain for more information about companies and products and, increasingly, to research sourcing, ingredients, other consumers experiences with the product, and more. For example, a recent survey by Deloitte shows that almost two-thirds (62 percent) of consumers now read consumer-written product reviews on the Internet. And a whopping 98% of them consider these reviews to be credible. And, consumers are not keeping this information to themselves. Seven in 10 (69 percent) consumers who read online product reviews also share them with friends, family or colleagues, thus amplifying their impact. In this interview Conroy will reveal: o how consumers have reacted to the spate of recent recalls from China o how consumers are behaving when it comes time to comparison shop o ways in which consumers can go about investigating products prior to purchase For example, many consumers have expressed that they want the ability to comparison shop via cell phones. Almost two-thirds of cell phone users would like to be able to scan a products barcode in a store and then receive other retailers prices for the same product. Such technology exists today and is beginning to be used a trend that will undoubtedly continue. About the Talent: Pat Conroy is Vice Chairman and U.S. Consumer Products Leader at Deloitte & Touche USA LLP, a national practice that provides consulting services to consumer product manufacturers. Conroy has more than 20 years of experience leading both domestic and international consulting engagements within the consumer products industry. He has been a long time advisor to many of the consumer product industrys leading CEOs and senior executives. Key clients have included widely recognizable household names.