Jump to Search FieldJump to Content
The page layout has been optimized for printing.

Krillion: Media Coverage, Press Releases and Events

Latest Press Release

New Survey Finds 67 Percent of Shoppers Invest 30+ Percent of Their Total Shopping Time Researching What To Buy

Some shoppers spend months investigating what to buy, consulting multiple online sources, and are more likely to specify local in-store pick-up when buying complex products online

Mountain View, CAMarch 24, 2008 – A new study of the online shopping behavior of 1,000 consumers, released today by Krillion and the e-tailing group, reveals that today’s experienced Web shoppers spend a substantial proportion of their total shopping time scouring the Web for product information, buying guides, opinions and reviews of the products they wish to buy. As the complexity of a product increases, consumers are more likely to conduct research both online and offline, and then complete their purchase offline at a local store. A key implication of the research is that manufacturers and e-tailers must be poised for a confident, ready buyer who has conducted extensive research and could buy through any channel, at any moment.

The research shows that the majority (67 percent) of today’s Web-savvy shoppers spend more than 30 percent of their total shopping time researching products on the Web. Some people, dubbed 'Web-informed buyers' by the researchers, spend more than 50 percent of their shopping time researching online and have developed sophisticated behaviors and requirements as they use the websites of manufacturers and e-tailers to determine what to buy and where to buy it.

When they are considering purchasing complicated and information-intensive products such as computers, kitchen appliances and consumer electronics products, Web-savvy shoppers consult a wide variety of online resources in a research phase that can begin days, weeks or even months before the actual purchase.

The study also revealed that expectations are high for today’s online shoppers regarding the number of information sources they seek out and the features they expect to find on the sites they visit, such as cross-channel purchasing options and real-time inventory information. These consumers make a substantial investment of their time in the hope of finding the best price for an in-stock product. Many of them have embraced the concept of buying items online for in-store pick-up: 55 percent of the shoppers surveyed have purchased a product this way, while for sophisticated, Web-informed buyers this number is 60 percent.

“The study highlights the fact that consumers are actively gathering detailed product information, insight from other shoppers, and third-party validation from multiple sources – regardless of where they end up consummating the final purchase,” said Sherry Thomas-Zon, vice president of marketing at Krillion, the company that commissioned the study. “This means retailers must be poised for a confident, ready buyer who has done his or her homework and could buy through any channel, at any moment.”

When shopping for complicated and information-intensive products, manufacturers’ websites are ranked as the most essential destination for 72 percent of the 1,000 shoppers surveyed, followed by online stores operated by retailers (54 percent) and comparison shopping engines (50 percent).

“Manufacturer websites are clearly critical links in the information gathering process,” said Lauren Freedman, president of the e-tailing group. “This survey underscores their influence as ultimate information resources for sophisticated shoppers, and accordingly we urge manufacturers to strengthen their online knowledge bases and enhance the content they share with their retail and search engine partners.”

About the “Krillion/e-tailing group Web/Store Cross-Channel Shopping Survey”

Krillion commissioned the e-tailing group to conduct a survey for the purpose of better understanding the impact of online information on consumer buying behavior across various channels. In February 2008 a panel of 1,000 consumers who spend at least $500 online annually and who shop via the Internet at least four times per year completed an online questionnaire. The major findings can be downloaded here: Krillion/e-tailing group Survey Results.

About the e-tailing group

The e-tailing group inc. serves as the multi-channel merchant’s eye, bringing a merchant’s sensibility to evolving the multi-channel shopping experience. A Chicago-based consultancy, it provides practical strategic perspectives and actionable merchandising solutions to merchants selling online as well as to enabling technology firms. For more background about this research study or additional information about the e-tailing group, please contact Lauren Freedman at lf@e-tailing.com or visit the e-tailing group website www.e-tailing.com.

About Krillion

Krillion is a premier provider of local shopping search information, serving today’s ready-to-buy consumers who research products online for purchase from retailers in their area. Krillion’s mission is to transform the way consumers find and buy national brands by simplifying the Web-to-store purchase process and delivering accurate and timely comparison information on products, retailers, and stock availability through Krillion search results and partner sites. The powerful combination of our patent-pending Krillion Localization Engine, localized search results covering over 10,000 products in 40,000 U.S. locations, and unique, real-time StockCheck™ tool enables consumers to speed their research-to-purchase process and take advantage of in-store pickup services offered by many retailers near them. Through partnerships with manufacturers, publishers and retailers, Krillion is extending its service to become the leading provider of aggregated product, retail location, and availability information on the Web today. Krillion was founded in February 2006 and is funded by Hummer Winblad Venture Partners. Visit www.krillion.com to find the product you want to buy, near you, right now.

Krillion™ and Krillion Localization Engine™ and Krillion StockCheck™ are trademarks of Krillion, Inc. All other product names and trademarks are the property of their respective owners.

Contacts:

Krillion:
   Tim Cox | ZingPR tim@zingpr.com 650-369-7784

Archived Press Releases



Media Coverage

  • March 27, 2008 – Wall Street Journal Blogs

    Technology Forces Businesses to Open Up

    His company, Krillion, makes technology that helps consumers answer the question, “Who carries this product near me and is it in stock? ...

  • March 27, 2008 – eMarketer

    Cross-Channel Buyers Prize Product Info

    In February, Krillion and the e-tailing group found that two-thirds of online buyers spent more than 30% of their total shopping time researching products ...

  • March 24, 2008 – Inc.com

    Web Shoppers Pickier

    Online shoppers spend more time researching products before buying them, according to a joint survey by Krillion, a Mountain View, Calif. ...

  • March 6, 2008 – BizReport

    Krillion allows users to search locally for products

    “Many studies have shown that a detriment to online shopping is that some consumers don't want to wait for delivery. Many stores are now offering local pick-up. Krillion.com is taking that one step further and allowing consumers to search online for local product locations.”

  • March 4, 2008 – Guidewire Group

    Krillion: A Smarter Way to Shop

    “ The amount of data needed, not to mention the constant need for updating, proved too onerous in the end for even a giant such as Google. So how is Krillion doing it? Brilliantly.”

    …Krillion is in a sweet spot – a market hungry for a leader and lacking in competition, super-smart industry veterans at the helm, and a product that masterfully handles large amounts of unwieldy data. We don’t see much standing in its way.”

  • March 2, 2008 – Screenwerk

    The Find Taps Krillion for Local Product Data

    “For some time I’ve believed that “local product inventory” data providers would begin to syndicate their data... And when that started it would become a competitive requirement for all shopping sites … Well, it’s started to happen. Krillion  has now shifted somewhat and is becoming a data provider to third parties. ”

  • October 1, 2007 – Search Engine Land

    Krillion Launches 'Stock Check' Inventory Info for Local Product Search

    Product search engine Krillion has launched a feature, called "Stock Check," that enables consumers to see if products (starting with TVs) are in stores locally, buy them online and pick them up at a range of major US retail chains, …The new feature, announced today at SMX Local & Mobile, is true real-time inventory information.

  • October 1, 2007 – Screenwerk

    Krillion Now Provides Real-Time Inventory for TVs

    Today the site is introducing what its calling “stock check,” which shows whether products are actually in the store. Starting with TVs, but eventually expanding to other categories.

  • October 1, 2007 – Kelsey Group

    Krillion Adds Inventory Data

    Krillion announced today that it will launch a new feature that includes inventory data for its top retailers… With StockCheck, Krillion will jump on this opportunity – driven partly by the demand to avoid shipping costs – while having the additional appeal of being a one-stop shop for lots of retailers.

  • October 1, 2007 – Mashable

    Krillion's StockCheck Offers Real-Time Search Data

    The data for inventory is real-time, so this should make it much easier for users to find the best store with the best prices and product availability. …The addition of StockCheck goes along with the other search result data you’ll get with Krillion, like price points for individual store locations, contact information, directions, reviews, and more.

  • July 23, 2007 – Startup Squad

    Now search for that 50" LCD TV at Krillion

     “Krillion is the place to search for things you can buy “only” locally …items like Fridge, Washer dryer, and now TVs, which obviously most of us are not going to buy online. Being able to know the availability and pricing of the appliance at to the store nearest to your location is a fundamental problem that most of the comparison shopping engines don’t solve.

  • July 23, 2007 – Mashable

    Krillion Adds TVs to its Local Product Search Engine

    “As a helpful research tool, Krillion caters to the ready-to-buy consumer, and this is great for retailers looking to get more people into their stores.”

  • July 23, 2007 – Search Engine Land

    Local Shopping Site Krillion Expands Inventory

    “..Toledano has an interesting spin on what his site is doing: solving the "last mile problem" for manufacturers and retailers. In other words, Krillion seeks to show where, in the local area, someone can purchase a specific home appliance (and now TVs).”

  • July 23, 2007 – The Kelsey Group

    Krillion Brings Hi-Def to Local Search

    “...We’re generally bullish on Krillion and its SEO driven strategy (explored in past posts). The company’s efforts are also consistent with data from TKGs annual Local Search and Directories Forecast which points to increasing investments and considerations around SEO strategies.”

  • July 13, 2007 – The Local Onliner

    Krillion Localizes E-Commerce with SEO

    “...[Krillion] is unique in its emphasis on SEOing major chains for local search – much akin as TripAdvisor is for travel. It is about as far from a “destination” site as you can get – although social features are being developed that might change that.”

  • March 5, 2007 – New York Times

    A Richer Trip to the Mall, Guided by Text Messages

    “...Krillion pulls data from the Web pages of appliance retailers and manufacturers, and integrates it with geographical data of its own, to build 275 million product-specific Web pages. …The Internet, which was going to enable any business to sell to anyone in the world,” he said, “ultimately may be used mostly to do the opposite – provide consumers with information on where to buy locally..”

  • February 12, 2007 – Ad Week

    Krillion Thinks Global, Searches Local

    “To connect retailers and manufacturers with local shoppers, tech startup Krillion has unveiled a search engine that trolls the Web for regional and national product intelligence and points consumers to nearby stores where those items can be purchased.”

  • February 8, 2007 – Entrepreneur Watch

    Competing with Google: Krillion – Searching online, buying offline

    “…it is possible to find a good niche that Google has yet to fill. A startup company called Krillion has come up with one of the best ideas for a specialized search engine I’ve seen in a long time: It helps you find a retailer near you that carries just the product you want to buy.”

  • February 6, 2007 – The Local Onliner

    Krillion's Local Search Engine Finds Refrigerators

    “The highly attractive, ad-supported service is kicking off with a dedicated appliance search. The next wave of localized searches will include seasonal appliances, consumer electronics, and lawn & garden.”

  • February 5, 2007 – Search Engine Watch

    Krillion Joins the Online Shopping Space.

    “One of Krillion's silver bullets will be its proprietary crawling technology that brings in raw product data, combined with its integration of this data into a series of search results pages that correspond to the many combinations of specific products, brands, categories and 40,000 US local areas.”

  • February 5, 2007 – VentureBeat

    Krillion – a local shopping search engine

    “…it does the job it says it does. It is better [than] other search engines, which don’t offer such detailed local information…”

  • February 5, 2007 – StartupSquad

    Krillion launches: big-tag local search perfected

    “I had been eagerly waiting for Krillion’s launch…for the past few months. Well, the wait is over! Krillion looks promising to me, especially when it is operating in a category that hasn’t received Google’s attention.”

  • February 5, 2007 – Search Engine Land

    Krillion Launches 'Actionable Local Search'

    “Simply put, Krillion helps consumers find where they can buy products in their markets after conducting online research. It's based on "from the ground up" search/crawling technology and has been in development for a year.”

 
Krillion, Inc. © 2006 - 2008