Can Web 2.0 Help Retailers Win A Price War?

[mandy]

Retailers are getting absolutely hammered on price, and it's mainly because of the transparency of the Web. In response to increased competition on price, many are cutting prices even further. While there seems to be a fear among online retailers around social networking and Web 2.0, most want to know how to leverage some of the new tools and technologies in their marketing plans...

Posting expert product reviews is beneficial, but offering customer reviews is even more powerful as a marketing tool. In fact, a survey of over 10,000 online visitors to the top 40 online retailers during the 2006 holiday shopping season found that almost half of those who recalled seeing customer product reviews cited them as the primary factor in their decision to purchase...

A plethora of new technologies can turn your brand-oriented, message-focused Web site into a vibrant community of engaged consumers. Blogs, which deliver a new dimension and insight into a brand's messages, seem to be underutilized by retailers...

full article: http://www.ecommercetimes.com/story/neUz...Wars.xhtml