reported that 80% of U.S. consumers use social media to verify purchase
recommendations and that 77% of customers look for incentives and coupons on social
media sites. In another study, Verdict Research (2009) revealed that 51% of consumers
use the Internet before making any purchases in brick-and-mortar shops, educating
themselves on the best deals available. In the banking and financial sector, this number is
even higher. Kelton Research (2011) also found that 83% of consumers think that it
would be important to read user-generated content before making a decision about
banking or other financial services.