Over half of Internet users in the US access financial accounts online, while 37% use the Web to conduct banking transactions, according to a survey by The Dieringer Research Group.
The survey of 3000 US adults found that three out of five go online regularly, and the majority of Americans now use the Web for shopping.
The study found that the Internet is increasingly being used by consumers to research products. During the past year, 114.1 million adults used the Internet to search for product information and 98.9 million adults made actual purchases - either online or offline - after doing online research.
Furthermore, in four key financial categories - banking, lending, credit cards and insurance products - 53% of respondents reported that their brand opinions changed due to online information.
Thomas Miller, senior consultant at The Dieringer Research Group, says online shopping has been established for some time but new consumer confidence in the medium is revealed in the increased use of online information to make personal finance product choices, manage accounts and pay bills.
According to the survey findings three out of five shoppers who researched products online before purchasing say they changed brands in ten product categories as a result. This represents a 20% increase in shoppers whose brand opinions changed online compared to 2003.