How do consumers generally decide on the amount of time spent searching for information about a product?

Consumers typically determine how much time to invest in searching for information about a product by considering the degree of perceived risk associated with that product. When consumers feel that a purchase involves significant risk—whether financial, safety, social, or related to product performance—they are likely to engage in a more extensive search for information. This is because they want to mitigate potential negative outcomes associated with the purchase. For example, purchasing a car or a home involves a higher level of risk compared to buying a pack of gum.

In such cases, consumers may seek detailed reviews, expert opinions, and comparisons to ensure they make informed decisions that minimize their risk. The level of perceived risk acts as a guiding factor, prompting consumers to allocate more time and effort to gather information to feel confident about their choices.

Other factors such as personal preferences, product popularity, or reviews may influence consumers’ behavior but are not as fundamentally linked to the time invested in the search process as perceived risk. Perceived risk most directly drives the motivation to seek out comprehensive information, as consumers weigh the consequences of their purchasing decisions.