We recently asked a panel of retail and brand executives and industry experts to identify what’s top of mind for consumers when it comes to online shopping. Here’s a sneak peek at what they said.
- The cost of living crisis – economic difficulties and concerns are impacting consumer spending.
- Price sensitivity – shoppers are more concerned about the cost of goods and services, driving them to spend more time finding good value and discounts.
- Better shopping experiences – consumers have higher expectations for online shopping experiences that are uber convenient, frictionless and personalised.
- Sustainability – more and more consumers show willingness to spend more on sustainable and responsibly-made products.
So how do these overall trends translate to eCommerce? Overall, price, ease of navigation, delivery options and easy returns top the list of the most important factors for consumers when shopping online.
Top factors for consumers when shopping online
While discounting and value shopping are even more popular during challenging economic times, a recent study revealed that 60 percent of shoppers are willing to pay a premium for personalised and relevant shopping experiences. In addition to price, our panel shared that their customers value differentiated shopping experiences that offer easy navigation, helpful discovery tools and relevant content that inspire and help them make the right purchase decisions, as well as convenient and easy delivery and return options.
By leveraging social proof messaging throughout the shopping experience, retailers and brands can highlight relevant product features, showcase best-selling products and alert shoppers to products that are selling fast – ultimately helping them discover products and make more informed buying decisions.
While social proof messaging doesn’t make returns any easier, it can help reduce return rates. Combined with customer ratings and reviews, social proof messaging brings critical product information such as a size and fit upfront, helping shoppers make the right purchase decisions in the first place. And injecting social proof in post purchase messaging will help to reinforce purchase decisions, reducing the likelihood of buyer’s remorse.
A retailer’s work is never done
When asked if they are currently meeting customer expectations for online shopping, a little over half of our panel said no. The other half stated that although they think they are meeting customer expectations, they are constantly pushing themselves to do better, especially in areas such as data and personalisation, product discovery, online conversions and social commerce.
Are you meeting (or exceeding) customer expectations?
As we all know, consumer preferences constantly change – especially in today’s supercharged digital world and volatile economic climate – so it is only smart that retailers and brands constantly strive to do better. To do so requires an agile approach and investment in technology that constantly innovates and supports continuous improvement and optimisation. Tools like social proof messaging will deliver immediate results and the return on “quick wins” can be used to further optimise and to focus on longer term initiatives to elevate the customer experience.
Download our new study: Accelerating Growth: Navigating eCommerce & CX Challenges, to get more key insights about technology priorities, CX opportunities and consumer trends.
