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Nearly half of every pound spent online in 2015 was spent with a retailer that had no shops, new analysis from the Office for National Statistics (ONS) suggests. The ONS study, Shopping in shops that have no ‘shops’ says that in 2008, 5p in every £1 spent with retailers was spent online. By 2015 this had risen to 13p. And when people shopped online in 2015, 49% of spending – or 49p in every pound – went to retailers that had no permanent physical store. This, says the analysis, is “not a blip – it’s actually a growing trend – up from 41p of every £1 spent in shops online in 2010. ”The report suggests while the supermarket was arguably the big retail development of the 20th century, making shopping less personal for many, the 21st century has been about shopping online – a development that some say has made shopping even less personal. It suggests that while 88% of all UK shopping took place in physical stores in 2015, “the British public are not ready quite yet to move to an exclusively online shopping experience.”
More than 90% of shoppers say price is the top reason they buy an item from a different retailer after visiting a store without making a purchase, according to research from Cognizant. As many as 55% of shoppers leave and go to another retailer’s store if they feel the price of an item is too high.
When it comes to retailers that offer the lowest prices, there are still plenty of reasons consumers can be turned off from making a purchase. Almost half (48%) of shoppers say convenience is the top reason they will not shop at the lowest price retailer. Additionally, 32% of these shoppers prefer loyalty programs at other retailers, while 31% will shop at retailers with a better return policy....
Global e-commerce generates more than $1.2 million in revenue every 30 seconds, according to a new report from the Associated Chambers of Commerce of India (ASSOCHAM) and Deloitte.
Further, the study found, social networks are contributing significantly to this revenue. Social media pages provide information regarding new products in the market, user reviews and ratings of the product, recommendations, and increasingly, the ability to buy directly from the site, rather than requiring a visit to a retailer's dedicated e-commerce site.
"Social media also helps e-tailers to build brand awareness by responding to customer queries," said D.S. Rawat, secretary general of ASSOCHAM. "Seasonal sales and offers are displayed in social networks to reach maximum number of people. E-tailers have even started to motivate customers with reward points to provide feedback on the product on social networks. Prospective customers also interact with users of the product or service on social networks before making purchase decision."...
The latest tally, based on more than 1 billion transactions in 3,000 online retail and travel businesses measured by Criteo, shows mobile in the first quarter of this year accounting for more than a third (34%) of all online transactions globally.
In the U.S., 29% of all online sales now are via mobile, led by fashion and luxury, mass merchants and travel.
The mobile share of ecommerce transactions grew 10% in the last three months, according to Criteo, which projects yet another 10% growth in the U.S. by the end of this year. That would put mobile transactions at 33% of U.S. online purchases and 40% globally....
With the vast majority of people owning at least one device thatcan access the internet, today’s consumer is truly connected. Though in the scheme of things smartphones, tablets and e-readers are relatively new inventions, they are devices thatconsumers have rapidly adopted and integrated into their lives.How much time does the UK spend online?...
Apple Pay makes up more than $2 out of $3 spent on purchases using contactless payment across the three major US card networks. I agree with my colleague Sucharita Mulpuru that this is likely a big chunk of a small pie, considering the lower maturity of the mobile contactless ecosystem in the US. It's always better to look for absolute value. In this regard, PayPal processed $46 billion in mobile payment volume in 2014, up 68% over 2013.
Should marketers care about mobile wallets? Yes. Mobile wallets are not just about mobile payments. Consumers want a better shopping experience. Offering faster or more-secure payments is not enough; wallet providers will have to solve real pain points, such as giving consumers the ability to see what’s on stored value cards at any moment in time, access loyalty points, or automatically receive digital copies of payment receipts. In particular, 57% of US online adult smartphone users are interested in having access to loyalty program points and rewards within a mobile wallet. Access to loyalty rewards from brands is the most wanted feature from consumers, and it's the one least integrated in mobile wallets today....
We worked with Shelly Banjo from the Wall Street Journal on a piece about how retailers should use discounts. The Wall Street Journal added a piece of consumer research to accompany the article that was very interesting.
They asked what email headline would get consumers to open an email from a retailer.
Consumers agreed that they are most likely to respond to an email that is advertising a specific (read: relevant) item on sale, not to generic discounts....
Advanced analysis of social media traffic can provide insights into these and many other consumer trends because it measures not only how many people are mentioning a given topic but also how they feel about it. We call that consumer sentiment, and it is a powerful tool for understanding the full story.
For example, SAP analyzed more than 28 million social media posts during this holiday season, which revealed that while consumers mentioned electronics twice as often as the next highest category, they had mixed reviews – sentiment was only 60%. Perhaps poor reviews, sold-out models, and missed deals disappointed shoppers this year....
The main point of the piece is that tablets aren’t exactly the “one-click” wonders we expect them to be. Few, if any customers sit down with a tablet, go right to the product they want and buy it with a single tap. I can hear you rolling your eyes and sighing. . . ‘well, of course not’ but there are mobile apps that let you can buy just that easily – Amazon, eBay, any site that takes Apple Pay...
Here’s what customers do before they hit the “buy” button:
They visit a site 5 times before making the decision to buy
They spend an average of 18 minutes poking around on the site
During an average session, a buyer will click 70 times on a website, looking at different items, checking out options, viewing images, etc.
According to eMarketer’s latest forecasts, worldwide business-to-consumer (B2C) ecommerce sales will increase by 20.1% this year to reach $1.500 trillion. Growth will come primarily from the rapidly expanding online and mobile user bases in emerging markets, increases in mcommerce sales, advancing shipping and payment options, and the push into new international markets by major brands.
In 2014, for the first time, consumers in Asia-Pacific will spend more on ecommerce purchases than those in North America, making it the largest regional ecommerce market in the world. This year alone, B2C ecommerce sales are expected to reach $525.2 billion in the region, compared with $482.6 billion in North America....
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Findings from the 2015 Pitney Bowes Global Online Shopping Study released today confirm that search engines like Yahoo, Google and Bing remain top choices for consumers to find products online. Furthermore, marketplaces such as eBay and Amazon along with retailers remain dominant for today’s consumer transactions, according to a press release.
The study found that 33 percent of millennials use mobile devices or a mix of devices, compared to 24 percent of overall consumers in the study.
The research further reveals that online shoppers globally share commonalities in discovery and purchase of products but they maintain “unique global shopping preferences and behaviors that vary by country.” Retailers looking to expand their brands globally “should consider cultural norms and shopping preferences of consumers around the world.”...
In this article, I’m going to show you how you can use the power of psychology, to become an outlier when it comes to cart abandonment statistics.
Once you know how to fix your website’s checkout issues, you will be able to massively improve the amount of online revenue your business generates.
Let’s take a look at what can be done....
Most consumers (85%) globally say that they have used their smartphone in-store, according to the DigitasLBi Connected Commerce study.
This is an increase from 72% just a year ago.
And it’s not only using a smartphone in a store but the rather the impact it’s having.
The majority (55%) of smartphone users say the Internet and smartphones have changed the way they shop in a store.
Perhaps more significantly, 77% of Internet users have been influenced by mobile during the purchase process....
From end-cap displays to in-store signage, Shopper Marketing concentrates on capturing consumers at point of purchase, looking for ways to entice them as they stand in store aisles. But today, according to research from Influence Central, online reviews have transformed how consumers shop – arming them with authentic, credible insights that shape their purchasing decisions, both while in-store and well before they head out to the mall.
Below, Influence Central delivers in their own words the top three surprising ways online reviews have transformed traditional Shopper Marketing:
By analyzing returns data, retailers can better understand consumers’ preferences and behaviors. Additionally, this data can help organizations survey their internal supply chain and warehousing proficiencies.
However, there is still plenty of work to be done as retailers strive to minimize return rates and maximize customer satisfaction, according to research from Voxware.
More than half (57%) of consumers are returning items they ordered online or by phone due to retailer error. While 42% noted that the product’s size or color was incorrect, another 15% said they received the wrong product altogether....
In a world where the importance of mobile optimization is being increasingly vocalized, brands are still experiencing a low number of online sales and conversions through mobile products. A new study from Opera Software, however, aimed to better explain the shopping behaviors of consumers while browsing and buying through mobile and desktop devices.
Opera Software’s report compared traffic and conversions through different platforms for each day of the week, and their research produced a few interesting discoveries. First off, while the holidays are always thought of as the most popular time of the year to shop online, Opera found that June was the month which experienced the highest global volume of traffic to mobile shopping sites. On a weekly basis, it appears that mobile traffic to ecommerce sites spikes on Sundays, while desktop traffic is highest on Mondays.
Overall, shopping traffic tends to be more consistent and strong on weekdays; however, Friday experiences the lowest number of mobile visits. The company explains this phenomenon with a notion that shoppers tend to research and browse on their mobile devices on weekends, but add the the actual purchasing of the item to do their to do lists during the week....
As shopping shifts to the web and mobile, retailers need to be increasingly mindful of the different e-commerce channels and how their services and sites stack up against those of competitors, and the industry at large.
A few key performance indicators, or KPIs, allow retailers to benchmark themselves in specific areas of online commerce. Identifying the right areas for improvement can help businesses adjust and capture a larger share of the e-commerce and retail market.
To understand how the best sell on social and earn a positive ROI on their social investment, we researched 100 of the top social selling e-commerce brands on Facebook, Twitter, and Pinterest. For two weeks, we recorded each of their posts across six dimensions: 1. type (video, image, or text), 2. purpose (promote product or brand building), 3. copy, 4. whether it was linked, 5. whether it was original or user-generated content (including retweets and repins), and 6. posting time.
We then compiled this data and analyzed it for patterns. Here’s what we found to be the best practices for social posting that drives sales
We all love a bit of online shopping but what goes through our head before we click to buy items over the web?
We have done some research in the form of an infographic, which reveals some fascinating insights into the psychology of the online consumer.
A massive 85% of people said they read online reviews before making a purchase and 1/3 of shoppers admitted buying an item after being influenced by a video. The research also looks into why we abandon sales at the checkout, which is predominantly down to hidden charges and having to register before buying.
Check out our infographic below for the full insight into the mind of the online shopper....
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Looking at how we shop online in this UK research.