Key ecommerce trends
The ecommerce landscape
When looking at the changes in ecommerce, it is impossible not to mention Covid-19. It’s clear the pandemic has made its mark on online sales. Data from IMRG shows that online sales in 2020 grew by 37%. This increase is not surprising as Covid-19 lockdowns temporarily closed non-essential shops, leaving consumers with no other choice than to do their shopping online.
The pandemic’s effect on online consumer behavior
Necessity is the mother of invention, as we saw consumers who were not used to shopping online becoming familiar with it during the pandemic. A survey by Magento shows that 55% of consumers now shop online more frequently than they did prior to the pandemic, and for frequent online shoppers, this figure rises to 65%.
The experienced and aware online consumer
This increase in online shopping has made customers more experienced, more quality conscious and more selective about which brands they shop with. Things like proper product descriptions, easy-to-find prices and high-quality product images are highly valued. In the online checkout, offering the right delivery options is crucial, as 50% of online consumers abandon a checkout due to a lack of delivery options. If online shops want to stay competitive, they have no option but to improve their fulfillment capabilities and offer consumers the fast, free and sustainable delivery options they want.
Sustainability is a key factor, as 50% consumers now say they are willing to pay more for “environmentally friendly” products or services. These stricter demands from consumers are unlikely to change post pandemic, as many will keep their new online shopping habits, or be wary of shopping in physical stores.
Of consumers now shop online more frequently than before the pandemic.
Of frequent online shoppers purchase more online than before the pandemic.
Of online consumers abandon a checkout due to a lack of delivery options.
“Our customer satisfaction surveys show that 80-90% of the customer experience depends on
the delivery. The two most important factors for a successful delivery are transparency and
timely delivery. We must not be unclear on that.”
Kasper Kristensen, Customer Experience Manager at Bilka.dk