What Are The Consumer Shopping Trends Shaping Retail?

What Are The Consumer Shopping Trends Shaping Retail?

Consumers shop today across channels, both online and in brick-and-mortar locations.  They price check from their phones, add items to their online carts only to head into a physical store to make a final purchase and shop from tablets, phones, laptops, social channels, and physical store locations. While e-commerce is growing at staggering speeds, the importance of brick-and-mortar retail shouldn’t be ignored.

With so many changes in the world of retail and the ways consumers shop, here are 34 consumer shopping trends that are shaping retail:  

  1. More than half (54%) of retailers said the customer experience is their most important area of focus, way ahead of cross-channel marketing (16%), data-driven marketing (14%), mobile (11%), and programmatic buying/optimization (4%). (Adobe)
  2. When asked about the extent to which digital permeates their marketing activities, 13% of retailers described themselves as “digital-first.” The majority are still primarily led by brick-and-mortar operations and traditional marketing activities. (Adobe)
  3. One-third (33%) of retailers cited “targeting and personalization” among their top three tactical priorities for the year ahead, higher than for any other marketing tactic. (Adobe)
  4. 51% of Americans prefer to shop online and 96% of Americans have made an online purchase in their life. (Big Commerce)
  5.  73% of consumers are more likely to purchase a product or service if they can watch a video explaining it beforehand. (Animoto)
  6. 42% of online shoppers want more testimonials from ecommerce sites. (Big Commerce)
  7. 75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, OR knows their purchase history. (Accenture)
  8. 63% of consumers said they’d think more positively of a brand if it gave them content that was more valuable, interesting or relevant. (Rapt Media)
  9. 53% of buyers say Facebook informs their purchase decisions. (VWO)
  10. 42% of online customers find recommendations from friends and family influential. (Big Commerce)
  11. 74% shoppers are unlikely to share a product on social network after purchase. (VWO)
  12. Over 60% of consumers take the time to review a return policy before making a buying decision. (ReadyCloud)
  13. Email marketing accounts for 20 percent of traffic driving ecommerce sales. (Wolfgang Digital)
  14. 23% is the online shopping cart abandonment rate on average. (Baymard Institute)
  15. The top reason for cart abandonment is extra high costs (61%). (Baymard Institute)
  16. Mobile sessions account for 59 percent of all sessions on ecommerce sites. (Smart Insights)
  17. Offering free delivery encourages 9 out of 10 users to purchase. (Walker Sands Communication)
  18. 49% cite not being able to touch, feel or try a product as one of their least favorite aspects of online shopping. (Big Commerce)
  19. 21% of Americans state that unattractive or hard-to-navigate websites is frustrating when buying online. Big Commerce)
  20. Google says 61% of users are unlikely to return to a mobile site they had trouble accessing and 40% visit a competitor’s site instead. (MicKinsey & Company)
  21. Tablets account for the highest add-to-cart rates on eCommerce websites at 8.58%. (Smart Insights)
  22. 88% of consumers who search for a type of local business on a mobile device call or go to that business within 24 hours. (Nectafy)
  23. Mobile offers are redeemed 10x more frequently than print offers. (eMarketer)
  24. The top three traffic sources driving sales for eCommerce are organic (22%), email (20%) and CPC (19%), with display and social accounting for just 1% and 2% respectively. (SocialMedia Today)
  25. 52 percent of consumers cited at least one offline channel as a source of initial awareness before a purchase, and 59 percent cited one or more online channels. (KPMG)
  26. After websites, shops or online advertising, the most common sources of product awareness were online reviews (cited by 15 percent), talking with friends (15 percent), social media (13 percent) or seeing a friend with it (12 percent). (KPMG)
  27. The top reason consumers shop online is the ability to shop 24/7 (KPMG)
  28. The top reason consumers prefer to shop instore versus online is to see, feel and experience the product in person. (KPMG)
  29. Having the most competitive price won’t guarantee a sale. Although price was cited by 57 percent of consumers as a top factor in deciding which website to buy from, the next key attributes were enhanced delivery options and easy return policies. (KPMG)
  30. Millennials have a much higher demand for instant gratification than older generations. Although younger consumers are increasingly comfortable with buying products online without seeing them first, they are almost twice as likely to say they’d rather visit shops to get their product right away, rather than buy online and await delivery. (KPMG)
  31. The top trait that drives customer loyalty for online consumers is an exceptional customer experience. (KPMG)
  32. Parents spend more of their budget online in comparison to non-parents (40% vs. 34%) and spend 75% more time online shopping each week (7 hours vs. 4 hours for non-parents). Parents spend 61% more online than non-parents ($1,071 vs. $664). (Big Commerce)
  33. 29% of online shoppers would be likely to follow a brand on Facebook; 21% of online shoppers would be likely to follow a brand on Pinterest; 21% of online shoppers would be likely to follow a brand on Instagram; 18% of online shoppers would be likely to follow a brand on Twitter; and 13% of online shoppers would be likely to follow a brand on Snapchat. (Big Commerce)
  34. 64% consumers want personalized offers from retail brands. (Salesforce)

Original article sourced from V12 Data

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