study of Indian online consumers & their buying behaviour(vikas)
The State of Omni-Channel Retail: How U.S. Consumers Are Buying Online in 2016
-
Upload
bigcommerce -
Category
Data & Analytics
-
view
459 -
download
0
Transcript of The State of Omni-Channel Retail: How U.S. Consumers Are Buying Online in 2016
How U.S. Consumers Are Buying Online in 2016 Based on data from more than 1,000 American shoppers
A quick overview
What you’ll learn in this presentation:
• Who shops online• Where Americans spend online• What Americans are buying• What influences the American shopper to purchase• How Americans feel about online shopping• How important Americans rank online shopping
Get more data: www.BigCommerce.com/blog/omni-channel-retail
The biggest opportunity is online
Online shopping is pervasive
96%have purchased
online at some point
80%have done so in the past month
Online is now the preferred way to buy
Which is the best way to shop?
51%online
49%in store
Online purchasers spend a lot of time shopping online
5 hours per week, on average
Parent spend more time shopping online than those without children (7 v. 4 hours/week)
Many Americans can’t live without online shopping
Which of the following could you not live without?
Online shopping
Smartphone GPS
Streaming TV
Streaming music
Food delivery services
Wearable fitness trackers
Car hailing apps
Dating apps
40%
34%
29%
21%
8%
7%
5%
5%
And yet: Significantly more budget is spent in store
36%Online
64%In-store
Takeaways
Online shopping is now essential to American life
If you have a successful brick and mortar retail business, extend it with an online shop
Consider targeting shoppers who spend the most time online, like parents
Get more data: www.BigCommerce.com/blog/omni-channel-retail
Where people shop online
Marketplaces are the most frequent starting point for product discovery48% of purchasers first shop at mass marketplaces like Amazon, eBay
But big brand sites are the most common destinations for purchases
On which types of online retail sites have you shopped?
Large online/offline
brand name retailer
Mass ecommerce
marketplace
Small/specialty online
retail brands
Category-specific
online retailer
74%
54%
44%
36%
Mass marketplace buyers:Highest spenders, careful purchasers
Average yearly spend: $488
More likely to research brands before purchasing
More likely to take time to find the right deal
Where else are they shopping?
Large online/offline
brand name retailer
Small/specialty online
retail brands
Category-specific
online retailer
71%
49%
48%
Big brand buyers: High spenders, high loyalty
Mass ecommerce
marketplace
Small/specialty online
retail brands
Category-specific
online retailer
52%
47%
40%
Average yearly spend: $409
Least likely to research alternative brands
Where else are they shopping?
Small/specialty shop buyers: Lowest spenders, less loyal
Large online/offline
brand name retailer
Mass ecommerce
marketplace
Category-specific
online retailer
80%
61%
56%
Average yearly spend: $182
More likely to state that they enjoy shopping
Where else are they shopping?
Category-specific buyers: Loyal to brands, not retailer types
Large online/offline
brand name retailer
Mass ecommerce
marketplace
Small/specialty online
retail brands
83%
72%
68%
Average yearly spend: $259
More likely to stick to certain brands
More hesitant to make large purchases
Where else are they shopping?
Takeaways
On average, Americans visit at least 2 of the 4 shopping destinations
Sell across multiple platforms, experiment to find the mix that works best for you
Use a platform that enables multi-channel selling
Get more data: www.BigCommerce.com/blog/omni-channel-retail
What sells where?
Mass marketplaces
44%Books, movies
and music
43%Clothing, shoes and accessories
34%Computers and
electronics
29%Health and beauty
products
Big brands
47%Clothing, shoes and accessories
32%Computers and
electronics
28%Books, movies
and music
24%Health and beauty
products
Small/specialty shops
27%Clothing, shoes and accessories
18%Health and
beauty products
15%Books, movies
and music
15%Flowers and
gifts
Category-specific stores
30%Clothing, shoes and accessories
21%Books, movies
and music
19%Computers and
electronics
19%Flowers and
gifts
Takeaways
Know which products will sell best on each channel you use
Apparel/accesories are the most-purchased items with big brands, category-specific and small/specialty retailers
Books, movies and music top the list for marketplaces
Computers and electronics do well on marketplaces, big brands and category-specific retailers
Health and beauty products are big sellers for mass marketplaces, big brands and small/specialty retailers
Get more data: www.BigCommerce.com/blog/omni-channel-retail
The rise of social commerce
30% of shoppers are willing to buy on social media
20%Facebook
Likelihood for purchasing by network:
17%Pinterest
14%Instagram
12%Twitter
10%Snapchat
Followers are potential customers
21%Featured in a brand’s
Facebook post
Survey respondents stated their likelihood of purchasing a product:
18%From a brand’s Pinterest board
16%Featured in a brand’s
Instagram post
14%A brand has
tweeted about
12%In a brand’s
Snapchat
Takeaways
Social media has a huge influence on sales
Enable social sharing and feature products on your social channels
Grow your pool of followers to expand your potential customers
Social selling can’t be ignored — it’s only going to grow in popularity
BigCommerce enables selling on Facebook and Pinterest, with more channels coming soon
Get more data: www.BigCommerce.com/blog/omni-channel-retail
The perils of online shopping
Buyer’s remorse
42%of online shoppers
have made a purchase they regret
51%Millennials are
even more likely to have regret
Oops purchases
21%of shoppers accidentally bought something they
didn’t want
Overspending
48%of shoppers have spent more than
they intended
Drinking and shopping
10% of shoppers admit to making a purchase after drinking alcohol
Men, younger generations and parents are more likely to drink and shop
Online shopping never sleeps(or takes a restroom break)
43%Bed Office
23%
Shoppers have made online purchases from:
Bathroom
20%Car
20%Vacation
destination
16%
Takeaways
The convenience of online shopping means missteps are bound to happen
Offer a strong return policy to foster goodwill and loyalty
Consumers buy everywhere — make sure you offer a good mobile experience
Get more data: www.BigCommerce.com/blog/omni-channel-retail
What influences a purchase?
The top 3 purchase influencers
87%Price
80%Shipping cost
and speed
71%Discount
offers
The aversion to shipping costs
58% of shoppers cite paying for shipping as their least favorite part of online shopping
66% have decided not to buy an item due to shipping costs
The pain of payment
19% of shoppers say entering payment information is their least favorite part of online shopping
The power of word of mouth
42%are influenced by
recommendations from family/friends
23%are influenced by
social media recommendations
The importance of good design21% of shoppers say poorly designed sites are their least favorite part of online shopping
49% cite not being able to touch or try a product as their least favorite part
TakeawaysDo your research to make sure your prices are competitive
Offer free or discounted shipping and fast, reliable shipping options
Figure out how to offer discounts that don’t hurt your bottom line
Offer great customer service, return policies and social sharing to bolster word of mouth
Invest in good design that makes it easy to navigate your site
Offer images, reviews, comparisons and videos to help shoppers make decisions
Streamline your payment process
Get more data: www.BigCommerce.com/blog/omni-channel-retail
Read the full reportWhat brands need to know about omni-channel retail and modern consumer shopping habits:
• Who shops online
• Where Americans spend online
• When Americans spend online
• What Americans are buying
• What influences the American shopper to purchase
• How Americans feel about shopping
• How important is online shopping?
• What this means for U.S. retailers
Even More: 128 Stats Revealing How Modern Consumers Shop
Get the raw statistics and insights from the Kelton Global study of 1,000 American shoppers:
• Online shopping
• Spending and conversion
• Buying frequency
• Consumer location at time of purchase
• Types of online goods purchased
• Influencing factors on conversion
• Online shopping in society
• Shopper characteristics by channel
Infographic: The Driving Factors Behind Modern Consumer Behavior in the New Omni-Channel World Grab the code to embed this image on your site, and head to BigCommerce.com/blog for more industry insights and trends.