Most consumers use online marketplaces to find products, but the number who are browsing in-store or on social media is growing. Retailer websites are where customers go for product research. And when it comes to purchasing, price and delivery options are the most important factors.
Here are five charts on consumer behavior across the customer journey.
While marketplaces like Amazon or Mercado Libre remain the most popular search channels for shoppers worldwide, their share is decreasing, per Wunderman Thompson. Meanwhile, the number of people worldwide who browse in-store is rising.
In the US, Amazon is also losing search share as consumers increasingly turn to social media platforms like YouTube, Facebook, Instagram, and TikTok, per Jungle Scout.
As search behaviors change, marketers should diversify their search strategies and ensure consumers are able to find them across digital, social, and physical channels.
Over half of adults in the US and the UK prefer to research and purchase online products on a retailer’s website, per Coveo. Researching online and purchasing in-store is the next-most popular shopping method, followed by considering and purchasing items solely in-store.
Less than one-fifth (16%) of consumers see items in-store and then buy via social media, suggesting if brands would like to encourage social commerce adoption, they need to find a way to close the loop completely through digital channels.
A better price and free delivery are the top two ways brands worldwide can encourage consumers to buy directly from them, per Wunderman Thompson. Bundled product deals and personalized deals are less effective.
While it can be difficult to compete on price as operational costs soar and margins shrink, retailers should think about how they can differentiate using things like fast delivery and free returns to bring in new customers.
Personalization can be helpful in bringing your customers back, per Twilio.
Brands should consider the most compelling ways to use personalization to drive repeat purchases. Consumers are likely not going to be in the market for the same item right away, so messaging should encourage discovery of new (but possibly similar) items and potentially have a financial incentive for customers to make another purchase.
Eighty percent of US marketing professionals work with brand ambassadors (creators who are already familiar with a brand) to promote their products, per Capterra.
Brand ambassadorships are the perfect marriage between brand affinity and influencer marketing. The creators already love the product, so the content they create feels more authentic. It also gives brands a deeper connection with the consumer, helping them to understand what drives customer loyalty.
This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.
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