According to a new survey, pricing and delivery are the main factors affecting consumer year-end shopping decisions this year. In addition, 63% of consumers will shop on Amazon during the year-end shopping season, 60% will shop at Wal-Mart, and 45% will shop at eBay. Astound Commerce's research shows that Amazon dominates the year-end shopping season, and it also reveals the factors that will drive consumer decision-making in the year-end shopping season in 2017, and other related discoveries.
According to Deloitte's data, consumer e-commerce spending in the shopping season this year is expected to surpass in-store spending for the first time. Consumers are more inclined to e-commerce shopping because of convenience, wide range of products, and ability to quickly get products, but physical stores still play an important role, providing more interactive and more attractive shopping experiences.
To understand how consumers shop during the year-end shopping season this year, Astound Commerce Insights surveyed 1,000 consumers from the United States and 1,000 from Europe. These respondents all have smart phones and are shopping at least 4 times a year. The annual cost of online shopping exceeds that. 250 dollars. The report found that customer experience and strong customer service are important factors that affect consumer shopping, and whether it is important to save money.
Lauren Freedman, senior vice president of digital strategy at Astound Commerce, said: "Our research shows that each sales channel will play a role in the year-end shopping season. Brands and retailers must ensure that products are delivered in the manner and time that consumers want." In their hands, because efficiency is the primary factor considered by shoppers when they make purchase decisions, retailers also need to figure out how to get consumers away from Amazon and buy them in their own stores. Our research found that, not surprisingly, Amazon This year will dominate the year-end shopping season."
So what are the major factors that consumers consider when purchasing decisions for the year-end shopping season?
Price and shipping are the most important factors in driving consumer purchase decisions
When choosing a retailer, price is the primary factor consumers consider. More than 50% of consumers said that they would increase their shopping due to advance promotions, coupons, discounts, and package delivery because they only care about prices.
· The price is the most important factor. Seventy-eight percent of consumers indicated that the price was the reason they bought the product, 71% said that the package was the factor that determined their purchase, and 60% said that the promotion promoted them to purchase from a specific retailer.
Speed ​​is critical. There are two logistics factors that motivate consumers to purchase products from specific retailers, including products that are in stock (73%) and products that can be delivered quickly (66%).
· The shipping is more effective than the category. Shipping is another factor that consumers will consider besides price, ahead of product classification, distribution speed, convenience, and loyalty programs.
The year-end shopping season Amazon is the protagonist Amazon's influence continues to expand, and now most of the consumer will buy on the platform. In fact, 40% of respondents indicated that they have half of their year-end shopping season products will be purchased on Amazon. The rise of Amazon also prompted consumers to go shopping on the platform, and 69% of consumers indicated that compared to retailers, they would choose to shop on the platform because the price is cheaper.
Consumer year-end shopping channels and Amazon platform related findings:
Amazon's price, logistics, and category range encourage consumers to purchase products. More than half of respondents believe Amazon ranks first in terms of low prices, fast delivery, and a wide range of categories.
· The platform will play a major role. Sixty-three percent of respondents said that they will buy products on Amazon on the end of the year, 60% on Wal-Mart, and 45% on eBay.
· Consumer loyalty programs like Prime members promote consumer purchasing decisions. 41% of respondents stated that they would purchase products from specific retailers because they participated in loyalty programs.
New channels and experiences will increase consumer interest in shopping
Although consumers will focus on online shopping during the year-end shopping season, social media, physical stores and other channels are also playing an important role in promoting product sales. Some social media will become the source of e-commerce website traffic, and 66% of consumers will still touch and feel the product in the store before buying.
Here are some of the findings related to consumer year-end shopping channels:
· Consumers use technology in the store. Nearly one-third (32%) of consumers indicated that they are likely to use an in-store touch screen or interrogator to find products, place orders, or distribute to retailers, while more than one-quarter (approximately 27%) of consumers will use it. VR helps you choose your product.
· Social media will drive consumers to buy products. Past surveys show that 59% of millennial consumers buy the retailer’s products because they participate in the retailer’s social activities, compared with only 50% of the Astound Commerce survey. In addition, past surveys also showed that nearly 55% of millennial consumers browse a website because of social media, compared with 45% in the current survey.
· The growth of mobile device online shopping will continue. The mobile device App or webpage has a good shopping experience, which is why 40% of respondents buy products from specific retailers. Compared to last year, nearly 40% of consumers plan to order more products through mobile devices this year.
Freedman said: "Brands and retailers must have a comprehensive plan, features and customer service to enable consumers to pay for the year-end shopping season and continue to innovate. Platforms will continue to maintain good growth, but competitors may also Use their physical stores and social media to attract customers."
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