How Modern Consumer Behavior Has Changed in the New Omni-Channel World [2017 Infographic]
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Modern consumer behavior has altered so drastically over the last few years that even in a healthy economy, retailers aren’t feeling the revenue benefits. Is it that shoppers aren’t shopping? The data suggests that isn’t the case. Instead, deep discounts have obliterated margins, as has free shipping for even the Amazons of the world (no, it’s not even profitable for them).
What’s the solution? Getting smarter about sales channel strategies. See, our evolving understanding of consumers behavior now suggests that shoppers browse and buy on various channels.
Few are loyal to only one. Sure, price impacts conversion rates and abandoned carts, but so to do many other factors including the lack of a brick-and-mortar location, delivery lag and privacy concerns.
Of course, even with those issues at hand, more and more people are buying online –– and doing it from wherever is the most convenient. Some are shopping from bed, in the bathroom, at work –– no place is safe from our desire to hit the buy button.
The next question is, with more and more data about how consumer behavior is becoming more omnichannel — and where retail is trending —, how will retailers alter their merchandising and channel strategies to better attract customers and provide that seamless omni-channel experience that is still much more consumer fantasy than reality?
We’ll have to leave it to the retailers to see.
We dove into consumer behavior research by surveying shoppers on what impacts the consumer buying process. Why do shoppers make purchases online? Why not?
For those who do choose to shop online, how integrated into their daily lives has ecommerce become (spoiler alert: very!).
There are many different models for online retailing: social media platforms like Facebook and Instagram, marketplaces such as Amazon and eBay, and web-only stores such as Son of A Sailor. The one thing they all have in common? People. Customers. Folks who have a need and want to satisfy it.
The next wave of retail will be conquered by those who connect the dots from these various customer touchpoints and provide a cohesive experience that delights shoppers — no matter where they interact with a brand.
With that, check out the following infographic on modern consumer behavior and a summary of the data below:
- 58% of customers are deterred by shipping cost
- 49% of shoppers don’t buy online because they can’t touch and inspect a product
- 34% of online shoppers can’t wait out the delivery times — no matter how fast they are!
- 34% of respondents cited a difficult return process for their purchased goods
- 29% of shoppers prefer to buy at brick-and-mortar locations due to privacy concerns
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