The e-commerce industry is changing each year. Understanding industry and consumer trends can help e-commerce stores adapt to the diverse needs of consumers. If you’re looking for information on how consumers purchase online, what influences them from buying online, and what they want to see on your e-commerce store, then you’ll love this infographic.
1.)62% of smartphone users have made a purchase online using their mobile device in the last 6 months
Mobile-friendly websites only become more important every year.
If your website is not currently mobile-friendly, you could be missing out on higher conversions and missed sales opportunities.
2.)51% of Americans prefer to shop online
As your target market is looking for products online, the next step is to know how to focus their attention to your store.
3.)Ecommerce is growing 23% year-over-year
The e-commerce industry is constantly expanding and there is plenty of opportunity for growing your online store.
Understanding consumer behavior can help you stay ahead of the competition.
4.)95% of Americans shop online at least yearly.
Every year, most Americans are shopping online.
Buying frequency is likely to increase every year, which may lead to more repeat business and increased buying frequency from customers. This is good news for e-commerce business owners.
5.)55% of all ecommerce sales are done through branded stores vs. 45% via marketplaces
With the majority of e-commerce consumers purchasing from branded stores, there is a great opportunity for those looking to build their own online store as a unique brand.
6.)The top three factors that are very or extremely influential in determining where Americans shop are price (87%), shipping cost and speed (80%), and discount offers (71%).
Keeping these factors in mind while growing your brand could make things easier for generating new business and improving the lifetime value of your customers.
7.)20% of online shoppers would be likely to make a purchase from Facebook.
Facebook can be a great way to generate new business through advertising, and sharing new products, discounts, or general news about your online store to your customers.
8.)14% of online shoppers would be likely to make a purchase from Instagram
Instagram is a great way to promote visuals of your products with your followers. Implementing an Instagram marketing strategy could be very beneficial to your e-commerce store.
9.)10% of online shoppers would be likely to make a purchase from Snapchat.
Combining Facebook, Instagram, and Snapchat for your marketing strategy could be a powerful way to generate new customers and repeat business by increasing your store’s following.
What online shoppers want
10.)Images of products 78%
Having high-quality product images can be a large influencing factor for converting more consumers into customers.
Making sure the images on your website are up to date may show a surprising increase in sales conversions.
11.)Product reviews 69%
Getting your previous customers leave feedback on your products can make or break a potential customer’s buying decision.
12.)Live chat 22%
Live chat seems to be on the lower end of importance, though is still something that many online shoppers may want to see.
Being available to answer your customer’s questions immediately may help improve your brand’s reputation, and improve conversion rates.
13.)Did you know? Excessive online discounting can lead to brand equity erosion, diminished retailer profit margins and ultimately turn away retailers from supporting these products.
With discount offers being an influencing buying factor for potential customers, excessive discounting can cause companies to monitor MAP (Minimum Advertised Price) policies to ensure their products are being sold at a reasonable price to maintain profit margins for each business involved in a sale.
For more information, check out our infographic on MAP pricing.
To learn more about enforcing your MAP policy, contact Trade Vitality for a free 14-day trial of our map monitoring software.