To survive the current global economic downturn caused by the coronavirus pandemic, retailers need to fully accept mobile device shopping. To succeed, the e-commerce industry needs to learn about how consumer behaviors are shaping the future of retail.
A new report by ClearSale and Sapio Research, reveals deep insights about how online shoppers in the U.K., U.S., Canada, Mexico, and Australia decide which ecommerce stores to buy from and which to avoid. According to Rafael, ecommerce merchants who understand these consumer attitudes can improve their customer experiences and reach cross-border customers more effectively in 2021 and beyond.
Looking at trends from the U.K. perspective is Rafael Lourenco, EVP & Partner at ClearSale. He tells Digital Journal what the main trends from the study mean for British retailers.
The first finding of interest is that e-commerce shopping on mobile devices is now accounting for around half of transactions. According to the report, 52 percent of all consumers order from overseas merchants and in-country retailers and 50 percent are most likely to shop on a smartphone or tablet.
The implications of this are that merchants who do not accept cross-border orders and provide a good mobile experience are missing out on half of their customers.
The second finding feeds into the impact of the coronavirus pandemic. Here, 78 percent of all consumers say they feel as safe or safer shopping online than in stores. This is notwithstanding that 42 percent have been victims of online fraud.
This suggests that e-commerce is set to grow as the coronavirus restrictions and threats continue.
Having a smooth online experience is important in order to secure returning customers. The third point of interest is that U.K. shoppers are likely to hold a grudge when falsely declined. In fact, 38 percent state they would never place an order with a merchant again.
This indicates that although consumers worry about fraud, they do not have the patience to deal with false declines.
A streamlined and simplified e-commerce portal is essential. This is in relation to the survey finding that 39 percent of U.K. shoppers have abandoned a purchase because the checkout process was too long/complicated.
This shows that consumers value convenience and want an easy, quick online shopping experience.
Various payment options are also important, as the survey discovers that 40 percent of ecommerce shoppers have their credit card within easy reach while shopping.
This means that e-commerce merchants need to welcome mobile wallets and other payment options.
These types of findings point to important trends shaping the future of retail and key ecommerce best practices that retailers should consider focusing on to create a better customer experience and reach a wider consumer base in 2021.
ClearSale