We all know, what is happening around us. It’s the Online World, which is gaining momentum and nothing can ever beat this new super power. Fast developing technology, mobile revolution and the internet connectivity penetrating deep inside the urban and rural areas are the main force behind this unbelievable success.
Now it’s time we understand the ‘shopping behavior’ and the ongoing trends in one of the most powerful segment of this powerful online world. And ‘Internet, which is usually known as the ‘Online World’ provides us every information that we want to know. So, let’s explore and find out what they are.
Who does Online Shopping? Almost everyone with internet access have made an online purchase at some point in their lives. Online shopping has now become so popular influencing our life in a big way.
Why do they want to do ‘Online Shopping’? For many people, online shopping is an indispensable part of life. In fact, majority of them couldn’t live without it. Online shopping is more convenient than ever and if you can plan your online shopping, it can make your life very comfortable and enjoyable, saving your time and money.
How often we do online shopping? For many, online shopping has become habitual: 80% cite purchasing something online monthly, 30% weekly and 5% daily. Online shopping takes up a good chunk of our time, too. Generally, people spend about five hours per week on average shopping online, and those with kids spend an additional two per week.
Multichannel V/s Omni Channel Shopping: There are thousands of online shopping options for consumers, and few shoppers are loyal to just one. According to some global survey, about 75% of shoppers have shopped at large retailers, 50% on e-commerce marketplaces, 45% at webstores and about 35% at category specific online retailers.
This new consumer behavior has led to a rise in two industry terms: multi-channel and omni-channel. Retailers can be both or neither, though the most successful merchants are typically multi-channel and growing to become omni in the near future. That’s because consumers generally shop wherever is the most convenient.
How about ‘Coupons to Discount hungry’ online shoppers: In a way, shoppers are extremely price sensitive and look for coupon and discounts, especially those from the metropolitan shoppers.
Shopping regret: A large percentage of online shoppers make a purchase, which they later regret. Make the return process as easy as possible for the consumer so that it will build trust and encourage them to continue online shopping.
What do we buy in our Online shopping? You name anything and it is available online today. Whether it is a product or service new items are being added day by day. So, it is up to the consumer, what they want, do their search and shop them online.
When and where people do their online shopping? It’s very interesting to note shoppers behavior as to when and where do people shop online? While in the bed? While in the office? While in a Retail Store? While in the bathroom? Or while in our car?
And it’s true. Because, this is one of the biggest advantage of shopping online. You can do your online shopping very comfortably from wherever you want to and whenever you want to alone/ with you family members/ friends.
There are a few more interesting facts about ‘Online Shopping Behavior and Trends’, which will be discussed in the future blogs.