Shopping behaviour is changing. A recent report published by Raconteur highlighted that, during the peak of the Covid-19 pandemic, 39% of consumers had purchased products online that they had not considered before, and 77% expected they would continue to purchase more online after lockdown restrictions eased.
The pandemic has accelerated the shift to ecommerce, with consumer demand for online shopping rising substantially. As retail brands continue to adapt their business models to beat competitors and survive, it is important they understand what today’s increasingly digitally savvy shoppers need.
A recent webinar, hosted by InternetRetailing and presented by Laurel Wolfe, Klarna and Deepak Anand, BigCommerce, looked at how brands can turn shoppers from browsers to buyers and brand advocates in 2020 and beyond.
Key discussion points included:
Research from Klarna and BigCommerce finds that 46% of consumers are more likely to shop online with brands they trust. By ensuring their retail site is easy to use, has limited steps in the checkout process, and provides an overall frictionless experience, retailers can build trust in their digital customer service.
This is particularly crucial as 75% of consumers will likely abandon their shopping cart if they do not trust a website’s security. Retailers must invest in security technology to ensure their brand has security vetted certifications that can monitor for fraud and offer buyer protection. The retailers that can provide this level of reassurance will ultimately build consumer trust.
To stand out from competitors post Covid-19, brands must engage with potential customers, as well as listen to post-purchase feedback. This interactivity is crucial in ensuring retail brands understand customers’ pain-points, and as Laurel Wolfe highlighted in the webinar, the ‘passion-points’ of their shoppers. It is only by gaining this understanding that brands can provide truly personalised engagements for customers.
For instance, Klarna identified beauty and wellness as the top performing category during lockdown, and introduced a D2C social campaign in response to this. By interacting with consumers directly, the brand could engage consumers via social platforms with competitions, deals and influencer content. This tailored marketing campaign demonstrates how brands can respond to consumer needs in real-time, and pivot their strategy accordingly.
While shipping delays were accepted a few months ago, research shows around 90% of consumers are now expecting businesses to get back to normal, so meeting customer needs and providing great experiences is crucial.
Consumers’ expectations of brands are rising again and retail brands must respond to this. With 28% of consumers more likely to recommend brands and retailers that offer a good online experience, brands must invest in omnichannel services and technology to provide shoppers with a seamless experience across all touchpoints. This is what will turn shoppers from browsers to buyers, and even brand advocates.
The brands that pivot their business strategy in line with customer needs will navigate the rapidly changing retail climate successfully. Visit our Retail HOTLine for more.