On this morning’s WJR Business Beat, Jeff discusses a study just released by Avionos, Who Wins Where, which provides lessons and insights for e-commerce brands. The study reports that the COVID-19 outbreak has accelerated changes in online shopping that are not only surprising, but also favorable to online merchants.
Here’s a breakdown of further key points from the study:
- 70 percent of consumers say that an easy online and mobile shopping experience is the most important factor contributing to their online purchasing
- 56 percent of digitally native customers specifically say its fast, free shipping that is the most important key purchasing driver
- 76 percent say that fast shipping speed contributes most significantly to a positive customer experience with that online retailer
- 55 percent ask for an easy, reasonable return policy
- 57 percent rely on online consumer reviews when making a purchase
Tune in to the WJR Business Beat as Jeff breaks down the study further:
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“You must focus on convenience and efficiency to create a supreme customer experience if you want to drive sales and put more money in your pocket.”
– Jeff Sloan
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Good morning, Kevin.
We all tend to think that it’s discounts and deals that drive online consumer purchasing, but in the COVID-19 era, it’s convenience and free shipping that are the biggest drivers of consumer purchasing. According to the study Who Wins Where, lessons for digital brands, just released by Avionos, the COVID-19 outbreak has accelerated changes in online shopping that are not only surprising, but also favorable to online merchants, if featured effectively.
Generally speaking, in today’s world, it’s all about providing a supreme customer experience, leading to a sense of efficiency, convenience and value, all of which are much less costly to online merchants to provide versus deep discounting.
Here’s a breakdown of further key points from the study:
70 percent of consumers when shopping a digitally native brand, that is a pure play e-commerce retailer, want a simple and easy online and mobile shopping experience as the most important factor contributing to their online purchasing.
56 percent of digitally native customers specifically say its fast, free shipping that is the most important key purchasing driver and 76 percent say that fast shipping speed contributes most significantly to a positive customer experience with that online retailer.
55 percent ask for an easy, reasonable return policy.
57 percent rely on those online consumer reviews, which we all know are so important.
And all of these factors fall into the category of convenience in the customer experience and they all trump discounting. So how about those deep discounts as a way to drive sales? Well, only 32 percent of consumers surveyed said that discounts and deals are the key driver of their purchasing.
That is really surprising. And if you’re an online retailer focused on discounts as the key driver to drive sales, you’re probably leaving money on the table. You could be selling through Amazon, eBay, Etsy, Shopify, or your own e-commerce site, but in any case, you must focus on convenience and efficiency to create a supreme customer experience if you want to drive sales and put more money in your pocket.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s WJR Business Beat on the Great Voice of the Great Lakes, WJR.
