On today’s Business Beat, Jeff discusses a new report from Jungle Scout, which found that during the second quarter of 2021, 80% of online shoppers expect free shipping when ordering over a certain dollar amount. To consumers, the three most critical drivers of sales are free shipping, ratings and reviews and the lowest price.
Tune in to the Business Beat, below, to hear even more about the importance of free shipping and what today’s consumers want:
“Look, the bottom line is that as more and more businesses do go online to sell to consumers looking to buy online, things are becoming more and more competitive. In order to beat the competition and win it being in business online, you have to offer the kinds of incentives that drive sales.”
– Jeff Sloan
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Good morning, Paul!
We’ve strongly advocated for taking your business online on the Business Beat, even if that means going as far as becoming a digital-first business, and people are listening. At StartupNation, we get questions and inquiries daily about how to best make that happen. And once your business is online, the big question becomes: what drives sales most effectively?
Is it coupons? Is it discounts? Is it other forms of deal promotions? Nope. What drives consumer purchases by far and away, more than other incentives, it’s free shipping. According to Jungle Scout’s Consumer Trends Report, in quarter two of 2021, a whopping 80% of online shoppers expect free shipping when ordering over a certain dollar amount. 66%: why not on all orders? Moreover, 91% expect online orders to be delivered within a week, 9% on the same day and as much as 27% on the same day or the next day. Other key drivers of online sales that you need to be aware of: ratings and reviews. 70% of consumers say those are the critical drivers. Next, 67% say that lowest price is the most important to them.
So, there you have it. The top three: free shipping, ratings and reviews and lowest price. With those incentives, you’ll keep up with what consumers expect and demand today in order to do business with you. Look, the bottom line is that as more and more businesses do go online to sell to consumers looking to buy online, things are becoming more and more competitive. In order to beat the competition and win it being in business online, you have to offer the kinds of incentives that drive sales.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
