Consumer behavior has altered significantly over the past year, with customers desiring greater levels of convenience and immediacy.
But what are the driving forces behind this change?
How the pandemic led to a change in customer behavior?
The pandemic has heavily affected consumer spending habits, with many now favoring online shopping instead of hitting the high street. With millions unable or afraid to leave their homes, online shopping became crucial for facilitating survival, and now many have become accustomed to this new way of life.
The pandemic has fueled our needs for convenience, immediacy, and simplicity - online shopping checks all of these boxes.
Millions of products to choose from, one-day delivery, and the availability of unique items that cannot be found in stores are just some of the reasons why online shopping is beginning to trump traditional retail models.
47% say they prefer shopping online due to the greater range of products available at the click of a button, while 35% are still wary of buying in-store following the Covid-19 outbreak. 54% said they valued the convenience factor of online shopping the most, with a further 57% saying they often find cheaper products online.
Which online industries have been most affected?
Not only has the pandemic increased our overall consumption of online goods - specific industries which were usually associated with in-person purchasing are now shifting to the web as those who were first required to shop online to avoid leaving the house have now learned to love the straightforwardness of online buying.
Items such as groceries, home essentials, and hygiene products were rarely purchased online in the pre-pandemic world but have now seen a massive surge in online customers.
Consumers are no longer just browsing the web for luxury items - the internet has become a store for essentials as safety is becoming a priority for shoppers worldwide.
Considering 48.8% said they intend to shop online more frequently, merchants must become aware of new consumer priorities, as these behavioral changes are likely to become permanent. The key to securing profits amidst a landscape of changing consumer desires is reinventing the traditional shopping experience to cater to the increasing want for immediacy.
Dezerv knows how to create a retail experience fit for the future.
Planning how to adapt your business in line with current retail trends?
Focus on creating innovative digital experiences with the aim to make shopping as simple as possible for the customer. Capitalize on the customer's desire for fast shopping by connecting your online and offline stores, allowing the consumer to choose where they buy.
Merging your online checkout with a POS system enables popular fulfillment options like local delivery or local pickup, as these options are faster and cheaper than shopping.
Customers are more likely to complete their online purchases and spend more.
New technologies can also help bring your brand to life in ways traditional shopping can't. Use augmented reality to simulate in-person shopping experiences, which allow consumers to see how products may look on them or in their homes. By creating a greater degree of intimacy between your products and customers, browsers are more likely to be converted into buyers, resulting in satisfied customers and higher profits for you!