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BizReport : Ecommerce archives : July 14, 2017

Retailers should pay heed to online shoppers' hearts as well as heads

Emotional intelligence is what will win over a new generation of online shoppers, according to a new study from payment firm, Klarna.

by Helen Leggatt

Klarna's survey of more than 2,000 consumers in the UK reveals that younger consumers are far more likely to get emotional while online shopping.

Those aged between 16 and 34 were three times more likely to experience excitement when adding items to an online shopping cart than older shoppers. This age group is also more likely than shoppers aged 55 and over to feel anxiety and guilt as they go to pay (68% vs. 24%).

Fear is another emotion experienced by Millennials while online shopping and this age group are more likely to make a purchase if an online offer is nearing expiration - more than half (58%) are driven to purchase by time-limited offers.

What this research also highlights is the myth that items added to an online shopping cart indicate an intention to purchase. In fact, most (89%) Millennials will use a shopping cart as a way to review costs and nearly three-quarters (74%) say they add items to a shopping cart with no intention to buy.

"Applying behavioral psychology can help us understand what consumers love and hate about online shopping," said Dr Julia Vogt, assistant professor in psychology at the University of Reading. "Emotional factors can cause hesitation in the process which can derail a purchase right up until the final payment. By understanding the role of heart as well as the head, retailers can create effective customer engagement strategies to nudge consumers to conversion."

Tags: ecommerce, emotional intelligence, online shopping, research, retail, UK

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