BizReport

RSS feed Get our RSS feed

News by Topic




BizReport : Ecommerce : October 08, 2020


Reports ID trends in ecommerce since beginning of pandemic

While ecommerce saw a tremendous 66% spike in conversions in May when many states were under lockdown and consumers turned to the digital space for everything from grocery purchases to eating out, those sales numbers have now stabilized, albeit higher than last year.

by Kristina Knight

According to new Nosto data ecommerce sales are averaging 7% higher YoY and that traffic has increased by about 3% since 2019.

While consumers have increased their online spending, they've also increased their search for good deals. Valassis' latest Consumer Intel Report finds that about 56% of shoppers 'find it exciting' when they have a coupon for a new item and that about 45% are now using coupons and discount codes to make their shopping dollars go farther.

"The modern shopper leads a multi-faceted life. Deals and discounts appeal to their desire for not just saving on their daily needs, but also to try new things and connect to the world around them, a fact that should make providing deals and discounts even more compelling to marketers," said Michelle Engle, chief marketing officer at Valassis. "But our findings also uncovered that value comes in several forms and consumers want choices that enable them to find what they deem to be valuable. Data and insights, like those from our Consumer Intel Report, help brands identify what is important to their consumers, connect with them and plan for a new yet uncertain normal."

While coupons are helping shoppers save more, data out from Sinch sheds light on what shoppers want out of a mobile experience. Key among the findings is that consumers want mobile notifications about potential problems (91%) such as with their banking accounts, but that only about one-third currently receive them. Other notification types that are of interest to shoppers including service outage notifications (89%) and public health concerns (88%).

"Customers are now overwhelmingly mobile-first, and they want utility at the press of a button: the ability to reserve, confirm, purchase, cancel, inform, entertain, and seek connections in an intuitive, personalized way. Customers are ready for these kinds of AI-powered conversations across channels on their mobile devices, and brands are in a high-speed race to provide all of these digital interactions," said Jonathan Bean, CMO, Sinch.  

As to the digital experience, as a whole, Decibel's latest study finds that the user experience is directly linked to conversion rates. The bad news? Consumers aren't liking the current 'experience climate'. Decibel's research found that on average people give their digital experience a 5 of 10 score, indicating that brands across the digital space need to up their experience game.

"With the upheaval in early 2020 shifting much more activity online, the customer experience provided on digital channels is becoming the main competitive battleground for businesses seeking to win and retain more customers. For organizations serious about success today, investing in digital experience optimization has never been so important," said Shane Phair, Decibel CMO. "The results of our annual report show us that there's still plenty of optimization work to be done, and that no business or industry is getting it exactly right."






Tags: Decibel, ecommerce, ecommerce trends, m:commerce, m:commerce trends, Nosto, online shopping trends, Sinch, Valassis








Subscribe to BizReport







http://www.bizreport.com/2020/10/reports-id-trends-in-ecommerce-post-covid19.html

 

 

Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.