Ecommerce evolution during the pandemic
For the past year and a half, and in the wake of the COVID-19 health crisis, there has been an intense evolution of consumer demands, which has resulted in an unstoppable advance of online commerce.
How to sell online at the height of the digital wave? To answer this question, it is essential to understand how the consumer has evolved over the last 18 months and, although there are differences between individuals, what are the main consumer trends for 2022.
Some of the main expectations of the online consumer that will help you position yourself above your competitors are: a transparent shipping policy, lower shipping costs, or secure payment solutions.
To better understand the new needs of the digital consumer, let's review what factors have been shaping their experience and how it has evolved since 2020.
2020, the boom year for eCommerce
In 2020, 84% of consumers claimed to have made more purchases online. Initially, online retailers were not prepared to handle such high and sudden demand, which led to stock shortages and the congestion of shipping and delivery services. However, in response to this new consumer need, eCommerce stores around the world were quick to respond by providing greater coverage to their customers with increased stock and improved shipping services.
Today, although physical stores are starting to operate normally, the post-covid consumer trends mean that online retailers have to respond to if they want to remain relevant. Do you want to understand them better? We bring you five new online consumer trends for you to learn how to sell online this 2022, according to a study by Linnworks.
Five new online consumer trends for 2022
Convenience takes on a new meaning
According to Linnworks, 76% of consumers value eCommerce convenience as one of the most determining factors when shopping (and 78% say they value convenience more than they did before the pandemic). It means that any barrier on your eCommerce portal that stands between you and your customers, and slows down their buying process, is reducing your profits. For example: one of the elements that respondents found most convenient is the ability to browse an online store without the need to register on the site. Also, the fewer forms or intermediate steps the customer has to fill out from the product selection process to checkout, the better the brand experience they get.
Unified commerce: A single multichannel payment platform
81% of online shoppers are looking for an online store that is accessible from different devices, and 70% admit that they make most of their purchasing decisions while performing other online tasks, such as using social networks. That is why making an eCommerce portal optimised for both smartphones and laptops, as well as integrating a multichannel payment gateway, are two key factors when it comes to increasing eCommerce conversion. What do we achieve in this way? Flexibility in the shopping experience from product selection to the checkout process; diversifying the payment process by offering payment channels such as pay-by-link, an interactive voice assistant, or an improved electronic payment service. Why? Because offering the highest number of options in an efficient and customer-friendly way is the best way to facilitate the purchasing process.
Simple, inexpensive, and fast shipping options
95% of consumers say that fast and cheap shipping is a key factor when choosing a trusted online store. That's why 72% of respondents admitted to having abandoned a shopping cart when they faced with inconvenient shipping conditions.
Simple payment technology
Offering multichannel payments is a way to adapt to the circumstances of each of your potential buyers, but it is useless if the payment gateway ends up being overly complex, or with unnecessary steps. That is why simplicity at checkout speeds up the purchasing process in 89% of cases. Likewise, 84% of consumers make purchases for larger amounts if they have flexible and simple payment channels.
PayXpert, the best eCommerce ally to sell more
As financial experts since 2009, we specialise in providing financial technology solutions to help our clients achieve better results. Increasing conversion through optimal management control and flexible and versatile payment technology are our two main services, both of which we know will get you more and better results. Do you want to start benefiting from the best financial technology? Let's talk finance.