Meeting The Needs Of The Modern Online Shopper
The way we do things is changing at a mind-boggling pace. Technology has become such a pivotal part of our lives, it is hard to remember life without it. While some businesses are still catching up to the digital age, most have dedicated most of their focus to winning over customers online by changing business models, moving transactions online, and incorporating new conversion strategies to meet the needs of the modern-day shopper.
As retailers shift their goals and tactics to satisfy the instant personalized experience shoppers have come to expect, here are a few trends to jump on in the coming year.
Improvements Customers Are Looking For
Before we dive into the trends, here are a few improvements customers are looking for when dealing with retailers in general.
- 63% of customers have stated that they want up to date and transparent information on websites.
- Roughly 93% of customers do not convert on eCommerce sites and the main factor behind this is shipping costs and product price.
- 88% of customers state that their buying decisions are based on speed and cost of shipping.
- 86% of shoppers want to purchase on the channel of their choice when shopping.
- Shoppers want more options from inventory, delivery, and payment.
These are just a few things shoppers are looking for and what your business should take into consideration going forward. While your store isn’t being solely judged on the services or goods you offer, the entire user experience is where most of these concerns stem from.
However, implementing a few of the tips below can help address some of these concerns and influence a buyer’s decision in a positive way.
As we mentioned before, customers are looking for more options and flexibility when it comes to shipping and payment methods. While credit cards and digital wallets are commonly found across the board, they are not a one size fits all solution for everyone. Credit cards add to the influx of debt most consumers are already trying to wrangle and not everyone has the luxury of qualifying for one in the first place. Digital wallets are convenient for online payments, however, this does not really meet the needs of consumers who do not have the total amount of funds available when checking out on your platform.
Consumers are looking for more financing options that give them the flexibility to pay off the purchase without high interest or APR‘s in order to maintain their financial well being and responsibilities to other debts. This is the reason why buy now pay later, or also known as Point of Sale financing is gaining a fortune of traction in the eCommerce space.
Offering Point of sale financing on checkout is a selling point that enables customers to purchase high-quality goods that are normally expensive without laying out the full amount upfront. And with partners like ChargeAfter, payment plans do not come with the hefty APR increases.
In addition to flexibility, buy now, pay later solutions offer consumers more transparency when purchasing. They know exactly what they are in for without hidden charges before they have finalized the deal.
Gone are the days where aspirational marketing once ruled. While these strategies may work for some companies, consumers prefer to see real people. The focus on celebrities or the ultra-slim does not appeal to the majority of consumers today. Instead, shoppers are connecting more with everyday individuals who don’t fit the mold that the media loves to portray. Body positivity, more inclusion, and more diversity are more valuable in connecting with your audience. According to a survey, 63% of Gen z’s prefer to see everyday individuals as opposed to celebrities in ads. Another report highlights that brands that utilize diverse ads are more likely to convert customers than those who don’t.
Innovation In User Experience
User experience has always been the key to more conversions, however, consumers are looking for more innovation in the service and experience they receive from merchants and retailers. This can be achieved by loyalty programs, points, or a full-blown virtual experience with a human element. For example, capturing the attention of Gen z by giving them a virtual alternative to trying clothes on in-store by allowing them to try on or test your products virtually with augmented reality technology. The possibilities in innovation are endless and once you give consumers a memorable experience, their loyalty to your brand will grow.
Implementing a few of these tips will not only help satisfy the expectations of your consumers but will also help increase conversions and close more sales.