We shop differently on the Internet than in local shops. There is no such thing as “better” or “worse,” so local stores will not go away. For the 2016 Christmas business, German retail reported new record sales – in the offline area! Online purchases can not top the shopping experience in the shopping arcade. Nevertheless, we buy differently and sometimes more optimally (cheaper, more price-sensitive, more brand-conscious) when sitting in front of the computer.
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Change in shopping behavior through the Internet
The online economy has changed shopping behavior in general. Today, we make our purchasing decisions more quickly and spontaneously because we know that we can google for an alternative right away – of course, with our smartphone while we are out in the shopping mall. The abundance of possibilities could paralyze us, but it does the opposite in healthy people – namely, the pressure to make decisions. Yes, we know that everything could be better and cheaper somewhere, but after all, we have to decide at some point – so why not now? Purchases are made remarkably quickly on the Internet, even though the next opportunity is just a click away here.
Consequences for Marketing
Online marketers have to reckon with this lightning-fast decision-making process and pay attention to the product presentation and the unbeatable price, and the best findability in the search engine. The price and brand awareness has undoubtedly changed by online trading. Online buyers are highly price-sensitive. After all, the medium of the Internet is ideal for extensive price comparisons. Impulse and spontaneous purchases are observed for clothing and groceries, but for more expensive purchases such as electrical appliances, buyers carefully compare several providers. This also means that these goods are more likely to come under price pressure in the medium and long term due to online trading.
Trends in online retail
The Online Monitor 2021 trends for online retail. Accordingly, the growth rates have now declined slightly. Growth is still taking place, but not as unchecked as in the past ten years. According to this, e-commerce sales will increase by around 10%.
Successes and failures in online trading
Online providers have to adapt to the changed online shopping behavior. In contrast to traditional retail, there have only been very short-lived experiences to date. The classic shop has established itself over centuries. The successful presentation in an ordinary supermarket (and especially in the stationary jewelry or fashion boutique) is now a science in itself. But what works online? The providers only know this more or less well. Accordingly, there are not only great successes but also failures to report. Some shops have disappeared again because they made these mistakes, among other things:
- Confusing websites
- Lack of price and terms and conditions transparency
- Too few payment options
- Limited offer
- Bad delivery conditions
- Lack of support
- Lack of search engine optimization
The big players like Amazon know what is essential. The internal search engine and the link to Google work exceptionally well, and purchases can be made with a single click if necessary. The product descriptions are mostly excellent. These companies understand how online and offline shopping behavior differs.
Also Read: Keys To Overcome The 7 Barriers of Ecommerce