E-commerce Buying Power: Who Calls the Shots?
Who is calling the shots when it comes to e-commerce sales? Whilst an increase in online purchases has been noted in all demographics, which group is influencing change?
According to consumer research conducted by SendCloud, Millennials (aged 25-40 years) spend significantly more per order than any other group. This means that retailers are focused on understanding and meeting their requirements above others.
Responding to Online Shopper Expectations
E-commerce can be more responsive to changing consumer demands than traditional retailers. It’s not easy to keep pace with ever-changing requirements, however, the availability of data and technology makes it easier than ever.
So, what do Millennial online shoppers want? According to the data, they want choice and convenience. This doesn’t simply apply to product ranges; the option of same/next day or weekend delivery is an important factor in purchasing decisions. Whilst older shoppers typically accept the standard delivery to keep costs down, Millennials are willing to pay extra to get things on their terms.
Do your E-commerce Logistics Add Up to Great Service?
To meet the expectations of online shoppers, e-commerce retailers need to establish efficient:
- Order processing
- Packaging supplies
- Packing systems
- Courier services (SendCloud whitepapers include a useful UK courier comparison guide for e-commerce retailers to download)
- Order tracking systems
The research also shows that 72% of online customers have added products to their orders to qualify for free shipping. The option of free returns is often checked before an order is in place. At what point does your company cover the cost of shipping? Do you believe it influences purchasing decisions and is it commercially viable as a long-term strategy?
Alongside satisfying need with efficient logistics, brands can encourage repeat purchases by personalising the online shopper experience. Printed packaging and inserts are great ways to build brand awareness and engage with buyers.
As we move towards the festive peak season, it is time to ensure that your e-commerce business has everything in place to optimise choice, convenience and customer experience.
