Know Your Buyers: Consumer Shopping Patterns
It’s important for all businesses to be aware of their customers’ needs and desires to better understand what products and services are most valuable for consumers. In a recent survey, ChannelAdvisor has researched consumer shopping behaviour on a variety of platforms and marketplaces to discover key trends and patterns. The survey was conducted with a sample of 500 consumers in the UK which purchased an item from Amazon within the past three months. It provides a snapshot into user considerations during research, discovery and purchase stages of a purchase.
The four most important factors amongst users were reviews, descriptions, coupons, images and videos.
The data reveals that Amazon stands out amongst competitors, such as Google and Facebook, as the favourite platform for finding and discovering new products. Amazon also beats others in the discovery stages, with 84% of respondents stating that they have purchased a product from a brand they didn’t know prior. This trend is a particularly good indicator for small and medium-sized sellers on the platform, as it enables more competition with large e-commerce brands.
This presents a shift in e-commerce markets, as more brands and retailers can transition operations into Amazon’s marketplace. With the vast number of products available, it becomes even more important to create an effective Amazon strategy.
Strategies for Sucess
Statistics indicate that 82% of survey respondents choose Amazon as the go-to platform for finding new products, with the closest competitor, Google, ranking at 68%. In comparison, retailers’ website are ranked fourth with 46%. Ensuring that products have correctly configured SEO keywords, optimising product descriptions and providing clear, concise information is helpful for establishing and maintaining good practices.
Visuals play a key role in highlighting the product’s selling points and act as a substitute to physical store access for users. Videos are found to have a direct effect on conversions, according to 16% of respondents. Be aware that Amazon’s appeal is highest with older shoppers, as 91% of 65+ year-olds respondents stated it as the go-to platform. Younger users will tend to do additional research and visit retailer sites, so maintaining competitive pricing is also essential.
Social channels are more popular with users during the product research stages, especially with younger demographics. For instance, 50% of 18-25-year-old respondents will search Instagram for products to find out more information.
Boosting with advertising
Page position is particularly important to users browsing, as the position is often associated with the trustworthiness of a brand or product. Amazon’s ad revenue was $4.8 billion in the final quarter of 2019, and surveys show that 66% of respondents have clicked on recommended products, making it an essential tool for maximising sales. Social media advertising is just as important, with its influence peaking in channels advertising to people aged 26-35, boasting 75% influence.
Standing Out
56% of respondents shared that reviews are the primary reason for choosing a particular item, therefore it’s important to use tools such as the Amazon Early Review Program and encouraging users to review items by providing them with a positive shopping experience.
Coupons and promotions are another great method of standing out amongst the crowd, with 37% of respondents sharing that they are keen on obtaining coupons or promotions as a purchase reward.
At Activ8, we’re able to help address all your digital touchpoints. Our experts specialise in identifying and managing all aspects of the e-commerce process and help you establish a plan for sustainable growth. Contact us to find out more.