Online digital service comparison website CyberCompare.net has released new information on online shopping behaviour. It is hoped this information will give consumers a greater idea on how to run a proper website and how this can benefit their overall revenue.
Online shopping is now one of the most valuable economic tools in the world. It has influenced entire economies, both national and individual. Additionally, it has completely changed the way people shop. Retailers all over the world are trying to get a piece of the online pie, which they often achieve through a tool known as “multichannel marketing”. This means that they have to have a greater understanding of consumer preferences and patterns, so that they are able to better answer these demands. To help people gain a greater understanding of this, CyberCompare.net, a UK based digital services comparison website, has released the following statistics.
- It is believed that online shopping will keep on growing. By 2017, it is believed to be worth $370 billion. In 2012, the revenue was $231 billion.
- Many people are using smartphones in order to shop. This is seen a lot in the generation of people aged between 25 and 35, who use these devices to complete comparison shopping.
- 72% of people now use online comparison shopping before making a decision on what to buy, even if they intend to shop online.
- Almost 50% of people say that they often look at items and research them, even if they do not intend to purchase them. Furthermore, 36% say that they will only purchase items that they need, and one third of these are happy to pay the full price.
- Online shopping has seen an 11% growth since the last year, and orders have been up by 13%.
- Retail revenue that was created by shopping on mobile devices is up 35% compared to last year. Around 18.5% of all eCommerce is now generated through mobile devices, up from 13.5% last year.
- The largest online constituency is made up of people over 50, which is something that many people find highly surprising.
- Around 65% of the over 50s now shop online.
- Around 75% of adults online have actually shopped online as well, particularly those aged between 24 and 32, followed closely by those aged between 33 and 46.
- Spending is up across the board, although the younger generation seems to be spending slightly more.
- 83% of people say they are very satisfied with their online shopping experience. However, when going into specifics, asking about flexibility of delivery and purchase or choosing green options for shipment, satisfaction drops markedly to just 50%.
- People want to have flexibility when it comes to their shopping experience. 62% of people, for instance, want to be able to purchase online yet return in store. Additionally, 44% of people want to shop online and pick up in store.
- Cyber Monday continues to be the highest grossing single day of online shopping.
- 84% of people who shop in store will first check items on their mobile phone. 50% of people also report spending around 25% more than they had expected. Furthermore 75% of people say that they have based their decisions on whether or not to purchase something by looking online.
“We believe that this type of information clearly shows the changing behaviours of people who shop online, and that business have to learn how to respond to this”, says Anthony Shapley, Managing Director for Cyber Compare. “By understanding how important the online world has become in terms of shopping, and how to give customer and consumers what they need, businesses will be able to generate far more revenue.”