Getting eCommerce Right in the 2020s
In the previous years, the digital landscape has gone through extraordinary change. Merchants have taken a nimble approach and adapted their digital strategies as a way to offer their customers a brand-new experience and keep them purchasing online.
Therefore, it was intriguing to read the findings of the EMEA wide study of more than 10,000 consumers by Adobe titled Getting eCommerce Right in the 2020s. This study outlined what matters most to consumers and how online merchants should respond to cater to this.
Since 2020, eCommerce merchants have gained a huge opportunity as many consumers have switched to online shopping. However, alongside these changes, consumers have gained new expectations concerning how they shop; having higher appetites for eCommerce and accelerating digital savviness.
If merchants can adapt and respond to consumer needs, they are able to cement new customers and create loyalty between them. Adobe outlines the theory to be successful as being armed with insight regarding the ‘how, when and why’ of online shopping. This may seem like a big ask for a company to do, but by joining with a Magento and eCommerce agency such as us at Ad Lab, an Adobe Bronze Solution Partner. Can work together with your company to help identify the areas your customers want and maximise on your consumer’s needs.
The study outlines areas in which it recommends merchants to focus on to ensure they continue meeting the changing needs of their customers.
The rise of the mindful shopper
The findings within the study demonstrate the ever-growing importance of brands reflecting their customers’ personal values in order to gain preference. Nearly 60% of UK shoppers said that they would switch to a brand that better represented values which they held close, with a majority of 87% saying their values and things they care about play a greater role in how and where they choose to spend their money. This importance is further demonstrated with almost 40% of shoppers actively seeking out sustainable and environmentally responsible brands.
For brands, it is not about simply offering a product portfolio that appeals to the shopper. People care about a brand’s values and how they behave and if they don’t agree with it, they will go elsewhere. Brands need to effectively communicate their credentials to their shoppers and act on the issues they care about whether it be climate consciousness, ethical supply chains or a strong track record in how they treat their employees.
Too much choice is overwhelming
Further within the report by Adobe, it is highlighted that the general consumer desires a simplified shopping experience, finding too much choice overwhelming. 91% of UK shoppers were found to crave simplicity when online shopping, with one in five shoppers keen to see fewer products on the virtual shelf (22%). While over a third of consumers want to see products and offers that are relevant to them, rather than an entire catalogue of products thus highlighting the importance of personalisation and simplicity in eCommerce.
Personalisation has been a difficult factor to utilise as the previously used group demographics have begun to become less and less effective as time goes on. While around 60% of consumers are interested in receiving targeted offers from merchants. There has never been a more important time for retailers to introduce personalisation as a key component of their digital strategy.
Virtual Reality is helping sell luxury goods
The shopping experience online is transitioning into an expectation to be much more experiential and innovative, especially in relation to luxury, high-value items. Adobe’s report states that around 65% of people are more comfortable buying big-ticket items compared to a year earlier, with 62% of shoppers showing interest in utilising virtual reality (VR) as a way to personalise their experience. Virtual reality as a factor in eCommerce is hugely advantageous for a merchant, with 50% of people being prepared to purchase a product having only seen it through VR.
Brands are looking to invest in innovation and embrace emerging technologies to cater to the ever-increasing appetite consumers have for new and exciting digital experiences. Once consumers engage with these experiences the demand and repeat consumption is likely to continue growing.
Additionally, those in eCommerce are looking to attract and retain new customers as the amount of digital shopping continues to increase and to do this, merchants are needing to meet the high standards consumers are demanding from them. Those who are offering simple personalised experiences which showcase innovation are set to thrive in the year ahead.