Sunday, May 29, 2022

3 Consumer Habits that Impacts Retailers

Shopping online has made waves all around the world. The retail industry is ever-evolving with the shift in consumer preferences and desires. Shoppers are always on a constant lookout for new trendy outfits, gadgets and more to get the best online shopping experience.

As a retailer, if you are looking to improve and grow your business, you need to pause and look beyond the new fads and buzz in the market. 

Go for well-rounded research about consumer behavior to understand their psyche. Here’s a list of the top 3 habits you will note in consumers purchasing shoes and dresses online.

1. Shoppers Buy more During Online Shopping

Online shopping is all about buying what you love at your convenience –  simply unmatched. Today, anyone with a smartphone and stable internet connection can search for their favourite store online. 

They could scroll through the catalogues and instantly buy things like shoes, make-up or various dresses online. This ease is incomparable. Stats reveal that one in four people is an online shopper. That makes for a decent amount of crowd!

When shoppers turn to online stores, their basket is generally 25% larger than usual. 

There are two solid reasons for it. There is a minimum threshold that one needs to fulfil to receive free shipping. Two, the variety available online is monumental. one cannot physically find the same variety in a store’s inventory. 

Additionally, tracking a shopper’s preferences is more accessible through online shopping. When you understand what the consumer likes, you can target the right product at them. It helps create an impulsive urge to buy things. 

So, it’s time that retailers offer their services and products online. You are likely to capture a broader market then.

2. Online Shoppers Draw a lot of Comparisons

The online shopping journey is dramatically long – much longer than when someone goes to a store and makes a purchase.

About 57% of online shoppers usually check out a product on several online websites or go to multiple stores or both. Post a long-drawn comparison between products; the shopper finally puts out money for what he likes.

Comparing goods can result in a customer losing all his interest. This is why it becomes even more critical for the retailer to create an engaging environment to keep the consumer’s attention. 

So, create a website that’s easy to navigate and offer loyalty cards. Send reminders about products left in the cart and provide a reliable return policy. These things will help you build confidence in consumers who choose you over your rivals.

3. Re-purchases are Popular

Unlike others, fast fashion is not the real deal. Most consumers find comfort in buying similar products that they own and love. It is especially true when buying dresses online and essential intimates. 

As a retailer, you must worry about remodeling an old version of the product to entice the consumers.

Once you keep track of consumer preferences, you can target specific promotions and discounts. Drop reminders about renewing an old product. Tailor-make advertisements to catch their eye with the new version of the same product.

Wrapping Up

Human nature is unpredictable; thus, to assume that consumer trends will ever be static is impossible. Keep the above-mentioned consumer habits in mind while making necessary organisational structural changes and utilising technology for e-shoppers. 

You are likely to gain great success if you stay mindful of all the trends and changes.