Shopping online has grown vastly over recent years, and shows no sign of stopping.
According to Nasdaq, around 87% of consumers from the United Kingdom have purchased one or more products on the internet in the last year. In fact, Norway is the only European country to have us beat when it comes to making e-commerce purchases.
Here at WK360, we want business owners to be aware of current trends in the market, and to have the tools necessary to prepare for any e-commerce or online marketing campaign they might be considering.
Electronics (computers, phones and consoles) and digital media (video games, music and e-books) are by far the most common purchases made online. The next sector is the fashion industry, as items of clothing and footwear account for almost 1/3 of online purchases.
68% of women have said that they check product reviews online before making a purchase, and 56% will use social media to find information about a product or business before making a purchase. Clearly, product reviews are critical for brands who want to make a positive impact on their target market.
Influencing factors when relying on product reviews include things like
Quality of review/overall content
Star ratings or marks
Quality of photographs attached
Time and date of the review
Only reinforcing this further, Animoto conducted a recent survey that reported a staggering 85% of small businesses who say that using social media has added to their list of clients. And these platforms are only getting bigger.
Nasdaq have also provided studies that suggest that by 2040, 95% of purchases will be facilitated by e-commerce. With mobile purchases becoming more prevalent than ever, companies will need to be ready to meet this demand, and invest more in mobile websites and sales.
Mintel have predicted an incredible £16.2 billion being spent by British people on online purchases of clothing, footwear and fashion accessories.
From 2012 to 2017, sales of online fashion have doubled, with no sign of slowing down. As well as that, online fashion purchases now account for 24% of total fashion purchases – this has risen dramatically since 2013, when it was sitting comfortably at 17%.
Perhaps unsurprisingly, precisely half of all online clothes shoppers have had to return some items they had purchased online. This statistic only rises when we distinguish genders/ages – 56% of female shoppers, and 60% of women aged 25-44 have had to return fashion items they bought online.
To minimise this, interactive images are on the rise. Panoramic shots, 3D images, and now all-angle 360°’s are making a heavy impact on the online consumer market. And, what’s more, there appears to be no negatives to investing in these medias.
When customers are able to see exactly what they are buying, they are less likely to be disappointed with the final product. This means you, as a business owner, would be building brand loyalty through satisfied consumers, and saving money and time by not having to refund customers.
Make sure you have all the information you need to plan successful e-commerce. Make sure your brand has The Edge.
Written by John Davis