CHICAGO and MALMÖ, Sweden–(BUSINESS WIRE)–A new study from inriver looking at online shopping behaviors and preferences confirms that sustainability is a top priority for consumers when shopping.
The report, “Inside the mind of an online shopperis based on a survey of 6,000 consumers in the US, UK and Germany and found that only 18% of respondents thought it was not important for a brand to present online information on its products in terms of sustainability or eco-practices. Combined with accurate product descriptions and product availability that exceeds any notion of brand loyalty, the report explores the essentials that retailers and product manufacturers should consider ahead of the Golden Quarter and consumer shopping season. Holidays.
Research is king for consumers
With the rising cost of living and ongoing supply chain issues, research is king during the buying process, with many consumers looking to compare and shop from multiple places to find the best deals. The report found that although a website provides all production information, 83% said they would look elsewhere.
Additionally, the results show that brands need to get it right the first time to increase their chances of making a sale. Almost three quarters (69%) of respondents will not purchase a product if the product description is wrong. On top of that, inaccurate online product descriptions have left nearly half (47%) of respondents feel frustrated and even 36% feel angry with a significant 86% admit to taking their belongings elsewhere.
Instant gratification versus returns
The need for “now” almost always exceeds brand loyalty, with two-thirds (62%) saying they would switch to a competing product if their first choice was out of stock, only 12% said they were unlikely to change stock.
Despite this need for immediate access to products when they want them, research suggests that the reasons why products need to be returned could also impact trust. The most common reasons for returns for respondents were product not as described (32%)followed by poor fit (21%) or being the bad article (12%).
Create the right digital impression
At a time when the online experience is critical to the purchasing decision, complete and accurate product information is the first opportunity to make a good impression. In reality, 81% agree that product information was essential or very important factor when making the purchase decision. And written descriptions are still considered the most important detail (39%), ranking ahead of images (25%), customer reviews and ratings (18%) and video (12%). Interestingly, this remained somewhat unchanged from last year’s survey, which reinforced the critical need for appropriate written information and content online.
“Brands are gearing up for the Golden Quarter and the most unpredictable holiday shopping season yet. Health issues, supply chain disruptions and rising cost of living are impacting trends consumption like never before,” said Niels Stenfeldt, CEO of inriver. “Our report highlights the need for brands to build a digital shelf that customers can rely on. This is true across industries, even B2B industries like manufacturing are seeing buyer behavior that now mirrors B2C trends. For companies looking to tap into these behaviors, the importance of better product data has never been clearer, not only for driving revenue and customer experience, but also for creating the product stories that really matter.
inriver’s Product Information Management (PIM) SaaS solution provides brands with a single source of product data truth, even in the most complex global value chains. With inriver’s digital shelf analytics capabilities, brands can automatically monitor all online touchpoints and gain the engagement insights and data-driven insights needed to make the right adjustments at the right time. on the correct channel. For more information, visit inriver.com.
To learn more about current consumer trends and how brands selling online can give customers exactly what they want, download inriver’s Inside the mind of an online shopper here.
This independent survey was conducted by OnePoll in June 2022 in the US, Germany and the UK. Information was collected from 6,000 online shoppers aged 18 and over in each region.
inriver enables organizations to deliver revenue-generating product information to every touchpoint. Inriver’s digital-first PIM™ empowers organizations to bring compelling product stories to life for highly personalized purchases, gain actionable insights into what influences purchase decisions, and then quickly adapt to put information in action. inriver helps B2B and B2C organizations turn product information into strategic assets to drive revenue for over 1,600 brands and 700 customers worldwide. Based in Malmö, Sweden, inriver has offices in Amsterdam, Chicago, Davao, London, Manila, Munich and Stockholm. For more information, please visit www.inriver.com.