As part of our new state of the industry series, we’ll be gathering the latest trends and insights in retail, and summarising the data as key stats that marketers can digest easily and quickly. Our September edition covers everything from consumer behaviour, online buying patterns, how purchases are being influenced, the role of mobile, and how retailers are tackling current challenges and opportunities.
The retail sector has been hard hit this year, however, as we approach the all-important sales periods that are Black Friday, Cyber Monday, and Christmas, it’s important that marketers are aware of the latest trends that are defining how customers are interacting with brands online and forming their purchase decisions. Here are some of the findings in our report:
- 54% of retailers noted customer experience as a top priority for the year to come, way ahead of cross-channel marketing (16%), data-driven marketing (14%), mobile (11%), and programmatic buying or optimisation (4%)
- 23% of online shoppers are influenced by social media recommendations
- 42% online customers find recommendations from friends and family influential
- Millennials now make 54% of their purchases online
- Nearly two-thirds of online shoppers state they would like to receive products within a matter of hours after ordering. However, less than 33% are willing to pay extra for faster delivery
- Users who have a negative experience on a mobile site are 62% less likely to purchase from the same brand in the future
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