Understanding the Modern Customer in 2017
We’ve compiled the top 5 e-commerce trends to help you understand how Referboard can tailer the most effective online customer experience within your business. Read below to understand just how the modern customer shops online and ensure your business is capitalising on digital sale channels!
1. Generational Shopping
Not surprisingly, 67% of Millennials and 56% of Gen Xers choose online shopping over in-store purchases, spending around 6 hours each week shopping online. Online shopping is not, however, limited to the younger generations. Statistics show 28% of seniors actively shop online, averaging at least 2.5 hours per week. The baby boomers are of course, no exception, with 41% spending 4 hours per week shopping online. Referboard features a diverse range of retailers, such as Cotton on and Estee Lauder, which appeal to this generational diversity and leave shoppers confident when re-visiting the site.
2. User Location
Interestingly, research shows residents with easy access to large metropolitan shopping centres are not necessarily enticed to go and physically shop there. Instead, these customers actually spend more annually online shopping ($853) than those in rural areas do ($684). So, if users are shopping without actually entering the st
ore, where are they? Statistics shows 43% are merely in bed, while 23% are at the office. In fact, millennials and Gen Xers are 5 times more likely to actually make a purchase from the bathroom! It’s not hard to see the power online shopping can have on your business. Referboard allows retailers to garner as much exposure as possible, without having to spend extensive amounts on constant marketing campaigns.
3. Types of Channels
Statistics show the highest products in demand online are clothing, shoes, health and beauty products. The Iconic, one of Referboard’s largest retailers, is Australia’s number one online fashion website. The Iconic boasts 10 million unique visitors monthly and holds an astonishing 10% share in Australia’s online fashion market. Similarly, fellow Referboard retailer ‘Adore Beauty’ received an online revenue of $15 million in 2016. Both retailers have joined Referboard to capitalise on the growing trends of online shopping, particularly fashion and beauty, while gathering valuable marketing information about those shopping their products.
2016 statistics show men spend 28% more than females whilst shopping online, both of which doing so on average 5 hours per week. Retailers such as Adidas, Athletes Foot and Topman, to name a few, have joined with Referboard to successfully market towards the male population. Males are more likely to search by product, while woman more frequently search by brand. Referboard allows users to search by product or brand and by exposed to an array of not only fashion, but technology, interior and even pet items!
5. Incentives and Referrals
Studies show there are many influencing factors impeding a users decision to purchase. 42% of online customers are positively influenced by friend and family recommendations. Referboard is based purely on this notion, purchase products referred from individuals you trust. Secondly, 71% of shoppers are more likely to purchase if an incentive involved. Referboard’s differs from other platforms, in which users actually have the incentive to promote their boards and therefore your brand, in order to gain commissions.
Never underestimate the importance of online shopping, head over to referboard.com and join our growing list of retailers!