Convenience is at the heart of e-commerce. It’s one of the main reasons that online shopping has exploded in popularity in recent years. Shopping online allows you to purchase goods when and where it is convenient for you. You can use a payment system of your choosing, and have your item shipped in a convenient manner. In recent times influence of convenience on eCommerce growth has peaked. Everyone is staying in our homes in the current times. In order to avoid human to human contact everyone is making purchases online. This has significantly increases the eCommerce growth rate which also provides convenience of shopping within our homes.
As the National Retail Federation’s new research reveals, convenience is changing the way people shop. Also, eCommerce growth projections claim that the eCommerce industry would achieve a new peak. When it comes to showcasing their proposition, eCommerce brands must remember more than the quality & price of goods they sell.
Inconvenience Makes People to Abandon their Cart:
When it comes to the most major elements for consumers when shopping online, quality of the product (32%) and value for money (30%) are the most influential factors, with just 13% saying convenience is important. This isn’t mirrored in overall buying preferences. 97 percent of customers claim they’ve backed out of a purchase due to inconvenient circumstances.
Although convenience may not be a major factor in the initial purchasing decision. If the process of checking out and receiving the product is inconvenient, buyer most likely abandon the cart.
To ensure that customers migrate, brands should ensure that their online shopping experience is customer-centric. They have easy choices that customers want, like in a day delivery, leaving products in neighbour’s place, or store pickup.
Influence of Convenience: Key Factor Now Than Ever:
With that kind of choice both online and on the high street, customers are searching for something unique to differentiate brands. With 83 percent of consumers saying that influence of convenience in online shopping is more relevant now than it was five years ago, convenience may be the answer. Making customers convenient will attract customers towards eCommerce industries forever. Thus, influencing buyers’ purchase decision process.
This is shocking, given that more than a third of customers claim they are busier now than five years ago. Due to commuting, work, education, and family obligations and mainly due to COVID-19 pandemic, shopping must be done whenever possible – which always means shopping at your place. As a result, customers are looking for dealers that can help them save time. And if this continues, the eCommerce market’s growth rate will be inevitable.
Comfort is Making People to Spend Some Extra Bucks:
Despite the fact that customers said quality and value for money were the most important considerations when making a purchase, 52 percent said convenience affected half or more of their purchases. Shoppers no longer have the luxury of spending hours picking up food or a day shopping for an outfit. Due to a lack of time, comfort has taken precedence.
With the rise in popularity of delivery services like Amazon Prime, customers are likely to pay for luxury of comfort. Currently, 66% of customers pay for a delivery service, with 25% paying for yet more than one, demonstrating that retailers will profit from providing the concept of convenience. According to the eCommerce growth forecast, the eCommerce industry will become a need for everyone which will eventually increase the industry’s growth.
Convenience Plays a Major Role in Some Industries:
Although convenience is important across e-commerce, it is even more important in certain industries. To be worthwhile, purchases that people make on a more frequent basis, such as groceries and personal care, must have a higher degree of convenience. For other transactions, though, influence of convenience is still valued, and customers are willing to pay for it.
When it comes to grocery shopping, 63 percent say convenience is very necessary, and 66 percent say they are willing to pay more to make their purchase more convenient. These customers will help in particular eCommerce business’s growth. This can range from selecting a delivery or pick-up time to receiving an update about which goods are unavailable or have been substituted.
Clothing is the next form of purchase where everyone value convenience, with 47 percent of customers agreeing and 61 percent willing to pay a premium for convenience. Options such as online sizing, multiple delivery options, and free returns all contribute to the best possible consumer experience.
Electronic equipment (42%), personal care products (41%), and pet supplements (41%) are other forms of transactions where convenience is valued, with 59 percent, 58 percent, and 58 percent, respectively, indicating they would pay more for more convenient facilities while making these purchases.
Convenience is of Different Types:
Convenience, of course, isn’t a one-size-fits-all proposition. Depending on what they’re purchasing, how they’re shopping, where they are in the purchase process, and personal preference, each customer will have a different definition of convenience.
When it comes to convenience, the opportunity to shop online and pick up in-store is a huge plus (BOPIS). The vast majority of customers (70%) believe that this alternative has enhanced their shopping experience.
The most common BOPIS alternative is picking up an item purchased online at a brick-and-mortar store’s register. With 78 percent saying they already done so and 88 percent saying they have interest in doing just that.
While such options increase the convenience you have, you must consider them during the buying process. This is to ensure that you address any potential pain points. It’s also important to note that when people buy online or in-store, the route to purchase – and therefore where they want convenience – differs.
When it comes to online shopping, there is a clear evidence of influence of convenience on buyers decisions. Nearly 38 percent of customers say convenience is vital right at the start because it makes product testing easier. Some 20% believe it is necessary right before they make a purchase, while 18% want it at the checkout, and 23% want it after they have made a purchase.
In-store shoppers, on the other hand, want convenience at the checkout (40 percent). Just 16 percent want it right away, 25 percent before making a purchase, and 18 percent after they have made a purchase. This demonstrates the significant differences between online and offline shopping preferences and requirements.
Convenience is an important aspect of the consumer experience. It should be prioritize in the retail brand’s tactics and plans, both online and offline stores. In a world where time is limited and there are so many choices, beating rivals requires more than just price. So think about how you can make shopping with your brand as simple and convenient.