Consumers just don’t shop the way they used to. When Amazon launched publicly in 1995, online shopping was a bit of a fad. These days, most everyday purchases include an online component.
This behavior is even more pronounced during the holiday season. And since it’s the most profitable time of the year, you need to be ready.
See our infographic below to see the holiday shopping trends you need to be aware of, relating to consumer behavior, consumer motivations, predictions for the holidays, and shopping cart abandonment.
When you’re done, check out our deep dive into the results for tips on how you can prepare your ecommerce site for this year’s holiday shopping season and how Fiverr’s sellers can help you reduce shopping cart abandonment to make more sales.
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8 Quick Fixes You Can Do to Reduce Cart Abandonment
Now that you understand WHY customers abandon shopping carts, let’s directly look into the solutions.
And don’t worry, I know the holidays are just behind the corner but I’m speaking about easy fixes that with a Fiverr’s seller help you can quickly see implemented so you’re primed to make those holiday sales.
- Checkout process too long
- Unexpected Costs
- Poor Site Navigation
- Site Crashes and Errors
- Better Prices Elsewhere
- Lack of Product Details
It turns out, it’s not just offline that shoppers worry about complicated checkouts. Overall, there’s a 69% rate of online shopping cart abandonment, and, just like they do offline, 30% of online shoppers abandon their carts if the checkout process is overly long or complex.
When it comes to setting up your online shopping cart, you’ll want to keep the shopping experience simple to make more sales.
Unexpected costs are a deal breaker for 56% of shoppers, so it pays to be transparent about the cost of shipping and returns.
16% of shoppers abandon their carts because of poor site navigation. Bottom line, consumers want to know where they are on your site, and how to find anything they’re looking for.
While you’re at it, it’s worth getting expert help to periodically check and test your ecommerce website to make sure that it works smoothly. If you don’t, you lose business: 20% of shoppers abandon purchases because of site errors or crashes.
Last, but definitely not least, there’s the issue of price. Shoppers are always looking for a better deal. For 36% of shoppers, finding a better price elsewhere is reason enough to leave your site.
If you’re buying a product, you want to see exactly what you’re getting. It’s the same for your customers. Around two-thirds of shoppers leave your site if they can’t find the product information they need, or because the photos don’t give them a good enough idea of what the product is.
By now, you’ll get the picture that consumers want – and expect – their online shopping experience to be super convenient then shoppers are likely to come back for more, even if they didn’t like the first item they bought.
How Holiday Shopping is Changing
Now, let’s look at those infographic stats in more detail, and see what they mean for your ecommerce business. From the consumer viewpoint, the holidays are when the stores are busiest and most crowded. For many shoppers, that’s a good enough reason to stay away. In fact, 60% of adult Americans are absolutely delighted by the thought of beating the crowds by staying home.
That’s a plus even for those who normally enjoy a trip to the mall. No matter what they do during the rest of the year, 58% of US consumers change their shopping habits during the holidays. And one big change they make is to stay home and do their shopping online. That’s what 36% of online shoppers prefer to do, rather than shopping with family or friends.
The bottom line for ecommerce retailers: if you want your share of those holiday sales, you’d better offer a reliable online shopping experience.
Why Consumers Shop Differently in the Holidays
So, why exactly is consumer behavior changing? The stats reveal some of the answers.
Reduced Wait Times
Here’s the thing: people hate to wait. That’s why 52% of consumers believe online shopping is simply more convenient than going to a store. And who can blame them? Being able to make purchases from the comfort of home, and have them come straight to your door is a better bet for most people.
When you browse a physical store, it can take a long time to find the items you need. Shop online, and you can often use handy filters to select sizes, shapes, colors, and features, so you only see the items that meet your needs. So it’s no wonder that 64% of consumers see online shopping as a major time-saver. And that’s not the only advantage …
In the early days of online shopping, the lower overheads meant many stores offered better deals online. And, especially during the holidays, it’s still possible to score some sweet discounts. That’s what 71% of shoppers expect.
With the extra crowds in stores during the holidays, even the smallest purchase can result in a long queues. Nobody likes standing in line, and the longer people have to wait, the more frustrated they get.
For example, 11% of people will leave their shopping behind if the line is too long. And for 45% of shoppers, long waits and slow checkouts ruin the shopping experience, making them think twice about shopping in-store.
Knowing what turns in-store shoppers off can help the online retailer create a better experience, including:
- Free shipping and returns, as lack of free shipping can be a deal-breaker for some shoppers
- Quick and easy checkout
- Deals and discounts
Holiday Shopping 2018 Predictions
So what does this mean for online shopping these holidays and for the future? Here are some data-backed predictions for the 2018 holiday season:
- Expect most of your customers to buy their gifts online. In 2017, 76% of shoppers bought at least a quarter of their gifts online.
- As you know, the holiday season is the peak shopping period, so get your holiday promotions ready now. Around 72% of consumers plan to buy online this Thanksgiving. And the numbers for Black Friday and Cyber Monday are 64% and 57% respectively.
- Don’t let that lower percentage fool you. Expect Cyber Monday to be HUGE in terms of sales. It’s been the biggest sales day of the year for the last two years, with US$6.59 billion spent. And on Black Friday, online shoppers spent US$2.36 billion
The bottom line is you need to be ready to capture consumers’ attention online for this year’s holidays and all the holidays in the future.
But even after you get consumers to add an item to their carts, you still have to ensure they complete the purchase.