Some factual information about online shopping

Some factual information about online shopping

With an expanding-commerce, which is catering to the worldwide customers now, it has now become extremely easy to buy anything from any corner of the world. The online shopping carts make it convenient for the shoppers to buy their heart favorite goods and products. But the question about these online shopping outlets arises is; what makes them popular and why? These are definitely significant questions about the $231 billion e-commerce industry which still represents just a small fraction of the whole retail space. Though e-commerce industry is growing, but what things need to be inculcated in the online shopping business to make it compete with the retail business,  is the question which needs answer. To answer some of such questions, I present to the audience an info graphic by Walker Sands. This info graphic present the results of the study recently conducted on the Future of Retail.



Here is a detailed description of the info graphic for your insight and understanding.

• How often the customers shop online?  During the study the consumers were asked this question. The highest percentage of consumers which admitted that they do online shopping 1-2 times at least during a month. Overall, 62 % of the consumer said that they do online shopping at least once a month which is definitely a good percentage. The interest of the consumers in online shopping stores is still on the rise. As compared to the previous year statistics, there has been a significant rise in shopping on the online shopping stores, this year.
• How much a consumer would spend on the product purchasing it online without viewing it first?  45 % of the consumers claimed to spend $100 t0 $500 while 16% admitted to spend $501 to $1000 and 10% said that they would be willing to spend more than $1000. If the online shopping store is offering free shipping and returns policy, consumers are likely to spend more sums of money on online shopping as clear from the info graphic that 29% would be willing to spend more than $1000. This makes it clear that free shipping and return policies of the online shopping stores considerably affect their sales volume and consumers purchase from their store.
• What are the factors which make the consumers more likely to buy product from online shopping store?  On top of the list is an option of free shipping. 80% consumers admitted that they are more likely to buy from the store offering free shipping. This is because shipping costs increase the price of the product and consumers might not be able to buy their favorite product just because of shipping costs. Online shopping stores can boost their sales tremendously, if they waiver their shipping costs. The second factor which effects the purchasing decision of the customers is the one-day shipping following that is free returns and exchange policy. After that comes the other factors which are more or less on the same percentage such as confidence about payment security, easier online returns, multiple versions shipped at the same time etc. By combining all these factors, an online shopping store can increase its sales, massively.
• What consumers would never like to buy from Amazon.com? Amazon is an online shopping  giant, beyond doubt. It offers massive selection of products and merchandises which are probably not offered by other similar stores. Majority of the online shoppers prefer to do shopping from Amazon. 95% of the consumer shopped from Amazon in the last year and 4 out of 10 claimed to buy anything from the online shopping stores. This said a lot about online shopping. People prefer to buy from online shopping stores which are credible, popular and have well-established online repute like Amazon.com.
• What products consumers would not buy from Amazon? The first things which consumers will not buy from Amazon.com are the food items. Probably this is due to the reason that food items can purchased from the local food websites at cheaper rates than buying them from Amazon. Then follow the luxury goods which people will not buy. The third on the list are the consumer packaged goods. Pet supplies follow them.  Check out the info graphic for rest of the categories.

Online shopping is, beyond doubt one of the easiest and most convenient way of shopping, now days. Consumers need to decide on their shopping preferences and online shopping stores need to review their policies and services to attract more and more potential consumers. The presented info graphic will help both the consumers and the online sellers to review their strategies.