From the car to the comfort of your living room, customers can shop from anywhere at any time. The real question is, how does this affect your business?
Review & Comparison
The modern shopper is very savvy. Quick access to tools that help them make buying decisions are also affecting whether they choose your business or your competitors’. The majority of your customers are looking around to find reviews and compare prices:
- Pew Research Group found that 50% of people under the age of 50 consult online ratings and reviews when buying something for the first time.
- 65% of Americans indicate they compare prices in store versus online and choose the cheapest (Pew).
Have you ever blown a tire travelling? Or tried to find a restaurant you can walk to in an unfamiliar part of town? Online shopping isn’t limited to businesses that sell their products online anymore. Online searches for services ‘near me’ have been on the rise with improved navigation tracking on mobile devices. Google has found that 76% of people who search on their smart phones for something nearby visit the business within a day (Informatics Presentation).
Two words have changed the game with customer shopping behaviors: Amazon Prime. Even though Amazon loses an estimated $1-2 Billion annually on Amazon Prime shipping costs (HBR), it hasn’t stopped customers from expecting free shipping promotions. Before writing off free shipping as something that doesn’t fit into your business model, consider:
- 61.3%of people recently surveyed list having items shipped directly to their door is their number one reason for shopping online (FMTC)
- Roughly 1 in 4 customers order products they don’t want to get free shipping (Statista)
- The percent of customers stating they will pay nothing extra for next-day or same-day delivery is rising (Valuewalk)
- More than 78% of U.S. Amazon Prime Customers signed up for the loyalty program because of Free Shipping (Venitism)
Marketing doesn’t have ‘one size fits all’ solutions so your business needs a strong online presence. For expertise on how to launch and optimize campaigns in Social Media, Affiliate, and Search Engine Marketing contact Informatics today.