The Importance Of Online Research In The Retail Consumer Journey
eCommerce spending is expected to reach £36 billion in 2023, which is a projected 20% increase from 2022. This growth is due to the increase in online shopping habits among consumers, as reported by eMarketer.
This a clear indication that consumers are rapidly shifting towards online channels. To break that down further, its reported the majority of consumers, about 81%, begin their shopping journey by conducting online research before making a purchase. (source GE Capital Retail Bank.)
This means that it's crucial for businesses to have a strong online presence and a well-optimised website to attract potential customers.
Marketing strategies like SEO, enable businesses to increase their visibility on search engines and ensure that their website appears on the first page of search results when consumers search for products or services. The result, increased traffic to the website and a higher likelihood of converting visitors into paying customers. Across almost all retail verticals, search engines are the most commonly used platform for conducting research. This is a great opportunity and also important for businesses to provide useful and relevant information on their website that can help consumers make informed purchasing decisions. This can include detailed product descriptions, customer reviews, and comparison guides.
Furthermore 77% of shoppers use mobile devices to search for products. (Source Salsify.) Optimise your online presence, provide potential customers with a seamless mobile experience. This includes creating mobile-friendly websites, easy-to-use navigation, and fast load times. Capture the attention of potential customers and guide them through their buying journey.
A strong online presence, creates opportunities to raise your brand awareness and authority - In 2023, it is projected that retailers will spend over £50 billion on digital ads, marking a 50% increase from 2020.
As the projected increase in digital ad spending indicates, online channels are becoming an increasingly important way for retailers to reach consumers. Having a strong online presence can help you to raise your brand awareness and authority in the marketplace. Engage with your target audience where they are already spending much of their time!
Click here to apply for a free SEO audit and find out more about increasing your existing packages.
P.s. Here our some of our favourite e-commerce statistics:
93% of consumers consider visual appearance to be the key deciding factor in a purchasing decision.
Customer purchases increase by 45% when forced registration is removed from the checkout page.
56% of consumers abandon carts when presented with unexpected costs.
68% of online shoppers engage with Live Chat. Engaged customers are 7 times more like to respond to brands promotional offers.68% of consumers strongly believe that vouchers have a positive impact on a retailer’s brand.
Orders with free shipping average around 30% higher order value.
93% of online shoppers like to shop at small and local retailers.
40% of shoppers prefer receiving discounts over loyalty program points.
Adding testimonials to a website increases conversion by 34%.