In a survey of nearly 3,000 consumers in both the U.S. and the U.K., e-commerce platform provider Kibo cited price, personalization and fulfillment as the “key influencers on the path to purchase.”
The firm’s Consumer Trends Report also showed a consumer preference for a “unified shopping and brand experience,” regardless of channel. For retailers and fashion apparel brands, using data and consumer insights can help inform on both product development and merchandising decisions.
Tushar Patel, chief marketing officer at Kibo, said, “As consumer behaviors, expectations and demands continue to rise, retailers and brands equipped with the latest data will be better prepared to win in the new year.”
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“In order to satisfy consumers with high expectations of a cohesive experience no matter the touchpoint, merchants need to do a holistic evaluation of their commerce programs,” Patel explained. “Knowing where to focus efforts will allow them to make changes that provide the biggest impact to customer satisfaction, loyalty, and ultimately the bottom line.”
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The findings from the survey noted in the Consumer Trends Report found a strong preference for “individualized” shopping experiences. “Personalizing a consumer’s experience can have a big impact on their path to purchase, with 85 percent [of respondents] stating they are influenced by personalized home page promotions and 92 percent stating personalized shopping cart recommendations influence them to complete a purchase,” researchers said in the report.
Pricing was also a key factor. Kibo said 76 percent of those polled price check competitors on a regular basis, which compares to 66 percent in last year’s survey. And 94 percent of respondents said they conduct online research prior to visiting a store, which is 8 percentage points higher than the year-ago survey.
In regard to fulfillment, 81 percent of those polled “said they have looked up inventory on a retailer’s web site before visiting the store and 80 percent are less inclined to visit a store if a web site does not provide current product availability [up 24 percent from last year].”
And when it comes to what influences the shopper’s path to online purchases, 92 percent of respondents cited interactive content, while 82 percent noted product reviews. Seventy-eight percent said they were influenced by a simplified shopping card, while 66 percent noted multiple fulfillment options.