Yotpo, the leading eCommerce marketing platform, has released new data detailing the latest trends in consumer purchase behavior, from discovery to purchase, in the lead up to 2020 holiday shopping season.
A selection of the findings, representing a recent survey of 2000 respondents ages 18+, are published in Yotpo’s “How Shopper Behavior Is Changing” with regional data from the United States and the United Kingdom. The report outlines opportunities and strategies for eCommerce businesses as the COVID-19 pandemic ensues.
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Survey highlights include:
- Discovery: When asked where they found a new brand or product, 60% say smartphones, compared to 30% in a retail store.
- Method: 53% are purchasing digitally, with smartphone purchases leading in-store purchases 38% to 33% respectively. 63% plan to do most of their holiday shopping online this year. When it comes to Black Friday, 40% say they’re only interested in the shopping event if they can shop online.
- Reasons for Purchase: 47% say it was a brand’s competitive prices that were important to them, followed by fast, free shipping motivating 30% of shoppers. A majority 61% of consumers admit to adding products to their shopping cart to hit a free shipping minimum.
- Timing: By the time Black Friday rolls around 58% will have already started their holiday shopping, some (20%) as early as August. Why? 34% just aren’t interested in Black Friday this year, at all (21%) or because it won’t be a major in-store shopping event (13%). Only 16% plan to start shopping on Black Friday.
- Fringe Benefits: While shopping at a retailer is a motivator for 25% of shoppers who want to “get many items in one place,” 68% of consumers said they would prefer to shop directly from brands for discounts, coupons, or points toward their next purchase.
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“The major paradox of 2020 is that the more stuck at home we are, the more ‘mobile’ we’re becoming. Not only is eCommerce overall accelerating, so are smartphone-centric experiences. Brands need to make that mental shift to mobile-first marketing and shopping fast, or they’ll miss the boat on what’s probably going to be the biggest holiday season ever for eCommerce,” said Tracy Strauss, VP Marketing, Yotpo.
Yotpo’s “How Shopper Behaviors Are Changing” (US & UK) outlines key strategies and examples from the direct-to-consumer efforts of brands like Princess Polly, VERB, and Kendra Scott that focus on mobile marketing and commerce, from brand accounts on TikTok to syndicating user-generated content, to SEO and Google Shopping tactics, to bridging the online-offline shopping gap through new point-of-sale (POS) capabilities.
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