If you’re curious about how the pandemic influenced the way that customers shop both in traditional stores and online stores and how consumer behavior has altered from 2020 to 2021, continue reading to discover exactly how consumer behavior changed from 2020 to 2021. Especially as by understanding how consumer behavior has changed in the past year, you’ll be able to make key business changes that will help your business stay competitive and thrive in your industry. Especially if you’re looking to increase your online sales for #2021Customers in the next year and to increase your market share.
How consumers buying behaviour has changed in 2020 to 2021:
The demand for online shopping has only increased:
While the global demand for online shopping skyrocketed in 2020 as a result of the pandemic, which kept much of the world in their homes for weeks or months on end, in 2021 online shopping has only become more popular. As once more individuals started to shop in 2020, they loved how convenient online shopping was and started to shop online more frequently. As a business owner, it’s important to ensure that your business has an attractive, functional website that will increase your chances of making as many sales as possible.
Younger customers are more likely to shop online than slightly older customers:
Younger customers aged between 16 and 34 are reported to be more likely to shop online, than those aged 35 and above who on average spend less time on the internet and as a result shop less frequently online. So if your business caters to youth and young adults, it’s well worth ensuring to invest a sizable amount of money into market research so that you’ll be able to market your online products and services to customers aged 16 and 34.
The average customer spends far more time researching potential purchases:
From 2020 to 2021 the time which the average customer spends online researching potential purchases has only increased. In fact in a recent survey a third of the respondents revealed that they usually spend between two to four hours researching potential purchases before making a final decision. As online shoppers and traditional shoppers are becoming more conscious shoppers and are less likely to purchase products on a whim, as a business it’s important to attract positive reviews on trusted third party review sites such as Google and TrustPilot. As potential customers are very likely to search for unbiased reviews on potential products or services that they are interested in purchasing from your business, before they place their online orders.
Customers priorities are value for money and a positive brand reputation:
Infographic created by Clover Network, a retail POS system provider
The two main things that customers look for when selecting businesses to shop with in person and online are businesses who offer value for money and boast a glowing trustworthy brand.
So if you want to move with the times and to provide your customers with the key factors that they are searching for in a business as their preferences change, it’s well worth paying attention to the content listed above!