50 Statistics About Retail Marketing and Consumer Shopping Trends.
Article Credits: V2 Retail, Jan. 2018.
Are you an omnichannel retailer? Consumers shop today across channels, both online and in brick-and-mortar locations. They price check from their phones, add items to their online carts only to head into a physical store to make a final purchase, and shop from tablets, phones, laptops, social channels, and physical store locations. While ecommerce is growing at staggering speeds, the importance of brick-and-mortar retail shouldn’t be ignored.
With so many changes in the world of retail and the ways consumers shop, here are 50 amazing statistics on the state of retail today.
1) More than half (54%) of retailers said the customer experience is their most important area of focus, way ahead of cross-channel marketing (16%), data-driven marketing (14%), mobile (11%), and programmatic buying/optimization (4%). (Adobe).
2) When asked about the extent to which digital permeates their marketing activities, 13% of retailers described themselves as “digital-first.” The majority are still primarily led by brick-and-mortar operations and traditional marketing activities. (Adobe).
3) One-third (33%) of retailers cited “targeting and personalization” among their top three tactical priorities for the year ahead, higher than for any other marketing tactic. (Adobe).
4) 51% of Americans prefer to shop online and 96% of Americans have made an online purchase in their life. (Big Commerce).
5) 67% of Millennials and 56% of Gen Xers prefer to shop on online rather than in-store. (Big Commerce).
6) 41% of Baby Boomers and 28% of Seniors will click to purchase. (Big Commerce).
7) Millennials and Gen Xers spend nearly 50% as much time shopping online each week (six hours) than their older counterparts (four hours). (Big Commerce).
8) 48% of millennials have shopped on marketplaces, 76% at large retailer sites, 46% on webstores or independent boutiques, and 29% at category-specific online stores. (Big Commerce).
9) 56% of Gen Xers have shopped on marketplaces, 76% at large retailer sites, 49% on webstores or independent boutiques, and 37% at category-specific online stores. (Big Commerce).
10) 59% of Baby Boomers have shopped on marketplaces, 74% at large retailer sites, 42% on webstores or independent boutiques, and 39% at category-specific online stores. (Big Commerce).
11) 51% of Seniors have shopped on marketplaces, 66% at large retailer sites, 30% on webstores or independent boutiques, and 44% at category-specific online stores. (Big Commerce).
12) 73% of consumers are more likely to purchase a product or service if they can watch a video explaining it beforehand. (Animoto).
13) 42% of online shoppers want more testimonials from ecommerce sites. (Big Commerce).
14) 75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, OR knows their purchase history. (Accenture).
15) 63% of consumers said they’d think more positively of a brand if it gave them content that was more valuable, interesting or relevant. (Rapt Media).
16) 53% of buyers say Facebook informs their purchase decisions. (VWO).
17) 42% of online customers find recommendations from friends and family influential. (Big Commerce).
18) 74% shoppers are unlikely to share a product on social network after purchase. (VWO).
19) Over 60% of consumers take the time to review a return policy before making a buying decision. (ReadyCloud).
20) Email marketing accounts for 20 percent of traffic driving ecommerce sales. (Wolfgang Digital).
21) 23% is the online shopping cart abandonment rate on average. (Baymard Institute).
22) The top reason for cart abandonment is extra high costs (61%). (Baymard Institute) Chart – courtesy of Fit Small Business.
23) Mobile sessions account for 59 percent of all sessions on ecommerce sites. (Smart Insights).
24) Offering free delivery encourages 9 out of 10 users to purchase. (Walker Sands Communication).
25) 49% cite not being able to touch, feel or try a product as one of their least favorite aspects of online shopping. (Big Commerce).
26) 21% of Americans state that unattractive or hard-to-navigate websites is frustrating when buying online. Big Commerce).
27) 48% of consumers start mobile research with a search engine –but 33% go directly to the site they want. (Smart Insights).
28) Google says 61% of users are unlikely to return to a mobile site they had trouble accessing and 40% visit a competitor’s site instead. (MicKinsey & Company).
29) Tablets account for the highest add-to-cart rates on eCommerce websites at 8.58%. (Smart Insights).
30) 88% of consumers who search for a type of local business on a mobile device call or go to that business within 24 hours. (Nectafy).
31) Mobile offers are redeemed 10x more frequently than print offers. (eMarketer).
32) The top three traffic sources driving sales for eCommerce are organic (22%), email (20%) and CPC (19%), with display and social accounting for just 1% and 2% respectively. (SocialMedia Today).
33) 52 percent of consumers cited at least one offline channel as a source of initial awareness before a purchase, and 59 percent cited one or more online channels. (KPMG).
34) Retail websites or online shops were the most common source of initial product awareness, cited by nearly a third of consumers, and online advertisements were cited by 15 percent. At the same time, physical shops were the second most popular source of awareness, cited by 22 percent of consumers. (KPMG).
35) After websites, shops or online advertising, the most common sources of product awareness were online reviews (cited by 15 percent), talking with friends (15 percent), social media (13 percent) or seeing a friend with it (12 percent). (KPMG).
36) Around 30 percent of online consumers said they posted product feedback online. (KPMG).
37) Currently, consumers are most likely to post directly to seller websites. (KPMG).
38) The top reason consumers shop online is the ability to shop 24/7 (KPMG).
39) The top reason consumers prefer to shop instore versus online is to see, feel and experience the product in person. (KPMG).
40) Only 23 percent of consumers said they prefer visiting shops to enjoy the shopping experience. (KPMG).
41) Having the most competitive price won’t guarantee a sale. Although price was cited by 57 percent of consumers as a top factor in deciding which website to buy from, the next key attributes were enhanced delivery options and easy return policies. (KPMG).
42) Millennials have a much higher demand for instant gratification than older generations. Although younger consumers are increasingly comfortable with buying products online without seeing them first, they are almost twice as likely to say they’d rather visit shops to get their product right away, rather than buy online and await delivery. (KPMG).
43) The top trait that drives customer loyalty for online consumers is an exceptional customer experience. (KPMG).
44) Parents spend more of their budget online in comparison to non-parents (40% vs. 34%) and spend 75% more time online shopping each week (7 hours vs. 4 hours for non-parents). Parents spend 61% more online than non-parents ($1,071 vs. $664). (Big Commerce).
45) Men reported spending 28% more online than women. (Big Commerce).
46) Female respondents cited that they enjoy online shopping (51% vs. 37% of male respondents), invest more time (60% vs. 46% for male counterparts) to find the best deals and often search for coupon codes to get discounts (48% vs. 29% for males). (Big Commerce).
47) 29% of online shoppers would be likely to follow a brand on Facebook; 21% of online shoppers would be likely to follow a brand on Pinterest; 21% of online shoppers would be likely to follow a brand on Instagram; 18% of online shoppers would be likely to follow a brand on Twitter; and 13% of online shoppers would be likely to follow a brand on Snapchat. (Big Commerce).
48) 64% consumers want personalized offers from retail brands. (Salesforce).
49) 56% consumers willing to share data to receive faster and more convenient service. (Salesforce).
50) 95% of Americans shop online at least yearly, 80% of Americans shop online at least monthly, 30% of Americans shop online at least weekly, 5% of Americans shop online daily. (Big Commerce).