E-commerce continued to rise

The COVID-19 pandemic made the whole world to switch to contactless shopping and encouraged companies to faster develop e-commerce. Last year, 57% of all consumer retail spending was online. This year, this figure shows a modest increase to 58%. In 10 years, 64% of all consumer retail spending will be online, i.e. it will grow by about 1% every year.

E-comfort increased

In 2022, 72% of consumers said they were more comfortable using technology than a year ago. Now this figure is 68%. Although it’s lower than in 2022, it still indicates a high level of trust and proves that consumers feel increasingly comfortable using technology. 36% of respondents aged over 65 consider themselves ‘advanced’ and 77% of respondents aged 25 to 34 consider themselves ‘advanced’.

The most popular devices for online shopping

Smartphones (32%), laptops (17%) and PCs (16%) are the most common devices used for onlne shopping. However, if you add laptops to PCs, they will take the first place. This means that companies who want to create proper experiences and conversion opportunities for their consumers should apply a balanced focus on smartphone, PC and laptop users.

Offline stores were still popular

Despite the fact that popularity of online shopping is growing, physical stores still remain in demand. But there is a remarkable thing: the year before last, 60% of customers said they prefer those who have both offline and online stores. And in 2023, this figure remained unchanged. This is another proof that companies should develop multi-channel strategies.

Conclusion

Now retailers need to develop multi-channel strategies, focus not only on creating convenient mobile apps, but on usability of online stores.

Source: rau.ua