Consumer Behavior
Harnessing Consumer Psychology: Top Retail Strategies to Maximize Sales This Peak Season
Unlock the secrets of consumer psychology and discover top retail strategies to supercharge your sales during peak seasons. Explore emotional branding, dynamic pricing, personalization, and more.
Sep 14, 2023
TikTok Launches TikTok Shop in the United States
This allows 150 million U.S. users to shop via shoppable videos and live streams and provides businesses with tools to create custom product collections and manage orders within one tab.
Sep 13, 2023
5 Biggest Consumer Behavior Trends in Southeast Asia
Explore the latest consumer trends in Southeast Asia, ranging from the increasing emphasis on sustainability practices to the growing significance of customer service.
Sep 12, 2023
eBay Unveils a New AI Tool That Generates Product Listings From Photos
eBay's innovative listing tool harnesses the power of artificial intelligence to extract listing details directly from images.
Sep 12, 2023
Funding Roundup: ScrapUncle, India Index, ShipEase and Others Garner Fresh Financial Injection
It has been an outstanding week for startups in the e-commerce, logistics and supply chain space. Check out 6 of their amazing achievements: ScrapUncle, Markato, India Index, ShipEase, ZEVO and Praso.
Sep 08, 2023
Meta & Bain: The Evolution of Digital Adoption by Southeast Asian Consumers
Check out our key findings from Meta and Bain & Company's latest report covering the evolution of digital adoption by consumers in Southeast Asia.
Sep 07, 2023
Estée Lauder and Google Cloud Partner to Enhance Consumer Experience through Generative AI
The Estée Lauder Companies and Google Cloud are leveraging AI to redefine online consumer experiences and set new standards for beauty retail.
Sep 06, 2023
Amazon Announces Integration of Buy With Prime App for Shopify Merchants
Amazon and Shopify join forces to simplify online shopping with the Buy with Prime app. Discover how this innovative integration enhances the customer experience, streamlines merchant operations, and expands shopping choices.
Sep 05, 2023
Funding Roundup: Zepto, Pickaboo, 13SQFT.com and Others Gain Recent Funding Boost
It has been an outstanding week for startups in the e-commerce, logistics and supply chain space. Check out 6 of their amazing achievements: Zepto, Pickaboo, 16SQFT.com, Devolut, Starcart and Samplify.
Sep 01, 2023
Shein Announces Strategic Partnership With SPARC Group
Explore how this strategic alliance merges e-commerce prowess with retail expertise, promising innovative products and enhanced customer experiences for fashion enthusiasts worldwide.
Aug 30, 2023
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Shift in Consumer Shopping Behavior
Shift to Online Shopping
The worldwide pandemic accelerated digitization and e-commerce growth, leading to a shift in consumer shopping behavior in recent months. So how has consumer shopping behavior changed? Specifically, more consumers are turning to online stores rather than conventional retail establishments. For instance, due to the impact of Covid-19 on consumer shopping behavior, people in Southeast Asia were migrating online for food delivery and supplies. Businesses similarly switched their operations online in order to reach out to customers who made a shift in buying behavior after physical stores were forced to close. Nevertheless, with the world returning to a ‘new normal’, retail and ecommerce businesses should adopt an omnichannel strategy to capture consumers regardless of channel.
Factors Affecting Consumer Shopping Behavior
There are three factors that influence consumer shopping behavior, which assist in understanding consumer behavior. They include research, recommendations and reviews, and returns. The first one is research. Buyers are increasingly conducting their own “research” before visiting a retailer’s location or website to buy a product. Next, recommendations and reviews have a significant impact on consumer shopping behavior. As a first step in acquiring preliminary information about an item or service, customers prefer to go online to read user feedback and expert reviews. As a result, merchant-sponsored information—including retailer blogs, advertising, user guides, and so on—is losing ground to user-generated reviews and content as the primary influences of purchase decisions. The last factor is returns, which have become an accepted part of both the buying process and business. Many reasons may cause returns, such as consumer dissatisfaction, consumer’s remorse, and at times due to buyers not examining the product carefully before purchasing products.
Consumer Shopping Habits Post-pandemic
Because of the impact of Covid-19, online shopping has become one of the most prominent consumer shopping behavior trends. That being said, in-store shopping still remains relevant.Surveys have shown that consumers plan to mix in-store and online shopping. Moreover, consumers are discovering new e-commerce delivery methods such as curbside pickup or collection points delivery. We believe these shifts in consumer shopping behavior are likely to persist even after Covid.
Types of Consumer Shopping Behavior
The first is complex buying behavior, which is used when purchasing a product that is expensive, rarely purchased, high in risk, self-expressive, and a one-time investment. Thus, the consumer has to spend a long time examining the alternatives, form beliefs and attitudes about the product, and then decide to buy and invest. The second type of consumer shopping behavior is dissonance reducing purchasing behavior. Such behavior is primarily concerned with eliminating post-buy dissonance as a result of past purchase unhappiness. The third type is habitual buying behavior. This behavior is often observed if the product is inexpensive and purchased regularly Finally, variety seeking buying behavior is seen if a consumer shifts between brands not because they were dissatisfied with their prior purchase, but because they want to try out something new or different.
