Consumer Behavior
What Southeast Asian Consumers Want This Peak Season
Where are Southeast Asian consumers planning to shop this holiday season? What are the top factors influencing where they shop from? Find out in this Parcel Monitor article done in collaboration with Rakuten Insight!
Nov 29, 2022
Alcott Global Podcast: Succeed in the E-Commerce Market Through Innovative Solutions
Leaders in Tech & E-commerce Podcast: Fei Yu, Managing Director, Europe of Alcott Global interviewed Terry Chan, Founder & CEO of JUSTT GROUP.
Nov 27, 2022
Supply Chain Dive: Target Debuts Larger Store Format to Focus on E-Commerce Fulfillment
Target unveils a new store concept that allows for same-day fulfillment and omnichannel services such as Order PickUp and Drive Up.
Nov 25, 2022
How Leading Carriers & Retailers Are Preparing for Peak Season 2022
Find out how leaders from Ninja Van Group, LUXASIA, Janio Asia and Ace Hardware Corporation are preparing for peak season 2022.
Nov 24, 2022
Guest Post: How to Create an Online Store in 8 Easy Steps
From setting up your domain name and hosting account to choosing which platform is best for selling products, this article covers everything you should know about creating an e-commerce store.
Nov 24, 2022
A Customer-Centric Approach to Retail Strategies With Hoobil8
Learn from DeAnn Campbell, a leading Strategy and Insights expert for the retail industry, as she covers the secret to creating a customer-centric approach to retail strategies.
Nov 23, 2022
Alcott Global Podcast: Improving Customers’ Supply Chain
Leaders in Tech & E-commerce Podcast: Rushit Shah, Regional Director - Asia Pacific & North America of Alcott Global interviewed Simon Borg, Group CEO & Co-Founder of Navia.
Nov 21, 2022
Funding Roundup: Exceptional Wins for Attabotics, Beam, Ofload and Others
Explore what 6 of these amazing startups in the e-commerce, logistics and supply chain space have achieved in the past week: GoFreight, Ofload, Attabotics, Pickle Robot Company, Beam and Dema.ai.
Nov 18, 2022
Streamlining E-Commerce Operations With ChannelEngine
Learn from Jorrit Steinz – the CEO and Founder of ChannelEngine – about streamlining e-commerce operations.
Nov 17, 2022
EY and Shopify Team Up to Help Enterprises Deliver E-Commerce Services
EY teams and Shopify aim to help enterprises activate and scale e-commerce businesses to increase the potential of online commerce and support the sale of regulated products.
Nov 16, 2022
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What Southeast Asian Consumers Want This Peak Season
Nov 29, 2022
TechCrunch: E-Commerce Hits Record $9.12B for Black Friday 2022 and $5.33B for Thanksgiving
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Alcott Global Podcast: Succeed in the E-Commerce Market Through Innovative Solutions
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Nov 25, 2022
How Leading Carriers & Retailers Are Preparing for Peak Season 2022
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Guest Post: How to Create an Online Store in 8 Easy Steps
Nov 24, 2022
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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.
