Consumer Behavior
ChannelX: eBay UK Partners With Reskinned to Expand Sustainable Fashion
The new partnership not only represents an expansion of eBay's sustainable offerings, but also connects Reskinned to a bigger marketplace of over 20 million shoppers through a "brand approved" shopfront.
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Top Customer Retention Strategies for 2022
We have compiled a list of the best customer retention strategies that e-commerce companies nowadays are using to inspire customer loyalty.
Sep 13, 2022
Tech Spotlight: Simplifying Marketplace Integration With ChannelEngine
As part of the Tech Spotlight series, Parcel Monitor features ChannelEngine, a leading e-commerce solution that connects multiple marketplaces.
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Retail Dive: American Express Launches B2B Cross-Border Payment Solution for US Small Businesses
American Express Global Pay helps small business owners in the United States to reduce the risk of common errors and delays with fields that dynamically update based on the country of payment.
Sep 09, 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.
Sep 06, 2022
E-Commerce Logistics Race in Southeast Asia: Which Country Performed the Best in Q1 2022?
Which country in Southeast Asia performed the best in this e-commerce logistics race for the first quarter of 2022? Indonesia, Singapore, Thailand, or Malaysia? Find out here!
Sep 01, 2022
TechCrunch: Meta Partners With Jio to Launch Grocery Shopping for Indian Whatsapp Users
Meta is bringing the first ever end-to-end shopping experience to Whatsapp for Indian customers, following the latest deal with an e-commerce venture between India’s Reliance Retail and Jio Platforms.
Aug 31, 2022
Funding Roundup: Lily AI, Superkul, Omnibiz and Others Close Early-Stage Deals
In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements.
Aug 26, 2022
Post & Parcel: DHL Paket to Launch Two New Shipping Options for Business Customers
DHL Paket is offering its business customers two new shipping options, namely “Closest Droppoint” and “Postal Delivered Duty Paid service” (Postal DDP).
Aug 26, 2022
Get Ahead of the Curve: Preparing for Peak Season 2022
We have compiled a list of some important lessons we learned from the most recent peak season that may be helpful to both e-commerce sellers and consumers.
Aug 23, 2022
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Leaders in Logistics: North America 2022
Sep 26 - 27, 2022 | Marriott Crystal Gateway, Arlington VA
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eCommerce Expo UK 2022
Sep 28 - 29, 2022 | Excel London
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Sep 29 - 30, 2022 | Jacob K. Javits Convention Center
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Oct 03, 2022 | Twickenham Stadium, London
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Makers & Movers: The CHAIN
Oct 04, 2022 | Online
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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.
