Christmas 2020: Invest in e-Commerce
The COVID-19 pandemic has had dramatic effects on the retail sector, accelerating the growth of online shopping at a phenomenal rate. Results of a new trends report, based on a study carried out by Bazaarvoice, show that ecommerce retailers need to 'speed up their online efforts ahead of the festive ecommerce frenzy'.
After analysing its network of over 6,000 brands and retailers, Bazaarvoice confidently predicted that:
- Online Shopping will Continue to Accelerate. Each month of lockdown has seen 'significant growth' in online shopping, in terms of both order counts and page views. A massive 85% of retailers believe that online sales will increase during this year's festive season as compared to 2019: this has resulted in more than 55% of those retailers planning to invest more in their ecommerce websites and strategies.
- Online Shoppers will Seek Out Sales. Though Cyber Monday and Black Friday are peak times for Christmas shopping, the fact is that the whole month of November sees highly-elevated order counts and page views. The vast majority of shoppers surveyed said that they will be looking out for deals online, with 86.8% 'considering their finances more carefully' as a result of COVID-19.
- User-Generated Content (UGC) to be Critical. August and September have the highest rates of UGC interaction, as online shoppers research gifts by engaging with things like customer reviews. This rate begins to decrease after September as shoppers commit to purchasing decisions. Online retailers need to seriously consider their UGC strategies before this time.
- Customers want Answers. The recent spike in online shopping has obviously increased the number of customer questions but Bazaarvoice's study has shown that this trend was also prevalent in October of 2019. With 48% of online shoppers saying that a retailer which responds to questions 'improves the odds of purchasing' a product, it's crucial that you are there for your customers. This doesn't mean that you have to be present 24 hours a day, as improving AI technology can be there for you.
Brick technology is an expert, well-established provider of world class ecommerce solutions, including our unique and powerful Brick Factory with AI. The time to invest in your ecommerce strategy is NOW, if you want to take advantage of the 'festive frenzy' that is already gearing up.
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