43% of Britons are giving up online payments at the last minute in favor of Amazon

43% of Britons are giving up online payments at the last minute in favor of Amazon

According to a study by We Global, 14% of consumers browse online stores every day without any intention of buying anything.

In addition, a report by e-commerce experts, which surveyed 2,000 UK consumers, found that while in the early stages of the research process, 37% of consumers add items to their cart to save for later, not necessarily for purchase.

The report shows that the missed sales opportunity for retailers lies in the research phase, which is usually longer for consumers who buy more expensive items, such as televisions, washing machines and designer cosmetics. More than a third (34%) of people spend a few days researching large items before buying, while 23% spend up to a few weeks. During this time, 31% of people will visit an average of three locations to compare their big shopping item before deciding where to buy.

As part of the comparison process, more than half (52%) of potential buyers will look at different product descriptions online, and 20% will go to the store to find out more, indicating that some Brits still want personal experience to gain confidence to shop. In the end, 34% of consumers will not buy products in the original online store where they discovered them, and many brands serve as a springboard.

The research highlights how retail brands are losing customers close to their destination, with many leaving their online shopping cart at the last minute to check if items are available in a competitor’s online store (44%) or on Amazon (43%) and finalize theirs instead.

Jack Wearne, CEO of Ve Global, said: “Brands are facing a growing challenge of turning researchers into customers. Many currently have no way of distinguishing between those who add items to their cart without any intention of buying, those in the early stages of research with a high propensity to buy, and those who are willing to buy. The task of the brand is to give customers the confidence to buy and buy from them. Instead of spending effort on those who will never convert, brands need to identify those who are willing to take the plunge and provide an experience that gives them the confidence to buy from them, not from Amazon. ”

Contrary to popular belief, chatbots do not reduce the problem when it comes to providing a good experience. In fact, research reveals that only 6% of consumers use chat options on websites. Wearne continues “the key problem with chatbots is that you have a man sending messages to the machine, and resentment often comes at the human end. Chatbots only increase the look of personalization and in the end are nothing but interactive frequently asked questions. ”

Perhaps unsurprisingly, what drives consumers to buy elsewhere is cheaper prices (65%), but interestingly, 22% say they will buy items from a brand they trust or recognize, while 14% do so because they think others online stores easier to use.

What gives people the confidence to shop in an online store is the experience with a reputable brand (49%), more detailed product specifications (37%), the ability to get recommendations (21%) and guidelines (19%) on the website.

Wearne said: “With in-store shopping, sales assistants can spot these signs of‘ buying intent ’and get in touch with customers to close sales, but in the online world it’s a guessing game. However, customizable brands use technology to intelligently spot these signs by analyzing digital body language of customers at critical stages of research. When identifying customers who intend to buy, brands can focus on providing a guided sales experience to give them the confidence to buy from them and not elsewhere. ”

Are you interested in the world’s leading brands personally discussing such topics? Learn more about World Digital Marketing Forum (#DMWF) Europe, London, North America and Singapore.

Tags: Amazon, e-commerce, online



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