As we all know, online shopping is revolutionizing the future of how the business will take place in the future. It is already taking a significant share of the revenue from traditional brick and mortar establishments. Companies now can scale and grow their business faster and on a hitherto unprecedented scale due to the boom of the internet. The connectivity across the whole world is easier than ever before in human history.
You can let people from any part of the world know about your products and can reach potential customers. In turn, they will want to purchase from your brand regardless of location constraints. The shopping behaviors of people all over the world are going through a significant transformation due to the changes that online shopping and e-commerce bring along. Shoppers can now browse and research on any product well before deciding to purchase.
There is a large potential for improving efficiency and profitability by knowing about shoppers’ behavior. There is no specific approach or formula for predicting what your customer wants. Hence, you need to continually do customer behavior research and tweak your business strategy continuously. This article will provide you with the 7 ways to know online shopper’s behavior.
7 Factors That Affect Online Shoppers Behavior
1. Emotional Decision Making
Shoppers often resort to trusting their intuition and feelings when deciding to purchase. The physical store provides an ambiance that compels the shopper to make the buying decision. In an online store, you need to create a conducive virtual scenario that creates a positive emotional trigger for your customer to buy from your business. The fear of missing out on something valuable and owning a product that is new to the market are considerable motivation factors.
Your online store must make use of colorful themes that gently push your customers to feel good about spending money on your product or services. The impression and appearance of your website are critical in making your business a success. The visual appeal of your store must be according to the product and the target demographic for a business to appeal at an emotional level.
It may not be ideal to use bright colors and funky themes if you are a tech company selling gadgets. However, it can be perfect if you are selling hip clothing for teenagers. The colors you use have an emotional effect on the shopper that visits the online store. The colors like pastel and other mute colors provide a relaxing mood while vibrant colors exude momentum and energy.
You must choose the experience your target audience will find matching with their personalities. This will move impulse buyers to be more prone to making the buying decision. Your customer will more often return for additional purchases when using calmer neutral colors for your online business. This impulsive behavior is the reason behind shoppers making the impulse decision to buy while seeing an influencer using a product.
2. Personality And Personal Needs
Shoppers’ personalities play a significant role in their shopping behavior, and their behavior varies with age, occupation, income, gender, education, and many other factors. The interests of every demographic of customers also vary, and your product may not be popular with every demographic group.
Although the younger generation of shoppers is more prone to buy through the internet, they possess considerably lesser purchasing power due to their income limitations. The shoppers with more knowledge of technology are more willing to buy online. As they know the risks and benefits in this mode of shopping and can evaluate a business by researching them.
Consumer behavior also changes with the shopper’s gender, wherein women tend to buy cosmetics, clothes, and fashion accessories and men leaning towards buying gadgets. Shoppers also tend to verify their decision to buy several times in their mind before actually making the purchase. The belief system, perception, learning, and motivation are other crucial factors that influence shopper behavior. Having a high-end visual showcase of your product will alter the perception of the shopper towards your brand.
3. Prospect Of Owning The Shopping Decision
Consumers nowadays want to know if they are getting the best product at the least price possible. Shoppers research the products and services that they intend to use from various sources on the internet by reading reviews and recommendations of experts. Over 25 percent of the shoppers’ research on several search engines and review platforms to understand which product is the best.
The younger generation of shoppers starts their research journey in search engines while the older generation of shoppers tends to start their journey on e-commerce platforms. Maintaining the reputation of your brand and the sentiments of your customers through online platforms is mandatory. You can know about the sentiments of your previous customers from their reviews on the internet. You can also ask customers that are happy with your product to write testimonials on your website.
Businesses need to understand the shifts in customer preferences and attitudes to get to know the customer behavior. You can use predictive analytics to beat your competition by forming ideal strategies for developing your business and understanding customer behavior.
4. Perceived Value In A Product Or Service
Nowadays, shoppers look for the most value in any product or service that they buy. You can no longer enter into a market that has a demand for your product and expect to ride the wave if your product does not offer anything special over your competitors. The e-commerce markets are full of services and products that are too similar to one another and you need to provide greater quality at competitive prices to alter the behavior of online customers in your favor.
If a customer likes your product, they will be more likely to buy from you again and again. Customer buying behavior runs on the trust that they feel for a brand. If your brand has a good trust value among your customers, they are more likely to buy from your business as well as recommend your products to their friends and family. You will need to look authentic and genuine to garner and build brand value for your online business.
5. Perception Of Easier Shopping Online
Shoppers prefer to purchase online as they believe it is easier to buy online and to converse with the business through their website. This ease of shopping is the biggest reason behind shoppers preferring to buy online instead of going to a traditional store in their vicinity.
The shopper needs to have the perception of this ease of shopping online, and you can influence your online shopper’s behavior by providing all the product information on all e-commerce platforms. From clothes to cosmetics, from food to footwear, from machinery to medicinal marijuana(cannabis store)- everything is available on the internet for the right price. Internet gives you a choice to streamline your online business for mobile users who are the predominant category of online shoppers.
You can also improve the ease of purchase by lowering the loading times on your official business website. Shoppers can lose focus and exit your website if the website is too slow to load. The usefulness of your product or service is another factor that has a major influence on the behavior of online shoppers. The ability of the internet in reducing the time for shopping and the wide range of choices are some of the factors that influence the ease of purchasing for your customers.
6. Social Influence
Social influence has a compelling effect on the shopping behavior of people in a region. The social influence on a person begins in their family from childhood and this forms the primary part of social influence. As we grow up and go to schools and work, we encounter our peers who form the next stage of socialization. In this stage of life, the groups that you identify yourself with increases, and the people in these groups influence our thoughts and beliefs.
According to an online survey by Review Trackers, 64 percent of shoppers check social media platforms and review platforms such as Yelp and trip advisor. The social influence factors make us believe that you belong somewhere and this causes a shopper to make a buying decision to reinforce the idea of belonging. Hence, many shopping decisions are not on the basis of what a shopper needs and instead of keeping up with a social image.
7. Cultural Influence
Culture is a significant influencer of the shopping behavior and interests of customers of a brand. Culture varies with every region and from country to country. You will need to explore the culture and subculture of a country and its social classes to gain an idea on the behavior of online shoppers.
One of the biggest advantages of online shopping is that customers can potentially buy from any location without the need to travel to a physical store. The only requirement is that a working internet connection and a device to use the internet is available. Every business must perform a thorough analysis of their customers’ behavior patterns so that they do not miss out on potential revenue through sales. Without a proper study of shoppers’ behavior, it is not possible to predict the demand for your product.
Your business can even fail by producing a product that your customers have no interest in buying and not providing the best service. Online companies have limitations to the personal interactions they can have with their customers. It raises the importance of researching online shopper’s behavior for online businesses.