Online shopping grows in popularity by the day. Factors like convenience and the recent pandemic—which forced many users to try online shopping for the first time—are making online shopping the preferred way to shop. And it looks like online shopping is here to stay.
According to Statista, over one fourth of the world’s population—a whopping 2.14 billion people—shop online. That begs the question — how can you leverage buyer motivations to shop online to maximize profits in your online store? Why do people buy online in the first place?
1. Free shipping
This is the single biggest reason why online shopping is popular. Free shipping is an incentive that many time-starved consumers appreciate. Rather than spending gas money and valuable time visiting a store online, they see free shipping as an added bonus that encourages them to buy an item with a few clicks online and go about their day.
Some companies charge a minimum for free shipping, which encourages buyers to fill up their cart.
2. Competitive prices
Shopping online gives users the ability to compare prices at the few clicks of a button. Not only does this help them choose the lowest price, but it also offers additional incentive to keep shopping online because users can find the lowest prices there. This is especially true if discounts can be applied (more on this later).
3. Convenience
The convenience of having an item delivered directly to your doorstep can’t be underestimated. This is especially true for consumers that either have limited time to shop or shop with other people such as aging parents or young children (or both!). People prefer online shopping because the experience is more convenient than going to a store in-person.
4. Expedited shipping
The convenience factor becomes even more intriguing if shipping times can be expedited or offered within a few days. Many consumers are willing to wait a day or two for an item as opposed to running to the store and having to deal with crowds, parking and lines that day.
5. Product variety
For everyday items like groceries and alcohol, consumers don’t mind visiting an in-person store. However, during the pandemic, this shopping pattern transitioned to a preference for online shopping for many. For speciality items, users enjoy being able to read reviews, compare prices and learn about product specifications online. There’s simply more variety online. Think about purchasing an item on Amazon — the search term can yield hundreds of results. Modern consumers like to compare products side-by-side and it is easier to do that online.
6. Discounts
Many online retailers offer coupon codes, discounts or deal of day type incentives that make online consumers feel good about their digital purchasing decisions. Some even offer membership or auto-renewal discounts that help consumers remember when it is time to re-up a product for an additional discounted price.
Plug-in browser extensions like Honey, Pricescout, Capital One and others help users find coupon codes that offer additional incentive for online shopping. Additionally, many retailers offer online-only pricing that beats their in-person prices.
7. Find the exact brands and products you love
People appreciate being able to find the exact item or product they are looking for. As opposed to being distracted by a bunch of other items in a store and ending up leaving with items you don’t actually need, online shopping offers a more targeted approach.
People tend to become brand loyalists early in life and it’s nice to be able to find the exact brand you are looking for. This is especially true if you are shopping for specialty food items, specific cosmetics or a certain size of clothing. It also applies to niche items like environmentally-friendly products.
8. Easy buying/return process
Cart abandonment is one of the biggest issues facing eCommerce businesses. A number of workarounds exist to help consumers make it through the buying process without abandoning their cart. An easy user experience is cited as one of the main reasons users shop online. The same is true for returns. Offering free returns and options for return pickups give users additional incentive to buy online.
9. Online reviews
In a recent study, 75% of users suggested they look for online products with the best reviews. This is especially true in a crowded market where users don’t already have loyalty to a specific brand. Online reviews not only encourage users to purchase online, they may encourage consumers to purchase new items they’ve never heard of.
10. Social media/online-only shopping
Direct-to-consumer advertising is taking on new heights with social media. Algorithms help target specific users who either have searched for similar products or are in a target demographic or psychographic of the company.
This is a big reason why online brands choose online selling. In fact, many eCommerce brands only sell online. The rise of influencer marketing and targeted ads on social media help put online products in front of people who else wouldn’t find them.
Now that we’ve explored why people shop online, let’s look at what can be done to maximize your eCommerce experience to take advantage of the existing user behaviors and preferences discussed above.
How to leverage online buyer psychology for eCommerce success:
Make your site easy to use
Consumers expect a seamless online user experience. A bad one makes users less trusting of your overall brand. Part of this online experience being better than the rest includes amping up your inventory so that you have plenty to offer without goods or items being sold out.
Another is to offer free shipping and returns so that users have very little risk in making a wrong choice in purchasing online. Finally, the best way to lose a customer is to not deliver on your promise for delivery.
A best practice is to offer a delivery window and make sure it isn’t months out. Once you’ve made the promise, stick to when consumers can expect to get their product.
Instill FOMO with compelling copy and product descriptions
Without the ability to see a product in-person, it’s imperative that your copy sells your product while being accurate.
Include as much product information as possible including color, dimensions, ingredients and fabric information, as it applies. Since you are missing out on in-person sales, people to do the selling for you, your product descriptions really need to paint a picture as to why buyers need to have the item you are selling.
Build trust by including social proof and solid security measures
One of the only downsides to online buying is the possibility of increased fraudulent activity. To get around this, eCommerce shops need to offer a variety of payment options, all backed by security and anti-theft logos. Help ease user’s fears of shopping with you by including lots of testimonials and reviews.
This social proof goes a long way for online buyers. Another option to build trust is to get ahead of consumers by preemptively offering product comparisons. Users are already going to compare online, by taking this added step, you show buyers how confident you are in your own product.
Encourage loyalty and repeat customers
It’s much easier to retain a customer than to convert a new one. One of the best ways to do this is to encourage users to become repeat customers. Memberships, discounts for repeat purchases and auto-renewals help encourage repeat visitors.
Partner With Experts in eCommerce
With a huge number of online shoppers to date, and an ever-growing group of consumers that begin to prefer this method, it’s important to understand consumer behavior and make sure you are up to date. Understanding the customer buying process and using the right tools to leverage shopping behaviors is a key part of optimizing your eCommerce shop. Partner with us to make the most of your online store experience.