Product convenience and value for money were named as the most critical factors for consumers purchasing products online by the Australian Ecommerce Report for 2022.
IAB Australia and Pureprofile released the report, which surveyed 1,000 consumers on their attitudes, influences and behaviours in eCommerce.
When buying online, 77 percent of respondents named convenience as their number one reason for going digital, and 84 percent said value for money was the most compelling feature of online purchases.
Clothing, shoes and fashion were named the most popular online shopping avenue, increasing from 72 percent to 74 percent. However, the most significant growth was seen in the grocery sector, going from 54 percent in 2021 to 64 percent in 2022.
The report also came with a warning to retailers, as while physical retail is returning to normal, seamless omnichannel experiences are increasingly important, and marketing strategies must reflect this.
"Since the onset of COVID in 2020, consumer online habits have changed, and retailers have made investments in digital transformation which has resulted in a huge growth in ecommerce expenditure. This growth has continued into 2022 but with the expectation of future economic downturn, retailers will need to service customers who have embraced the convenience of home delivery as well as click and collect but are increasingly price sensitive," said Gai Le Roy, CEO of IAB Australia.
Around 58 percent of online shoppers regularly engage with retailer media content, and with 59 percent of 18-29 years olds using social media for product inspiration, social media is increasingly important. 30-39-year-olds reported relying the most on word of mouth, and over 50's were heavily influenced by online searches and emailers from retailers.
"After a challenging period where retailers were forced to pivot to online and many flourished, those retailers now find themselves at an interesting juncture – needing to maintain their growth while also being aware of the economic environment. Through this year it will be especially important for retailers to keep close to their consumers and examine changing sentiment swiftly," said Martin Filz, CEO of Pureprofile.
The full report can be found on the IAB website.
