What are our ecommerce buying habits?

10/05/2017

Angela de la Vieja

When launching an ecommerce there are many aspects to take into account, from the type of product to be offered to the design of the online store, through to the allocation of prices. And do not forget the customer, because many of the decisions that are made before launching an online store depend directly on the tastes of potential customers.

And what are the online shopping habits of the Spanish consumer? It is imperative to know what we are looking for, what expectations we have in an ecommerce, what we like to buy and how we do it.

The buying process of ecommerce customers varies depending on factors as different as the type of product, the physical environment of the purchase and the platform through which the transaction is made. So there are several questions that every ecommerce should consider to fine tune its actions.

So, who buys online in Spain? In terms of sex, there are no major differences, half of the buyers are women and the other 50% are men. However, age is an influence, the average is 38 years. Most online shoppers (65%) have university education and live in a home with more people, according to IAB Spain's Annual eCommerce Study 2016.

In what environment do users buy? Surprisingly, 73% of shoppers do it while they're working. And in terms of devices, more and more are using the computer, the tablet or smartphone to make purchases, although the large screen is preferred to see the product better and 15% do not consider payment by mobile to be reliable.

And what motives lead us to buy online? The main reasons that make almost 16 million people buy online in Spain are the offers they find (as indicated by 87% of respondents), comfort (85% point it as a compelling reason), ease (81 %) And time saving (77%).

Choosing an ecommerce

Once we can define the broad profile of the online buyer, you have to ask yourself a question that has even more impact for an online store: what leads a user to choose between one ecommerce and another?

For 60%, the main criterion of that decision is economic, and makes a choice based on both the competitiveness of the price and the transparency of the ecommerce. The variety of offers and products and the price differences between the online store and the physical store are two of the reasons that most influence users to prefer to buy online.

Secondly, shipment aspects are also influences, free shipping costs as well as the delivery period and the follow-up of the order. In fact, most users believe that the delivery time should be less than 5 days, and would be willing to pay more for the product to arrive earlier.

Secure payment is another of the decisive keys for the user to settle for an online store or another. Here, in particular, the different payment options and the trust transmitted by the web influence them.

As for the web structure, it is a decisive factor especially in the pre-sale phase, which begins with the search by the user for information regarding the product that interests him. An ecommerce with an orderly and updated catalogue, in which it is easy to find the products and make the purchase, has many points so that the purchase is actually made there.

In light of this data of online buyer’s behaviour, it is clear that the success of an ecommerce depends, to a large extent, on the level of adjustment to the specific needs of its customers. Is your ecommerce ready to meet those expectations?

11/11/2022

Consumer behavior: How can behavior tracking be effective for setting the right pricing strategies?

Behavior tracking is becoming massively popular today. As a result, pricing strategies born from studying consumer behavior are a merchant's dream come true. If done right, it can conquer every market for the business quickly. With abundant data available, the strategic makeover of the pricing models is becoming easy for companies.

What is behavioral tracking, and how is the data beneficial in pricing?

For a quick understanding, behavioral tracking refers to gaining in-depth knowledge and insights into consumers through their web data. Their browsing habits, spontaneous decisions, shopping interests, and preferences come under behavioral tracking.

How can enterprises use customer behavior data?

Companies can use customer behavior data as a tool to strengthen their hold on the market. A customer’s preferences, values, and tendencies allow businesses to work in sync with them through the collected data. Apart from this, customer behavior can also aid in:

Tailoring customer needs for customer retention

Personalization is becoming the heart of a company’s growth. No matter in which area an enterprise is functioning, tailoring the services, products, and solutions is becoming increasingly crucial. Uniqueness and personalization attract the crowd like no other.

Increasing the overall value

One of the best ways customer behavior data affects a business is by upgrading the value of customers for the business. The customer’s characteristics allow the company to target the people that match the business prospects well.

Optimizing every type of content

Everything that is up for digital display requires content. You must have seen companies unveiling their products or services through advertisements and making the initial public appearance. Two essential sales strategies – upselling and cross-selling comes through content optimization.

Pricing Strategy

Last but certainly not least is the influence of customer behavior data on the pricing strategy. The pricing strategy essentially constitutes content derived from data analysis. Companies need to have a dynamic approach to the pricing system to attract the right customers.

17/02/2015

Saint Valentine’s Day, always a good opportunity

V-Day is looming, a long-awaited date for all and also a good occasion for the eCommerce. According the study conducted by Prosper Insights and Analytics, it is forecasted the average consumer expense that day will be the highest in last years. Furthermore, 25% of them will buy online, which means an increase of 4% regarding 2014 (The US department of Commerce). This is, therefore, a key date where market competitiveness increase and which could be assumed as a big opportunity for our business or, a big fail if we do not adopt the correct strategies.

How to turn this event into an opportunity? To achieve this goal, we need to adapt our prices to this hostile environment, i.e. we need to develop an appropriate Dynamic Pricing strategy that allows us to adapt our prices to the variations produced in supply and demand and to position us ahead of our competitors. In V-Day, the frequency in changes will be higher, carrying it out each hour or even each minute. It is estimated that 65% of leader retailers have the ability to respond quickly at these variations, such Amazon. For this reason, it acquires great importance the correct use of a software specialised in price motorisation of competitors. Do not miss the time and adapt your business to new adversities.

28/12/2022

Which are the best footwear marketplaces to sell on?

Footwear marketplaces are booming. The last decade has seen the launch of new specialized marketplaces with millions of different users. Among them are Spartoo, Sarenza and Farfetch, portals with international reach. Their main value is that they unite hundreds of footwear brands, as well as offering clothes and accessories. Although each has its own characteristics, they are all vertical marketplaces, i.e., they focus on a specific area, and their sales categories are interrelated. For sellers, these portals provide an opportunity to expand sales channels and drive the globalization of their e-commerce business. We explain how to sell on these footwear marketplaces so that you can assess whether they align with your plans for the future and then start defining a possible pricing strategy.