eCommerce will continue to be a driving component of the retail industry. Although the frequency of online shopping has decreased somewhat from 2022, 4 in 10 consumers are shopping at least once a week, and most consumers (96%) still conduct research online before making purchases. This trend highlights the growing reliance on digital platforms throughout the shopping journey.
The ecommerce sector is a significant growth driver, showing faster growth rates than the total retail market. This rapid expansion emphasizes ecommerce’s crucial role in shaping the future of retail, as consumers utilize digital channels for their shopping needs.
A key opportunity lies in the rising demand for convenience and personalization. Consumers value ease when shopping online, making it essential for retailers to enhance their online platforms, optimize their communication strategies, and streamline fulfillment and return processes.
However, data privacy concerns challenge online shopping. Nearly two-thirds of consumers (65%) worry about how brands manage their personal information. This situation requires retailers to take a proactive stance by implementing strong data protection measures to foster consumer trust and ensure that privacy issues do not impede the potential of the ecommerce industry.
The online shopping journey is rapidly evolving, as consumers seek more convenience and seamlessness. Tech is crucial to increase efficiency and satisfaction.
Marisa Ortega, Analyst – Retail & eCommerce
This report examines a consumer’s journey from an unknown and known need to buying a product, as well as the multiple phases involved: awareness, consideration, intent, and purchase.
While any path to purchase likely involves physical and digital retail regardless of category, this Report focuses on the online steps that lead to purchasing on the same channel.
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