Publications, reports, surveys - the number of studies describing the condition and functioning of eCommerce is growing at a dizzying pace. How to stay up to date with industry news before the new year begins? All you have to do is read the latest edition of Advox Press Release! In the 35th edition, you'll learn about how the needs of e-consumers have been changing and what awaits the deferred payment market, among other things. Feel free to read on - for the last time in 2022!
E-consumer experience more important than price - Cisco AppDynamics study
It's no longer just price that is the key factor on which customers make purchasing decisions - eCommerce experience expectations are becoming increasingly more and more important. More than 90% of consumers consider fast and seamless functioning of applications and sales platforms to be essential. These are the conclusions revealed in a study conducted by Cisco AppDynamics, a San Francisco-based IT company. What else does it reveal?
- 73% of respondents say that promotional campaigns lose their attractiveness while the online store is not responsive,
- 63% of eCommerce users feel anxious and angry when they encounter sales platform malfunctions,
- Nearly 75% of consumers say they will not return to an eCommerce site if they experience any problems in its functioning.
During the busy sales period, the proper functioning of the platform is as important as an attractive price for the products offered. The majority of consumers agree with this point of view, as evidenced by the results of the above study over the past years. Caring for the continuous improvement of the online store, both in terms of the basics of its functioning and the implementation of new functionalities, is an opportunity to increase sales, attract new customers and maintain the trust of regular visitors.
You can learn the details of the study here. How do you take care of maintaining your sales platform?
Convenience and security of deferred payments - MasterdCard survey
We've written about deferred payments more than once on our blog - we've dedicated a separate article to the topic, and also mentioned them when summarizing 2022 in the industry. There is no denying that the Buy Now, Pay Later (BNPL) payment model is taking the eCommerce world by storm.
The BNPL service is a convenient way to order products immediately and pay the amount due at a later date without additional fees. Poles are increasingly willing to use this form of financing - according to data cited by the Fundacja Rozwoju Rynku Finansowego, in October 2022 the value of purchases using deferred payments reached more than 190 million zlotys. Consumers value the flexibility the service offers, but they are also increasingly struggling with various types of doubts. Mastercard's New Payments Index survey revealed that only 47% of them feel completely comfortable using the BNPL method. How to improve this result?
Polish consumers value security as much as the innovation of solutions - 62% of eCommerce users admit that they would be more willing to use deferred payments if they were offered by their bank. In addition, 60% of them would be interested in the "Buy Now, Pay Later" form of payment if it was offered by large payment networks. In addition to the change in the structure of providers, there is also a noticeable need to educate the public on the responsible use of such services.
You can read about consumer approach towards deferred payments by following this link. And you, have you already introduced the BNPL option to your eCommerce?
How did Ceneo.pl users buy in 2022?
The end of the year is full of summaries - such a report was also prepared by Ceneo.pl, one of the most popular price comparison sites in Poland. What was the typical shopping path of those using the portal in 2022?
- According to the report, people between the ages of 35 and 44 were the most likely to shop online, and women dominated among them.
- The most popular products were items from the construction and renovation industry (14%). The next highest ranked categories were home and interior (8.9%) and health (8.3%).
- Most orders were made on Mondays and Tuesdays between 10 am to 1 pm and 8 pm to 10 pm, while the fewest customers chose to shop on Saturdays.
- Customers most often abandoned completing the transaction due to: the cost of delivery being too high (16.5%), finding a more attractive offer (11.9%) and not finding a suitable form of payment (11.6%).
The above report is an extension of the "Ranking Zaufanych Sklepów" study, which is prepared annually by the creators of the online price comparison tool. Are you curious what else stood out for Ceneo.pl users this year? You can read the full report here.
