Online shopping trends according to a Klarna Research confirm that the online market is growing fast and that some of the reasons why shoppers prefer digital channels to traditional stores are related to pricing.
If you think your brand or e-commerce doesn’t need an AI tool for online market analysis and monitoring, you are about to change your mind!
Shopping online: 2021 vs 2022
Many people have stated that this year they will shop online more than usual for Black Friday and Cyber Monday sales.
More specifically, in the U.S., 73% of consumers will shop more online compared to last year, and in Italy 66% will choose online shopping. Globally this trend corresponds to 58%.
How shoppers think the will split the purchases between online and in-store
In the U.S., 58% of customers will buy more online and 25% will buy more offline during Black Friday and Cyber Monday sales. In Italy, 58% of consumers will buy more online and 20% will buy more offline. Globally, this translates to 49% of shoppers who will buy more online compared to 28% who will buy more offline.
Why are shoppers turning online?
Some of the reasons why shoppers are planning on digitizing their purchases during the biggest sales days of the year are related to prices.
Globally, 76% of shoppers choose shopping online because it’s easier to compare prices. 74% of shoppers choose shopping online because of the lower prices that can be found.
The in-store shopping journey begins online
Physical stores still play an essential role for shoppers, but even when shoppers prefer the in-store shopping experience, the purchase process starts with online research also known as webrooming: 81% of shoppers carry out online research before shopping in-store.
These ever-increasing numbers show that an essential market segment is online, where the market is highly competitive and customers can compare prices more easily and quickly. It is therefore essential for companies to act with the right timing and ensure the correct positioning and an optimized pricing strategy.
Do you want to find out how Competitoor can help you? Request a free demo here.
Source: Klarna Insights. Black Friday & Cyber Monday