Third of UK Consumers Return to their Pre-pandemic Rythyms: PromoCodius
- Written by: Gary Howes
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Image © Adobe Images
E-retailers face a challenge in attracting new consumers and retaining those who made a purchase in the past, according to a new survey from PromoCodius.
The survey aims to establish a firmer understanding of online consumer trends, specifically what puts them off and causes them to abandon their shopping baskets.
Today, 35% of British consumers say they are making more online and in-store purchases than before the pandemic, and 48% of them plan to maintain a similar pace of online purchases over the next 12 months.
But the findings come as the CBI's monthly Distributive Trades Survey revealed increasing headwinds for the sector, with internet sales volumes falling at the fastest pace on record at -78%, from -3% in September.
Online sales are expected to contract again next month but at a relatively slower rate (-45%), said the CBI.
This comes as PromoCodius finds that although a third of British people (32%) said they made more online purchases during the pandemic, they have since returned to their pre-pandemic online purchasing rhythm.
Therefore e-retailers face a challenge in attracting new consumers and retaining those who took the plunge during the pandemic, highlights the survey conducted by a discount platform offering promo codes and coupons Promocodius.
"Historically, the British have had a close relationship with physical retailers and need to go to the store to touch and see the product before deciding to buy. In-store purchases provide a sense of security that online purchases may not. E-retailers therefore need to be able to reassure consumers, in particular through personalized offers, secure payment, by facilitating returns or by highlighting customer reviews, which are strong differentiating factors," explains Alisa Sklyarova, project manager from PromoCodius.
To continue stimulating growth in an uncertain economic climate of high inflation and to compete with the web giants, such as Amazon or Sainsbury's, it is essential for e-commerce SMEs to understand the factors that drive British consumers to buy, what puts them off and what, in particular, causes cart abandonment.
PromoCodius experts asked online consumers to identify three features that e-retailers should offer to optimize their online purchasing decisions:
- 79% of consumers surveyed want a fast, efficient payment method,
- 79% want fast delivery times,
- 75% ask for free returns.
Note that the bank card is the preferred online payment method for ⅔ of British people (64%) ahead of PayPal (55%) for purchases in the UK.
9 out of 10 people think that the availability of their preferred payment method(s) is important when making a purchase. 83% of British consumers surveyed also mention the availability of their preferred payment method as the main reason for buying from an e-retailer again.
SMEs need localized solutions to offer a more personalized shopping experience in line with their habits. But they also need to be innovative and able to expand to serve customers across borders. It is essential for SMEs to offer the payment methods their customers prefer. Credit cards are no longer the only option.
Offering multiple payment options, whether it's PayPal, fractional payments or mobile wallets popular in each local market, wins consumer trust and therefore increases conversion rates and brand loyalty.
PromoCodius is an online platform that offers current coupons, deals, and discounts for thousands of well-known and leading retailers. Founded in 2016, it operates in Ukraine, Czech Republic, Poland, Slovakia, Romania, Sweden, Denmark, Finland, Norway, Spain, Mexico, United States, Turkey.
