5 Consumer Trends to Keep an Eye On
E-commerce moves fast. Align your brand with these trends & you’ll be able to keep up.
Social ads are still IN.
Recent studies show that 78% of consumers say they are more willing to purchase from a brand if they have a good experience on their social media pages.
What to do?
Nail down your social ad strategy. In recent years, social media ad spend has increased even further into the billions. Don’t sleep on your piece of that pie.
*Pro tip - Partner with the right creative agency to maximize your bottom line. *hint, hint*
Brand loyalty is declining.
Now the big question–WHY? New placed value on sustainability, convenience, and more.
What to do?
We all know it costs less to keep current customers than to acquire new ones. With this in mind, take a look at your current value propositions, and make sure they appeal to your audience. Things to consider include sustainable practices, loyalty programs, convenient shopping options, and perks for your VIP customers.
*Pro tip - To implement a seamless loyalty program, we recommend Yotpo or Smile.io
Personalization = Key
A 2022 study revealed that 62% of consumers said a brand would lose their loyalty if it did not provide a personalized experience.
What to do?
As an e-commerce brand, personalization can be your secret weapon. Utilizing consumer data, you can provide custom product suggestions, targeted ads, shopping assistance, cross sell notifications and more. The sky is truly the limit.
*Pro tip - Several of the above mentioned tactics can be done through Klaviyo, our email marketing platform of choice.
Demand for Easy Returns
When free returns aren’t an option, make sure your return policy is especially seamless!
What to do?
We get it, current margins may not allow for free returns, so make your return policy clear and concise. To get ahead of the issue, provide more product information, in order to create less reason for returns—sizing charts, reviews with photos, and chatbots can help accomplish this,
*Pro tip: Partner with Gorgias for all of your customer service needs!
Payment Options on the Rise
A great way to appeal to your younger customers AND combat new inflation budgets.
What to do?
The “buy now pay later” market is here to stay. Implement options like Shop Pay, AfterPay and more to join the trend. Studies show that nearly half of Gen Z consumers planned to utilize this feature during their 2022 holiday shopping.