CUSTOMERS SHOPPING BEHAVIOUR 10
Another important thing should be considered is a generation gap in online buying. Of course, young consumers buy more online than their parents. They have grown up with digital technologies and have fewer hesitations while making online purchases. In some Eastern European countries, the percentage of young consumers who often buy online has more than doubled in just three years.
It should be taken into account that as they get older this gap will gradually disappear. This means nothing but a further increase in e-commerce customers’ number and consequently growth in demand that should be satisfied. The online commerce sellers who have a strategy to meet these changes will be the winners of tomorrow.
But it’s not relevant to all countries. For example, in such e-commerce giants like UK and Germany growth of new consumers will not be so steep: the majority is already buying online. However, it doesn’t mean that European markets with highly developed e-commerce sectors will not face extension. It will happen mainly because consumers will move more their consumption to the internet: the range of products purchased will expand. The existence of a stable consumer base in some countries means that buyers are prepared to do a great deal of shopping online and it’s also a great opportunity for e-commerce businesses.
According to data provided by Eurostat, biggest growth in EU28 is among individuals aged 20 to 24: the % of individuals having last purchased online in the last 3 months among internet users grew by 25% between 2013 & 2017, going from 51% to 64%, where for all other individuals, this increase was only 14%.
At the same time, the latest research of the USA e-commerce market shows that Gen Z (18–21 years old) spends twice or even triple more on shopping on social channels than any other average consumer(Instagram, Snapchat). Gen Z is moving toward complete comfort with e-commerce — engaging with more ads, buying on newer platforms, spending more discretionary income and ultimately putting their money where a brand’s personality is. Gen X (40–55 years old) has Facebook shopping preferences. Millennials (22–37 years old) have grown accustomed to speed, convenience, and personalized online experience. However, Gen Z has never known shopping without these.
For e-commerce, the most important thing is the consumers’ trust. You should be aware of the main expectations and fears that customers can feel. According to the Eurostat survey the main reasons for not buying online are as follows:
· prefer to shop in person, like to see a product, loyalty to shops or force of habit
· payment security or privacy concerns
· concerns about the return policy, compliant/redress concerns
· delivery of goods is a problem.
Modern shopping expectations and new habits of consumers create new e-commerce trends.