E-commerce

E-commerce players are still yet to address the gap in consumer expectations – The Drum

Summary

The e-commerce sector still has a long way to go to address the gap in consumer expectations as “first to the market” consumers say their shopping experiences are “quite boring”.

The Covid-19 pandemic has seen e-commerce establish itself as the new retail norm as more than eight in 10 ‘Prosumers’ say they prefer the online shopping experience over the traditional format of in-store purchasing, according to Havas’ new “Prosumer Report”.</p…….

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The e-commerce sector still has a long way to go to address the gap in consumer expectations as “first to the market” consumers say their shopping experiences are “quite boring”.

The Covid-19 pandemic has seen e-commerce establish itself as the new retail norm as more than eight in 10 ‘Prosumers’ say they prefer the online shopping experience over the traditional format of in-store purchasing, according to Havas’ new “Prosumer Report”.

Prosumers are the leading-edge 15-20% of consumers, who are first to the market (usually 6-18 months ahead of the mainstream), forward-thinking, influential, proactive, and socially and/or environmentally conscious.

“Prosumer is Havas Group’s global report that is released three to four times every year, each one covering a specific topic. It is one of the longest-running thought leadership properties of Havas Group that has become instrumental in predicting emerging trends in consumer behavior,” said Pritha Dasgupta, the chief marketing officer at Havas Group India.

“Over the last two years, digital adoption has been extremely fast and has become a way of life. If we specifically look at the e-commerce sector, it has become a breeding ground of innovation and in the last two years, every leading company in this sector has grown aggressively. Our latest Prosumer Report gives a clear direction to the industry of where this e-commerce sector is headed, and also identifies trends of the sector.”

The report surveyed 3,000 consumers from Brazil, China, France, India, the United Kingdom, and the United States.

What did the report find?

  • Post-pandemic, the desire to replicate in-store/mall experiences has led prosumers to seek community shopping experiences from the e-commerce industry.

  • The report predicts there will be a spike in demand for services such as the ability to shop on social media (66%) and the ability to interact with fellow shoppers (68%).

  • Consumers are demanding transparency regarding what data is being collected as 97% of the prosumers rate privacy as the key attribute and 83% are ready to boycott brands that do not have a transparent data collection policy.

  • 68% of Prosumers expect their e-commerce shopping experience to be tailored through personalization and AI.

  • 95% of prosumers demand eco-friendly packaging and 69% want to see e-commerce organizations commit to sustainable practices across the value chain.

Source: https://www.thedrum.com/news/2021/11/15/e-commerce-players-are-still-yet-address-the-gap-consumer-expectations