Today global experience company Rightpoint, a Genpact company has released data related to consumer expectations related to e-Commerce. The study, titled “Stocking Up and Seeking Out: Online Shopping Dynamics in the Roaring Twenties” examines the evolution of e-Commerce in 2020 and how it forced the global marketplace to pivot, re-evaluate and re-imagine every aspect of the retail experience to meet a new set of consumer needs.
The survey explored dynamics at the intersection of channel preference, category engagement and consumer mindset. It focused specifically on three trends that have seen a leap in the last 12 to 18 months. Reliance on e-Commerce is at an all-time high and will continue to rise, despite economic, political and health uncertainties consumers crave variety and novelty and will continue to experiment, and behaviors like ‘seeking out’ and ‘stocking up’ are here to stay and are creating new expectations for omnichannel.
We surveyed 1,000 US consumers between April 25-30, 2021 to explore channel preferences, purchase motivations and category affinities. All participants were screened to ensure they shop for themselves online regularly, across multiple categories. Deep dives were conducted within: Beauty/Personal Care, Fashion, Wellness and Home.
Highlights from the study include:
- Two behavioral model– Seeking and Stocking –emerged in 2021, impacting consumption patterns: Interest in these behaviors highlights consumer willingness to replicate elements of in-store experience beyond store walls. There will be a longer-term shift towards keeping things on-hand and comparison shopping from the comfort of home.
- Online is booming: 70% of consumers purchase items weekly or more frequently
- e-Commerce confidence is high and rising: 94% of online shoppers are satisfied with recent eCommerce experiences; not only do people feel online shopping has maintained or exceeded expectations over the past 6 months, but they also expect e-Commerce to meet their needs moving forward.
- Stocking Behaviors Among Generations: 58% of Gen X’ers engage in ‘stocking’ behaviors and have more loyalty to specific brands.
- The Experimentation Index: Across categories older millennials are shown to be the most experimental group – the least attached to specific brands across key categories.
Download the report to view more comprehensive study results.