According to the survey “Retail & ecommerce 2023” conducted by LLYC y Appinio, eCommerce metrics reveal a fascinating trend among Spanish consumers, highlighting the significant impact of adopting a hybrid approach to shopping. By seamlessly navigating both physical and online channels, these savvy individuals have demonstrated their willingness to embrace new-age retail experiences.
The influence of digitization
Surpassing their counterparts who solely rely on brick-and-mortar stores, this dynamic consumer segment spends nearly 40% more in comparison. The statistics shed light on the profound influence digitalization has had on consumer behavior, as it empowers shoppers with enhanced convenience and accessibility while simultaneously broadening their product selection. Such eCommerce metrics underline the undeniable value proposition offered by omnichannel strategies that harmoniously blend traditional shopping habits with cutting-edge technological advancements, ultimately fostering increased customer engagement and boosting overall revenue prospects.
Favorites categories for online shopping
Ecommerce metrics consistently reflect the enduring popularity of toy and technology categories as favorites for online purchases. Toys, with their universal appeal to both children and adults, have become highly sought-after items that are often purchased online due to the ease of browsing through diverse options and comparing prices across multiple retailers at one's fingertips. Similarly, the allure of cutting-edge technology products draws tech-savvy enthusiasts towards virtual storefronts where they can explore the latest gadgets and make informed purchasing decisions using comprehensive ecommerce metrics such as customer reviews, product ratings, and detailed specifications.
The impact of digital media
Recent research reveals that an overwhelming 80% of users admit to being significantly more inclined towards purchasing from brands that have made multiple impactful interactions with them through retail media platforms. The ability of these digital channels to create lasting impressions and foster meaningful connections with consumers cannot be understated. Through strategic placement and engaging content, retail media creates opportunities for brands to effectively communicate their value proposition, build trust, and ultimately drive conversions.
Seeking out new brands
In the rapidly evolving landscape of digital marketing, social networks, search engines, and recommendations have emerged as the most popular channels for consumers to connect with new brands or products. As businesses strive to capture their target audience's attention in this vast online realm, they must focus on maximizing their "digital shelf share." This term refers to the visibility and presence a brand holds across these various platforms. Social networks provide an interactive space where consumers engage with friends and influencers alike, making it an ideal channel for brands seeking exposure. Search engines act as gateways to information, enabling consumers to discover new products through targeted searches based on their interests or needs. Recommendations from trusted sources further enhance a brand's digital shelf share by leveraging personal connections and word-of-mouth influence. By optimizing their strategies within these channels—crafting compelling content, employing effective SEO techniques, nurturing customer advocacy—brands can ensure they have a prominent position on the virtual shelves of today's tech-savvy consumer market.
Both consumers who prioritize offline shopping experiences and those who opt for a seamless omnichannel approach agree that digital retail, encompassing various online channels, plays a pivotal role in nurturing brand awareness. This preference stems from the inherent convenience offered by online platforms, allowing shoppers to explore products at their own pace while benefiting from tailored recommendations and relevant advertisements. For both traditionalists seeking memorable offline interactions and tech-savvy individuals embracing an omnichannel lifestyle, the undeniable impact of digital retail on brand awareness is evident.
Discovery according to generation
Almost 100% of Generation Z use digital channels, emphasizing the importance of omnichannel and digitization. The video format is more appealing to millennials, whereas Generation X prefers recommendations from friends, as well as reviews and opinions from other customers.
The seamless omnichannel experience not only caters to their evolving needs but also fosters trust and loyalty towards brands that straddle both realms effectively. As a result, the convergence between offline and online leads to a pronounced recurrence of purchases as customers find themselves drawn back into these immersive retail ecosystems repeatedly. Moreover, when consumers engage actively across multiple channels within this integrated framework, it significantly boosts customer Lifetime Value (CLTV). The seamless fusion of offline and online channels nurtures enduring relationships between businesses and individuals while unlocking vast potential for revenue growth in today's fast-paced era of digital transformation.