Amazon is the first port of call for many consumers, which is why a new report ‘The Future Shopper: 2018 and Beyond’ from Salmon, a Wunderman Commerce company, focusses so heavily on the marketplace. However, Amazon can’t do everything and the report highlights how online sellers and offline retailers can attract consumers to shop directly with them.
Out of the 3,516 US and UK consumers surveyed, 51% start their shopping journey on Amazon with 55% ending up making their purchase on the marketplace. However an astonishing 80% check Amazon reviews and pricing even when shopping on other websites or in physical retail stores.
With stats like these, it is hard for any retailer, online or offline, to ignore Amazon. Even if a shopper prefers to buy directly from you, it is highly likely that they are checking out Amazon as well. 52% of total online spend in the US, and 35% in the UK now ends up on Amazon so if you want to attract consumers you need to differentiate yourself from the marketplace.
How do you differentiate yourself from Amazon?
The good news is that the report reveals that Amazon can’t do everything – there is even an industry acronym ‘WACD’ (What Amazon Can’t Do) for those looking to compete. Cheaper pricing (yes, Amazon isn’t always the best price), better delivery options, more attractive loyalty programs and even simply a preference for an exciting and inspirational instore experience are all winners and things that Amazon aren’t delivering for consumers.
“The role of the marketplace – be it eBay, Amazon or otherwise – is firmly entrenched in shoppers’ buying habits. It’s the accepted place for consumers to go when they want to find things or check prices. It’s trusted, convenient and ubiquitous.
However, despite the marketplace dominance, it is essential to engage with consumers across all channels to maximise sales opportunities – offering compelling and beneficial reasons to search and buy from each.
It’s only by keeping a balanced channel approach that today’s retailers and brands can hope to meet the demands of the highly complex world of the tech-savvy consumer.”
– ‘The Future Shopper: 2018 and Beyond’ from Salmon, a Wunderman Commerce
The Future Shopper: 2018 and Beyond report contains a ton more useful data such as differences between US consumer behaviour and that of consumers in the UK as well as invaluable retail sector breakdowns. You can download your copy direct from the Salmon website.