A global survey by ChannelAdvisor has found consumers in the UK trust Amazon for product research significantly more than any other channel, with social media found to be the least trusted platform.
The results of the 2022 eommerce consumer survey offer brands and retailers actionable insights into the current perspectives of online shoppers and found 48% of consumers in the UK trust Amazon for product research, compared to just 4% who trust social media.
Despite this lack of trust in social media, 22% of respondents said they discovered products through sites like Instagram and TikTok.
The survey results also revealed how inflation and rising costs are affecting consumer purchasing decisions and their priorities when conducting online research before or during an in-store shopping experience. Despite the cost of living increasing, three-quarters of UK consumers claimed they are spending the same amount or more online as they were compared to last year.
To stay competitive and agile in this changing environment, brands and retailers must first understand how, where and why consumers are shopping. There are certainly encouraging signs for those operating in the UK as, despite strong headwinds, consumers are still spending online. While consumers do look to continue buying, these purchases will be more considered, and understanding how these decisions are made will be vital.– Mike Shapaker, chief marketing officer, ChannelAdvisor
Not only has Amazon has become the top channel for consumer research with nearly nine out of ten consumers using the ecommerce platform for assessing products, but retail media ads are also influencing consumer purchase decisions with 41% of respondents saying they’d purchased after seeing an advert on Amazon. It’s not enough just to list on the marketplace, brands need to ensure their advertising is getting eyeballs onto these listings.
Retail media advertising is becoming essential to increase product awareness with 32% of UK consumers having clicked on a sponsored or promoted ad that they saw on a marketplace or retail site in the past 12 months (which lags behind other regions as the global figure is 10% higher). 41% of consumers went on to purchase an item on Amazon after seeing an ad for that product on Amazon.