This is the new retail consumer behavior
Grow Your Business, Not Your Inbox
We have been dealing with the health emergency that COVID-19 brought us for just over a year and the effects of the lockdown brought important changes for retail consumers. Google conducted a study with Kantar to understand how the pandemic transformed the way we consume.
The study reflected that electronic commerce advanced by leaps and bounds in recent months. While e-commerce and the use of video for shopping was already growing prior to the pandemic, today's digitization has grown exponentially.
The most important result of the study is that retailers have to prepare for the future since in 2020, 36% of retail buyers in Mexico bought a new category online for the first time and 29% bought from a new brand. Not only that, consumers expect to continue shopping online this year to increase online sales up to more than 16 percent.
More concerned about health and money
The study found that one of the main concerns of the majority of consumers in Mexico is their health. Other results of the collaboration between google and Kantar were:
- 82% are concerned about going to a business that does not have the relevant sanitary measures.
- 86% are concerned that others do not take care of the necessary measures responsibly and do not practice good hygiene.
- Clean spaces where they take care of everyone when wearing face masks and masks and keep distance between one person and another, will be preferred by 87% of consumers.
- Another of the great concerns of Mexicans today is their personal finances
- 7 out of 10 consumers reduced their impulse purchases.
- 29% of Mexican consumers have focused on buying essential products.
- At least 38% now spend less money overall.
- Consumer interests changed last year as much as their needs.
- The categories most sought after by more than 40% of Mexican consumers were Home and Garden, Technology and Clothing.
- Consumers are already omnichannel and a clear example of this is that 81% of them did research in various channels before making their purchase, regardless of whether they would do it physically or virtually.
- Consumers are more willing than ever to try new things. 29% bought a new brand in 2020.
A more open market than expected
Google mentions that at the beginning of the pandemic there was uncertainty as to whether businesses would have the ability to keep up with consumer demand. The results were better than expected as 73% of consumers in Mexico mentioned that they had no problems when buying online, which indicates that there is an area of opportunity to attend of 27%.
The most frequent problems in online purchases were shipping, product availability, customer service or lack of information.
With this in mind, Google gives the following three tips for you as an entrepreneur to prepare your business to sell more online:
- Step One: Put the consumer at the center and be empathetic. Consumers are the essence of any business, so it is important to understand their changes and their main concerns in order to address them and draw up strategies that provide adequate solutions.
- Step Two: Make data-driven decisions, like having an omnichannel strategy.
- Third step: Be agile, especially when implementing new strategies that accommodate the changes that we are discovering in consumers. It is important to know where they are shopping and to accompany them on their purchasing journey that will continue to be in constant transformation.