The European Ecommerce Report: 5 key takeaways
Just when things go back to normal, everything changes. The pandemic transformed the ecommerce landscape, and as we settle into the post-pandemic world, things are changing again. Now, the boom is over and times are tougher. Online businesses are adapting but don’t always find it easy to meet and even exceed the current expectations of shoppers.
Consumer expectations in a post-pandemic world
To help, we asked 3,000 consumers across Europe about their online shopping behaviour and what retailers need to offer to increase sales, reduce cart abandonments, and drive brand loyalty.
The report reveals how ecommerce has changed, how consumers now shop online, and uncovers some of the key things retailers need to do to increase conversions, maximise sales, and attract customers to return. It also takes a deep dive into several of the biggest European ecommerce markets. Download the full report, or read on to discover some of the key things we learned.
1. How consumer behaviour has changed
The increase in ecommerce adoption during the pandemic was clear, but our research shows that online shoppers are here to stay, with 35% saying they shop online more post-pandemic. This shift is driven by the lower prices they get online and the seamless shipping options online retailers offer, including convenient delivery times and free returns.
2. The economic outlook
Macroeconomic factors are having an effect on countries all over the world, and consumers across Europe are pessimistic about the economic outlook for the coming year. In total, more than half (52%) say they think their country’s economic situation will worsen over the next 12 months. Our research shows that online spending will be significantly affected if this outlook is realised, meaning businesses might have to do more with less to weather the storm.
3. The importance of payments
One theme that runs through the European Ecommerce Report and connects the dots between consumers across the continent is payments. In fact, 87% of consumers say it’s important that retailers offer their favourite payment methods when they’re shopping online.
Our data also shows each country’s consumers preferences for particular payment methods, whether purchasing from a domestic or international online retailer. It also shows how a retailer’s payment methods and infrastructure influences buying decisions, cart abandonments, and loyalty. For example, offering a quick and efficient payment method is the main factor in convincing consumers to buy from a retailer.
4. How to attract shoppers (and reduce cart abandonments)
Our research shows how consumers decide where to shop, the processes that lead them to purchase, and what retailers need to do to convince them to buy. For example, one capability retailers need to offer consumers are free delivery options, while cart abandonments are driven by worries about payment security and high shipping costs or taxes.
Generally, these trends align across Europe, including how consumers shop. Almost half (48%) of respondents say they use international retail wholesalers such as Amazon as their default choice for online purchases. But there are nuances in each market, such as that Dutch consumers are more likely to go directly to a retailer’s online store or that UK consumers are the most likely to scale back online spending if the economic situation worsens in the coming year.
5. Ecommerce is evolving differently across Europe
The European Ecommerce Report shows how ecommerce is changing across Europe. Belgium, the Netherlands, Germany, the UK, France, and Austria – their consumers have preferences that don’t always align. For example, Belgian consumers are more likely to shop in-store than online over the next 12 months compared to the rest of Europe, and French consumers are more likely to have concerns about insecure payments.
Delight shoppers, increase sales
If you’re running an ecommerce business, the European Ecommerce Report shows the key things you need to do to meet consumer expectations and excel in different markets.
Want to access the full report? Download it to discover:
– European consumers’ outlook on the economy
– The latest consumer shopping trends
– The things you can do to exceed expectations
– The reason 60% of shoppers abandon carts
– The main drivers of customer loyalty
– An in-depth analysis of key European markets