Except perhaps for the perpetually ruling metric of price, brand loyalty in 2023 is largely determined by the convenience, safety and service components of brand and retailer websites. New research from global business intelligence and risk prevention provider ClearSale provides insight into the attitudes and behaviors of consumers across age, gender, nationality, and online shopping investment on their ecommerce experiences, providing a practical tool for retailers looking to stay ahead of emerging trends and improve customer experience, all while driving growth through confidence and loyalty.
The firm’s annual State of Consumer Attitudes on Ecommerce, Fraud, & CX 2022-2023, based on a survey of over 750 online shoppers in the US, Canada, and Mexico, as well as the Latin American countries of Colombia and Argentina, includes a retrospective of data gathered since 2020, which has been a critical time period for online retailers.
To thrive in the post-pandemic era, retailers must balance the ebb and flow of online shopping traffic changes, the economic state’s impact on buying behaviors, and the CX expectations of increasingly demanding consumers. This report offers ecommerce sellers an overview of the industry’s paradigm shifts and points to the gaps and potentials that will guide retailers to success.
Among the key findings:
Consumer spending is leveling out
Sixteen percent of consumers spent between $200-400 per month on ecommerce purchases in 2022, compared to 19 percent in 2021.
Local shops maintain loyalty, even online
More than half (54 percent) of consumers say they prefer buying from local shops online, compared to 6 percent preferring overseas retailers.
Important differences in generational shopping have emerged
Millennials and Gen Z exhibit noticeably different expectations and behaviors from Gen X and Baby Boomers when shopping online.
Fraud schemes continue to evolve
Nearly half of consumers surveyed reported experiencing more fraud in 2022 than the previous year.
Consumers prefer fraud prevention over convenience
A large majority (86 percent) of shoppers prefer fraud protection over easy checkout, and 81 percent understand that prevention may require a store to contact them for confirmation.
The report helps online sellers grasp the needs of their particular audience. For instance, variations in generational buyer habits and behaviors span the data categories, from frequency and spending to personalization expectations to fraud management. Fifty-four percent of Gen Z and Millennials shop online 3 to 4 times a month, while 59 percent of Gen X and Baby Boomers shop only once or twice a month.
“Ecommerce retailers truly need to understand their consumers,” said Sarah Elizabeth, ClearSale’s managing director of product marketing, in a news release. “Who are they? What are their expectations? They must think about how each generation makes purchases and what their motivators are for buying, and then design websites accordingly.”
The data also points to clear changes in buyer attitudes regarding fraud and identity protection. While previous preferences were for near-frictionless checkout experiences, today’s consumers are more savvy about the risks associated with online shopping. However, consumers remain intolerant of false declines, with 41 percent stating they will never return to a store after having a transaction falsely refused.
Collectively, the data reinforces that merchants need to be prepared to address shifting, and sometimes conflicting, consumer expectations. “More consumers have, of course, become comfortable with online shopping,” said Rafael Lourenco, EVP and partner at ClearSale, in the release. “With that comfort, however, comes a level of sophistication and requirements in their online shopping experiences. It’s crucial that merchants design experiences that meet their customers’ expectations. If they don’t, there are others in the market that will fill that gap instead.”
