While in-store shopping provides a fun experience that’s hard to replace, there’s no doubt that online retail has become a popular way for all customers to shop.
Whether you need groceries, clothes, furniture, or something else, it’s easy and convenient to place an order online and wait for your packages to arrive.
As consumer preferences change and the way people shop changes, so do consumer demographics.
According to the Canadian Consumer Insights 2020 from PwC, online retailers should pay close attention to the buying behaviours of younger consumers, especially Gen Z customers.
The report shows there’s a 25% gap between Gen Z and baby boomer consumers who buy their products online at least half of the time.
Gen Z consumers are also more likely to use online options such as food delivery apps and meal kit services.
With life returning to normal more and more each day and we get used to how things were before the pandemic, online retailers need to think about how their businesses prepare to bring a pleasant experience for younger consumers.
Here are some considerations for online retailers to adapt well to changing preferences of online retail.
Working from Home
As working from home becomes more permanent to a certain extent, younger consumers are looking at ways they can shop with flexibility, options, and convenience.
As a response, online retailers must put more effort into ensuring that the sales orders are fulfilled, the purchasing process is easy, and customers can get their items quickly.
Transparent Supply Chains
As more people shop online, supply chains efficiency becomes more important.
Online retailers need to improve the transparency of order fulfilment, real-time inventory, transportation times, and warehouse costs to be prepared for an increase in online shopping.
40% of global retail professionals said product delivery enhancements were an initiative to prioritize.
Ensuring optimized delivery routes and on-time delivery of products will improve the customer experience and build more loyal customers.
Moving Forward in Online Retail
The future competition of online retail lies in which retailers can be prepared to anticipate and adapt to changing preferences of online retail, especially gen z shopping trends.
At SHEA Global, we help you assess your online retail business and provide the tools to help you make smarter business decisions, manage your supply chain, and build better customer relationships.
Want to learn more about how we can help you? Contact us today!