4 Buying Behavior Trends in 2021

Consumers globally are in the middle of the largest and fastest shift in shopping behavior since decades. The prolonged impact of the COVID-19 pandemic is totally changing how consumers buy and pay for their products online. We've talked a lot about the consumer behavior shift before, but how exactly it will be different in 2021? And what does that mean for the future of retail in general, and the future of eCommerce specifically? Let's take a look.

Some of the top drivers of consumer decisions have now become safety, value, convenience, and availability. Also, customers have finally discovered the ease of e-commerce fully - and they are hooked.

New Consumer segments move online – COVID-19 has caused an inflection in eCommerce penetration globally driven by lockdowns and social distancing. This has pushed new customer segments, such as the baby boomers into online buying. Even though the trend of online shopping is highest among Millennials and high-income shoppers, the Boomer generation, who is generally less digitally fluent, had to adopt. A recent report by McKinsey found that 80% of consumers who have adopted online shopping behavior plan to continue, which means there's a bigger online audience of older shoppers than ever before.

After COVID-19 suddenly disrupted the world, many businesses shifted online and accelerated themselves towards digital transformation. Everyone is now more or less used to the idea that everything can be purchased online and digital experience desires move from preference to expectation. Buyers will place more value on their overall buying experiences and they will look closer and estimate every single step of their shopping journey. Here you can find more on particular trends in eCommerce for 2021. Personalizing the experience for your customers starts with the data you have available on them. Create detailed customer personas and use these personas to guide the content you share with each customer. Send relevant and timely triggers for a price change, give them all discounts available right before the purchase and make the experience as simple as possible.

Moreover, such shopping pattern as a larger cart size, less frequent shopping will take place. Buyers are avoiding physical contact with retailers and delivery executives and are also sanitizing or keeping their goods out for a few days. This trend has resulted in people ordering in bulk and less frequently.

Contactless delivery is another new word in our vocabulary this year, which will also stick in 2021. Another thing is a need for faster and hyperlocal delivery: eCommerce was earlier disrupted with expedited delivery options for select segments and items. With the pandemic, we are seeing a steep demand for faster delivery options, especially for essential segments such as groceries, health, and household. A recent survey found that 66% of the consumers are ready to pay to upgrade to 'fast' shipping. With most of the household shopping done online, consumers prefer free shipping and delivery for their orders, with easy and safe returns and pick up options.

This buyer behavior trend is growing rapidly and In fact, surprisingly fast as various surveys have shown as much as 40%-50% of buyers desire seller-free interactions. It is anticipated this will grow and not be an isolated pandemic trend. Business leaders will need to figure out the balance between allocating resources to digital technologies and reducing sales resources.

For better or for worse, Covid created a physical void that eCommerce will have to continue to fill. A highly interactive UX, plenty of reviews, photos & videos of products, free and fast shipping options, great rewards, and loyalty programs– all that can grow your customer retention and bring new customers on board.

But you should also realize that buyer goals have changed and will continue to shift. So in order to stay closer to your customers, you will need to work pretty hard at it. The future of eCommerce is competitive, but we are always here to guide you through.