12.1 C
Saturday, July 13, 2024

Whistl Discovers Online Retailer Loyalty Among Just 3% of Consumers

In a recent analysis of the e-commerce sector, Whistl’s report reveals a startling statistic: a mere 3% of consumers exhibit loyalty to online retailers. The study also highlights that a significant 83% of purchasing decisions are primarily driven by price considerations. Given the current economic pressures on household spending, the report further predicts a 3% decline in online spending in 2023.

However, amidst these challenges, the comprehensive report offers valuable guidance for e-commerce retailers on effectively targeting consumers and increasing sales. Notably, households with an income exceeding £70k are anticipated to contribute to an 8% surge in online spending.

Interestingly, the report identifies a shift in consumer priorities, with the cost of delivery surpassing speed as the main concern for 54% of respondents, compared to the 24% who prioritise quick delivery. Additionally, the study highlights that £5.95 represents the highest acceptable delivery price before it negatively impacts conversion rates.

The report also presents opportunities for business growth, including the potential of retail subscriptions, with 43% of the population open to the idea. Discounts remain a crucial tool in attracting new customers, with 47% of respondents expressing a desire for them, followed closely by free delivery (39%).

Examining media habits, the report identifies Facebook as the most frequently used social channel, with 61% of respondents utilising it on a daily basis. Men predominantly turn to YouTube, while Facebook remains the platform of choice for females.

Whistl’s report goes beyond these findings, providing unique consumer online profiles based on demographics, online expenditure, and attitudes toward spending in 2023. It also offers insights into customer behavior regarding returns, delivery, subscriptions, and social media usage.

Nick Wells, Executive Chairman of Whistl, acknowledges the challenging trading environment in the UK but underscores the importance of assisting e-commerce fulfillment customers in navigating these times and thriving. He highlights that the report not only sheds light on the current state of the market but also offers consumer insights that e-commerce retailers can leverage to enhance their online operations and drive business growth.

Conducted in Q1, the research by Whistl involved a UK representative panel of 1000 individuals. To access a copy of the research, visit: https://www.whistl.co.uk/continuetothrive

Sam Allcock
Sam Allcockhttps://businesslancashire.co.uk/
Sam Allcock is a highly regarded digital entrepreneur with over 20 years’ experience in online marketing for some of the World’s biggest brands. He has extensive knowledge and experience in SEO and digital marketing. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.


Wimbledon 2024 final: Alcaraz through after win vs Medvedev

Holder Carlos Alcaraz held off world number five Daniil...

Thomas Kneale’s Brett Mendell awarded ‘Advocate of the Year’ award

Brett Mendell - the managing director at bedroom and...

Legal expert reveals steps to take after personal data breaches

A legal expert has outlined what to do if...

UK Home Appliance Factory Contents Go Up for Auction

NCM Auctions, a specialist auctioneer and asset management firm,...

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Manufacturer Metamark delivers grand donation to Morecambe Bay Foodbank

Lancaster-based manufacturer Metamark, has delivered a £10,000 donation to...

UK Home Appliance Factory Contents Go Up for Auction

NCM Auctions, a specialist auctioneer and asset management firm,...

Wimbledon 2024 final: Alcaraz through after win vs Medvedev

Holder Carlos Alcaraz held off world number five Daniil...

Best Horse Racing Betting Apps In The UK – July 2024

If you are looking for the top horse racing...

More News

More than 1,500 shoppers descend on UK’s first Millstores in Cleveleys

The UK's first Millstores - which sells furniture, homewares, bedding and more - has opened in Cleveleys. In what was planned as a soft launch,...

Divine Mats announces luxury Islamic prayer mats with a modern twist

With innovative prayer mat designs, Divine Mats leads the way in luxury Islamic prayer mats. Their latest collection seamlessly blends tradition with modern style,...

Preston Outdoor Market reintroduces Friday trading

After a hiatus of several years, Preston City Council is bringing back Friday trading at Preston’s outdoor Market. This move brings the outdoor market back...