Connected devices in 2018: 8 billion
Connected devices in 2020: 20 billion
The online world is dramatically changing the way we do everything. Many may argue that digital connection is already at its peak, but they’re wrong. It’s still increasing, and there are still people who are not yet connected online. The world is transforming, and by 2020 there is expected to be 20 billion connected devices. Can you believe that?
Being connected to everything at all times is changing how consumers behave with retail stores. The digital shopping market is huge. Digital shoppers represent 1.8 billion of the global population… Hold on tight because it gets better! Keep reading to learn more crazy statistics!
So, how is digital transforming retail?
1. “Just Google it?” We are curious.
People aren’t just looking to buy products they have already bought. We are curious. We want to search and find the best. This is why promoting yourself on Google is so essential. If you are not doing so, then people simply just don’t know you. Make yourself known, use digital marketing to show off your amazing business.
According to Google:
- 15% of searches happening on Google every year are new – that is, they’ve never been searched before.
- 45% of purchases prompted by something seen online
- 85% of mobile searches for “where to shop/buy” have grown by 85% in 2 years.
Remember our article all about how reviews are extremely important nowadays? Well, in the past 2 years, videos with the title “review” had more than 50,000 years worth of watch time on mobile alone. Crazy right!?
2. We are so demanding!
Me, me ME! We are demandingly expecting things from retailers. For holidays, we expect promotions and discounts.
- Mobile searches for “___for me” have grown 60% over the past 2 years.
- 58% of US shoppers expect to receive promotions/deals specific to their past purchases.
3. We’ve become impatient
Did you know our attention span has been constantly decreasing over the years? Studies assume this is because of digital! Our digital world is fast and furious. We get what we need fast and in the moment. We have no patience to wait, and even less patience online. We expect things to come up on search results and to load fast.
Over the past two years, mobile searches for same-day shipping have increased by 120%
- 41% of holiday shoppers wish stores would do a better job of sharing inventory information
- Global in-store sales influenced by digital touch point grew 53% from 2004 to 2017.
With the rise of digital, retail stores need to:
Be there
If you are not visible online, people will not simply find you. If customers can’t find enough information to be able to make their purchasing decision, then you are non-existent to them. Many retailers make the mistake of not having an online presence because they think it does not matter if they have a physical store. Even if you are not doing online shopping, you still NEED to be present and there for your searching users. Start your promotions and holiday products early!
- 55% of holiday shoppers are beginning research in October or earlier.
Be valuable
Study your audience and know what they are looking for. The best way to create a need and value is to connect with them and build relationships. By understanding their interests you can really focus on what they want to see. They are looking for differentiated, penalized shopping options.
- More than 50% of holiday shoppers say they are open to purchasing from new retailers.
- 67% of smartphone users now agree that they look for the most relevant information instead of who the seller is.
Be quick
Users want to shop right then and there. Do not make them wait too long, or they will leave. Allow them to have a seamless experience. If your page takes more than 3 seconds to load, half of all visitors will exit out.
By 2020, those 20 billion users will all be connected and shopping online. This does not mean that it’s over for retail stores. Consumer behaviors are just changing, and it is transforming the way you should market your business. Even if your product is not purchased directly online, people want to see it online while they do their research. Have an online presence, have something that makes you stand out from your competitors, and know what your customers want.
