Tim Crouch
VP Strategic Partnerships, Europe at Rokt
Relevancy drives excitement, frequency and the foundation of loyalty. Nearly two-thirds of consumers expect companies to offer relevant products, services and experiences.
Brands and retailers are constantly looking to leverage first-party data to elevate the customer experience and drive revenue, factoring in changes in shopping habits. Giving insight into ecommerce trends, Rokt conducted a consumer research study alongside Harris Poll.
UK view of online shopping
The Harris Poll data shows that UK consumers have increasingly sophisticated expectations for online shopping. This, combined with the cost of living crisis, shows the urgency for effective advertising that shows customers the best deal and what they really need.
The global study — with respondents from the US, UK, France, Germany, Australia and Japan — compares trends with the UK:
- In the UK, 52% of consumers express a desire for increased availability of loyalty programmes, compared to a global figure of 42%.
- About 45% of UK shoppers want to see an easy checkout process, as opposed to 36% worldwide.
- An impressive 67% of surveyed UK shoppers express the need for relevant offers during the checkout process, which is 10% higher than the global average.
- In terms of checkout frustrations, 39% of UK consumers said that they were annoyed by an excess of ads, slightly above the global average of 34%.
- Having to manually input payment information was also a source of frustration, with 26% of UK shoppers finding it bothersome compared to 20% globally.
- UK shoppers exhibited a 5% higher likelihood (34%) than the global average (29%) to find a different site when encountering checkout frustrations or barriers.
By leveraging first-party data, analytics
and machine learning, brands can foster
customer enthusiasm and loyalty.
Generation Z believes in AI
The study found that Gen Z consumers are globally more optimistic about AI’s role in ecommerce, with 55% of respondents interested in an AI assistant that would make online shopping more convenient by simplifying product discovery and anticipating their needs and desires. Gen Z believe that AI will improve their online shopping, especially in these five ways:
- Compare prices (47%)
- Find deals (45%)
- Receive relevant offers and product suggestions (41%)
- Receive personalised assistance (37%)
- Find reviews (28%)
Driving relevancy through data is key
Achieving relevance is increasingly critical for brands. Faced with a vast array of choices, consumers are turning to brands that pre-empt their needs, streamline the discovery of personalised offers at opportune moments and facilitate seamless checkouts. Brands that neglect these risk higher cart abandonment rates. By leveraging first-party data, analytics and machine learning, brands can foster customer enthusiasm and loyalty.