One of the best things that modern technology can offer us these days is the convenience of online shopping. From personal needs, home furniture, up to expensive cars, everything can now be bought online with just a single click. It is believed that social media has a great impact on online consumer behavior. With the recent global pandemic, the number of digital consumers skyrocketed rapidly. As a matter of fact, the worldwide rate of online shoppers is expected to rise from 14.1% to 22% by the year 2023.
Online Consumer Behavior
Purchasing things online make our shopping experience easier and effortless. But did you know that your behavior as an online consumer is greatly influenced by many factors? It may not be as obvious, but your decision-making practice is a combination of many elements related to online shopping.
According to studies here are the common factors that often affects online consumer behavior:
- Financial concerns. When it comes to spending, the older generation and younger consumers have two different perspectives on the possible risks of online shopping. Oftentimes, the elderly are highly concerned about sharing their financial accounts information online. In contradiction, younger consumers are less bothered by this risk and remain avid online shoppers despite the growing number of scammers online.
- The expectation vs reality dilemma. If you have been online shopping for quite a while, then you will understand how frustrating it gets to receive a product that does not meet your expectation. Naturally, sellers will post the most attractive images of the things that they are selling. Unfortunately, this is just another form of a scam just to attract more buyers. Because of this, your behavior as a consumer will be affected and you will more skeptical about buying online next time.
- Convenience. This is probably the topmost reason why the number of online consumers is rising. With the internet and phone, you can basically buy anything you want in the comfort of your own home. You will not be worried about the trouble of getting stuck in the traffic, finding a parking spot, and going in circles just to find specific items.
- Fear of Non-delivery. Let us admit it, one of the horrors of online shopping is not receiving the items that you purchased after spending money on them. This happens not only on international deliveries but on local shipping as well. The worst part is trying to trace the location of your package and not coming up with a resolution. This affects the consumer’s behavior in a way that they will be more cautious the next time they purchase a product online.
- Broken or damaged goods. Your order might arrive on the promised date but the other thing that you will have to worry about is the actual state of the product once it reaches your door. You see, responsible sellers usually check the quality of their products prior to shipping, but in rare circumstances, the item gets damaged during the shipment period. This will substantially affect your behavior as a consumer.
- Social media. Online shops have started dominating social media for a few years now. Sometimes, you don’t even realize that you are already checking out a new product release that you see on your Facebook timeline. Next thing you know, you’re already checking out an item you don’t even need.
- Shop policies. Each online shop website has its own rules and regulation for the safety of the consumers and suppliers. Sometimes these policies don’t meet your personal preferences, hence, your behavior towards a specific shop will change.
- Seller and buyer differences. With technology and advancements in shipping and delivery procedures globally, online shopping has become more prevalent and uncomplicated. But one thing that concerns consumers is the fact that some item descriptions online are in a different language. This makes online shopping a bit challenging most especially if you are looking for a very specific item that can only be bought in one shop.
We all have different behavior when it comes to making a decision, spending money, and trusting shops. But generally speaking, we all want a convenient and hassle-free shopping experience regardless of the risks that come with it.
4 Types Of Consumer Behavior
There are 4 different consumer behavior that researchers stand by. Each of these 4 has different qualities and distinct standards when it comes to online shopping.
- Complex behavior. This is a kind of behavior where the consumer typically studies the product before buying it. They do not conform to the “I want it, I buy it” principle. They take time to check if the item is actually useful and necessary.
- Dissonance-reducing behavior. Sometimes you are torn in choosing between 2 different kinds of products. When you cannot make up your mind because you know that the other one is more practical but your conscience is telling you that the other item is more useful, that’s dissonance-reducing behavior.
- Customary behavior. This behavior is exhibited by consumers who are not concerned with product brands or categories. They just typically buy whatever they need.
- Variety hunting behavior. Some consumers prefer to have a variety of one specific item. Oftentimes, it’s not about the function of the product, they just want to have different options available at home.