CONSUMER PROPENSITY REPORT 2018 SAP
Find the most interesting insights from SAP’s latest Consumer Propensity Report.
CONSUMER PROPENSITY REPORT 2018 SAP
Australians love to shop online but what inspires a quick checkout and what drives consumers to walk away from their shopping carts? Brands everywhere are looking for ways to reduce cart abandonment by customers, but with more than a quarter of Australian shoppers abandoning their carts at least half the time, it’s a tough nut to crack. SAP asked 1,000 Australian consumers about their use of online shopping; and what their favourite brands do to make them click ‘purchase’. Below are some interesting results – including the key reasons carts are abandoned and what customers would really like to see from brands.
ecommerce cart abandonment data chart australia – sap consumer propensity study 2018
Expensive shipping cost is causing more than half of Australian consumers to ditch their shopping carts (not buy online) before completing an online purchase, according to the SAP’s Consumer Propensity Study. 57 per cent of Australian consumers ditch their online shopping carts, with 60 per cent stating this is due to high shipping costs associated with shopping online.
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REPORT KEY FINDINGS – CONSUMER PROPENSITY 2018 by SAP
- Australian consumers are ditching shopping carts more often than those in Europe (41 per cent) and North America (47 per cent), and 53 per cent of Australian consumers stated that discounts and promotions succeed in nudging them to complete a purchase.
- Australian consumers have a high tendency to abandon virtual shopping carts, particularly in the product categories of fashion (67 per cent) and furniture (65 per cent), and 46 per cent are using online carts as a way to compare prices with other brands and websites.
- Price is not the only deciding factor, another driver of cart abandonment is stock availability. Almost a third (32 per cent) of consumers give up on their carts due to out-of-stock items, and 29 per cent don’t purchase if they see longer-than-expected delivery times.
products australians are comfortable buying online – sap consumer propensity study 2018
australian consumers wish list – sap consumer propensity study 2018
SAP said to the media that the findings demonstrate retailers need to be conscious that their supply chain and logistics decisions can impact sales. “Reviewing cart abandonment data provides a starting point for retailers to identify friction points in the consumer journey and make improvements to the overall purchasing experience”, said SAP Customer Experience vice-president of marketing, Asia-Pacific Japan and Greater China, Jennifer Arnold.
what australians buy online – sap consumer propensity study 2018
“The findings show customers want the basics done right and are willing to move on to other brands if they aren’t receiving the best experience possible. Today’s customers are taking charge of the relationship they have with brands, and don’t think in terms of B2B or B2C, but ME2B. The results point toward a deeper ask for engaging buying experiences tailored to customers’ individual needs and lifestyles, which extends to ongoing service and support.
KEY TAKEAWAYS
Brands need a robust omni-channel approach based on having a view of the customer across all touchpoints at all times, and advanced analytics to anticipate customer behaviours and understand their real-time intent. Brands need to ensure their business processes and systems are integrated with the experiences they deliver to their customers. With this in place, brands will be able to provide a personalised and responsive consumer experience before and after the checkout process.
CONSUMER PROPENSITY REPORT by SAP
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