Domingo 21 de Octubre 2018

How Amazon Changed Shopper Expectations

PowerReviews Releases Research Paper Detailing How Shoppers Demand
and Seek Information

CHICAGO–(BUSINESS WIRE)–#PowerReviewsPowerReviews,
a leading provider of ratings, reviews and question-and-answer
technology to more than 1,000 global brands and retailers, today
released a new research paper detailing Amazon’s rise and how the
retailer’s dominance has changed shopper expectations. The paper is
based on a survey of more than 1,000 U.S. consumers aged 18 and over. It
explores behavior and contributing factors to Amazon’s dominance, plus
steps that brands and retailers can take to compete.

“Amazon accounted for almost half of all 2016 online holiday sales and
is the undisputed e-commerce market leader. Our survey found that
consumers biggest pain point pre- and post- purchase was not having
enough information. Amazon provides rich content in the form of product
reviews, photos, videos and descriptions to build trust. Consumers have
come to not only rely on this information but expect brands and
retailers to provide it as well,” said Matt
Moog
, chief executive officer, PowerReviews.
“Retailers are under no illusion about the competition they face but
they have the tools compete and win by providing relevant content and by
utilizing loyalty programs to increase engagement and conversion.”

The survey found that 71% of shoppers make at least one Amazon purchase
a month. Shoppers cite the following reasons:

  • Variety of Products: 79%
  • Free Shipping: 64%
  • Better Deals: 60%
  • Volume of Customer Reviews: 55%
  • Search Capabilities: 54%
  • Mobile Experience: 29%

Additionally, 70% of surveyed shoppers use brand or retailer sites to
research their purchase before navigating to Amazon to complete the
transaction, a cause of frustration for retailers. Amazon is shaping the
e-commerce landscape with detailed product information, authentic user
generated content, and loyalty perks that consumers now expect.

Our survey found two main themes, noting that Amazon is both consistent
and trustworthy. Consumers have come to rely on Amazon to delivery
everything from daily essentials to the higher priced splurge items.
Unlike a typical loyalty program offering discounts, Amazon Prime
charges customers a membership fee in return for benefits such a free
shipping and free videos. In return, shoppers are fiercely loyal. Amazon
has raised the bar for all retailers and brands who are struggling with
how to compete in this new and complex world.

Table Stakes: Our survey confirmed that free shipping and returns are
table stakes for e-retailers:

  • 84% cited free shipping as a compelling incentive
  • 62% were tempted by the offer of free returns
  • 29% found reordering ease enticing

Through its Vine program, Amazon is also redefining loyalty by focusing
not only on customers who frequently buy products, but also on customers
who frequently contribute useful reviews with perks such as free samples.

Differentiators: Shoppers are attracted and retained through the
following perks:

  • 33% of consumers would like free products
  • 29% cited loyalty points
  • 27% want early access to sales
  • 19% are intrigued by early access to products

To read the full white paper please visit, http://www.powerreviews.com/event/compete-with-amazon/
or listen to a breakdown on the survey results in a webinar
recording
with Theresa O’Neil, SVP of Marketing.

About PowerReviews

PowerReviews works with more than 1,000 global brands and retailers to
increase conversion and improve products and the customer experience
with ratings and reviews and Q&A software. PowerReviews unifies and
amplifies the voice of the consumer throughout their journey, across all
channels to help consumers make better purchase decisions and to help
businesses drive conversion and improve products and services. Ratings
and reviews solutions from PowerReviews are essential for consumers as
they search and shop online and in-store, driving traffic on more than
5,000 websites, creating actionable insights to improve products and
services, increasing conversion, and growing online site-wide sales up
to 17 percent. The PowerReviews Syndication Network reaches 1,200
retailers and more than 700 million in-market shoppers every month,
giving retailers and brands the power to reach shoppers wherever they
are. For more information, visit www.powerreviews.com.

Contacts

PowerReviews
Jenna Nichols
312-763-6404
jenna.nichols@powerreviews.com