Amazon Rules The Online Retail World, But For How Long?
July 11, 2019
(Industry Intelligence Inc.)
– Amazon rules the online retail world. But will that distinction continue with the next generation of consumers?
That’s one of the main questions that was tackled recently in a report by global commerce consultancy Wunderman Thompson Commerce, which engaged with over 15,000 consumers who shop online across the US, UK, France, Germany, Spain, Czech Republic, Belgium and the Netherlands.
Among the report’s findings:
Thirty-six percent of all online retail spending internationally takes place with Amazon. However, shoppers ages 16-24 are less likely to believe the experiential power of Amazon compared to older shoppers.
Eighteen percent of Generation Z consumers said their brand selections were influenced by brand ethics when making a purchase decision. It is this factor that would lead them to choose an alternative e-commerce or physical retailer over Amazon.
When consumers are actively looking to buy individual products online, 56% of shoppers will head immediately to Amazon to direct their search.
While 51% say they go to Google and other search engines to look for ideas on products to buy, 33% opt for the same purchasing route on brand websites.
Beauty and health space is one industry where Amazon is not the top purchase destination for consumers. In fact, 24% of shoppers favor retailer e-commerce sites, while only 21% shop on Amazon.
One thing is clear: Amazon remains the biggest online retail giant. What’s less certain is whether that status will remain in the years to come.
Nevin Barich is the Consumer Products Analyst for Industry Intelligence, which can help YOU better address your own industry challenges. We invite you to come take a look at our service. Call us today at 310-553-0008 and we’ll schedule you for a 15-minute demo.