With a post-pandemic world in mind, Syte, the visual product discovery platform powered by AI, is sharing an analysis of its e-commerce data across the fashion, jewelry and home decor vertical from January to June 2021 to provide insights on an anticipated retail revival.
As previously reported by WWD, consumers are feeling much more comfortable shopping in-store and are settling into “normalcy” as they make plans through wardrobe refresh purchases for upcoming events. Moreover, the National Retail Federation is now projecting up to a 13.5 percent growth in retail sales this year, up from its forecast of just 6.5 percent in February.
Among key findings from Syte, the company notes three very distinct shopper profiles emerging post-pandemic: the bulk buyer, the frequent fashionista and the doubtful decorator.
In a nutshell, Syte defines the bulk buyer as a high-value customer who “makes up the top tier of shoppers when it comes to the average order value.” While these shoppers are not necessarily buying the most expensive items, they are spending on a variety of moderately priced items, driving up average order value through cart size. On average, bulk buyers spend $621 per order when shopping on a desktop and $518 when shopping on a mobile device. Notably, these consumers are most active within the fashion category where they are seen purchasing about 5.8 items per order.
Similar to the bulk buyer, Syte’s data shows that the frequent fashionista shops on desktop and mobile. However, a key difference between the profiles shows that this shopper is more “obsessive” when it comes to online shopping, returning to favorite sites many times per month. Notably, most frequent fashionistas can be brought in by Facebook and Google Ads.
In contrast to both the bulk buyer and the frequent fashionista, Syte describes its third consumer profile as “one of the most frustrating shopper types brands and retailers encounter.” Named the doubtful decorator, the company notes that while these consumers are spending a long time shopping online and are seemingly engaged, they almost never convert. Worth noting, however, is that these shoppers concentrate on purchasing home décor items which takes more time, research and consideration than other categories.
Looking ahead, Syte shared two key forecasting trends, predicting what is to come in e-commerce in the months ahead. The first is that omnichannel will look different for every brand and the second is that shopper-informed discovery will emerge as a differentiator. Both, indicate that investments should be made to meet a brand’s specific shopper rather than following digital trends to create the best consumer experience.
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