The key to having a successful e-commerce business is getting to know your customers. What are their names? What is important to them? How do they like to shop? Your company’s success may be boosted by utilising all of these information to better your business plan and increase your customer’s experience.
Our research team with the participation of over 1,000 adult U.S. consumers was published in this guest blog post as an analysis of the results. You may learn about the top nine trends they uncovered regarding Walmart shoppers and how they might impact your business.
1– They value flexible returns
Customers who recently purchased from Walmart.com cited the convenience of returning items to their local Walmart (29 percent) and Walmart’s return policy as reasons for doing so (25 percent ).
It’s a drawback of internet buying because buyers can’t actually touch and feel a goods before making a purchase. For example, a consumer can try on many pairs of trousers in a retailer before making a purchase. If a product doesn’t fit or doesn’t work out, buyers have to put in the extra effort to buy it online and return it if necessary.
Customers and sellers may both benefit from Walmart Marketplace’s Enhanced Returns experience. By enabling Walmart to manage the returns process, sellers may reduce their return logistics costs and optimize their operations while customers can purchase online and return it at any of the 4,700+ physical Walmart locations.
It is critical to allow customers to return things they purchase online in a manner that enhances the customer experience and creates brand loyalty.
2– They have recently experienced big life events
Keep an eye on what your consumers are going through, since these events can have a big impact on their spending habits. In 2021, these are some of the most anticipated events in the lives of our consumers.
20% of people have adopted or purchased a pet (and 24 percent have recently started spending more on pet supplies).
There were 18 percent new jobs, 23 percent working from home, and 11 percent lately setting up an office space for working from home. Office supplies and furnishings may be on their shopping list.
18 percent of those who relocated did so to a new location, and 42 percent of those who relocated did so to a larger location. 13 percent of respondents have also just completed house renovations. As a result, buyers may expect to see an increase in demand for house furnishings, decorations, and other necessities.
Home gyms are installed in the homes of 13% of consumers. Even while putting together a home gym isn’t a major life event, it’s nonetheless neat and useful information for a Walmart fitness goods merchant to have.
3– They are influenced by social media
Online buyers consider purchasing things that have been suggested to them when shopping (56%), and almost half do so when using social media to find products to buy (40 percent ). Getting your goods on Walmart Marketplace isn’t enough. You need to keep an eye on it. Influential social media sites like Facebook, YouTube, Instagram, and TikTok are critical for building brand recognition.
As many as one in four people follow fashion and beauty gurus on social media. These social media influencers, particularly among adolescent and young adults, can have a direct and immediate effect on consumer purchasing decisions.
4– They are budget-conscious
Customers of Walmart.com are on the lookout for the best prices, in keeping with the company’s motto, “Save Money. Live Better.”. Consumers identified “lower pricing” as the #1 reason they shop on Walmart.com, and 41% decided to buy from Walmart.com above other marketplaces because they enjoy Walmart’s prices.
Product pricing is complicated and depends on several aspects; therefore, retailers shouldn’t just try to cut their costs to attract more budget-conscious customers. Your pricing strategy and product selection on Walmart.com might be aided by an understanding of the yearly family income of your target consumer.
You may also enhance your conversion rate with customers shopping for the cheapest items by making your offers more competitive, which increases the likelihood that you will win the Buy Box. Strikethrough pricing and ‘Reduced’ or ‘Clearance’ flags can be used by Walmart Marketplace vendors to highlight consumer savings on Walmart.com.
5– They have shipping preferences
Online consumers have grown to anticipate rapid delivery, so it seems natural that 32 percent of Walmart customers are opting for the fastest shipping option. For the most part, customers prefer shopping at Walmart.com over other online stores because of the speed with which they may get their purchases.
With 42 percent indicating they hunt for items with the lowest delivery costs, and 31 percent stating they choose Walmart.com above other alternatives because Walmart offers free-shipping, customers prefer speedy and affordable shipping options. With Walmart Fulfillment Services (WFS) and Walmart TwoDay and ThreeDay delivery, merchants may deliver a wide range of items swiftly and economically. WFS and Walmart TwoDay and ThreeDay delivery are examples of flexible, low-cost fulfilment solutions.
Because of the importance of rapid and free shipping to Walmart customers, offering these alternatives can boost the chance of a transaction.
6– They care about reviews
Products and brands may be made or broken by customer reviews, which have the potential to impact both good and negative consumer decisions on ecommerce marketplaces. Three-quarters of Walmart shoppers say they are influenced by product ratings (32 percent) and reviews (32 percent) that include images or videos (29 percent ).
There are several methods you may improve your reviews as a vendor.
Manage consumer expectations while still delivering a high-quality product. Overpromising is a common error made by sellers. I’m sure your items are fantastic, but you should be upfront with your customers about the restrictions of each one (e.g., this item cannot be dried since it will shrink). If customers are aware of such limits before to purchase, they will be less likely to become dissatisfied.
Your consumer will be delighted to obtain rapid care for their problem if you respond to customer communications swiftly and with a good attitude. As a result, even dissatisfied customers are more inclined to submit good ratings if the service they received was great.
You need to sell more products! Reviewing is a numbers game. You need to raise sales to enhance your chances of getting a good review from a customer who is more inclined to do so. Optimizing your listing, your keyword approach, and your advertising efforts can lead to more sales.
