Top 5 Ecommerce Buyer Psychologies to Understand After Covid-19

There’s no single pinch of doubt that the last year was a jackpot canon for the eCommerce industry!

The pandemic sprung the online business sector way too high that it touched the ceiling by a whopping $26.7 Trillion!

With more and more people turning to online shopping as a way to procrastinate or avoid crowds, it’s no wonder that entrepreneurs are flocking to set up their own stores.

But with all this new competition, how can you make sure your store stands out?

The thing is, with the current pandemic situation, it’s more important than ever to know how Covid-19 is impacting your buyers and their mindsets.

• What does the average eCommerce buyer think like?
• What motivates them?
• How do they behave differently in times of crisis, such as Covid-19?
• And most importantly, how do you tap into their psyche and create a buying experience that meets their needs and exceeds their expectations?

This blog post will break down the top 5 eCommerce buyer psychologies that emerged after Covid-19.

This will also help you understand what your audience wants so you can invest your capital, energy, and resources in the appropriate direction.

P.S – After reading this blog post, you will stop blaming COVID-19 for tumbling your business.

1) The falling loyalty towards brands

As per the recent e-marketer report, over 80% of online CPG shoppers abandoned their usual brand and shifted to a new one.

This is a severe matter of concern because once your consumers are gone; they’ll be nut-hard to win back.

Stocking problems, the surge in pricing, and supply chain issues are reported as the main reasons behind this.

Now, this may sound unbelievable, but more than 80% of US consumers experienced out-of-stock items in the last three months.

Out of this, just 13% waited for the item to restock, 39% switched brands or products, and 32% switched retailers.

How to tackle this psychology:-

If you consider this research, it is advisable to keep your stocks up. Back up your hot selling products with surplus production, and you might not lose your customers due to this new buyer persona.

2) Online reviews & recommendations are your new superpowers

Even before the pandemic, reviews & constructive criticism had a significant impact on an eCommerce brand.

Now post COVID, these customer feedbacks is what makes or fakes a brand.

Reviews are not just a source of information for consumers. It is one of the most impactful advertising of a brand’s credibility.

The more genuine & positive your reviews are, the better your conversion rate for fresh audience will be.

As per Nethues’s research on Bazaar voice’s data, the review submission is picking up 76% year over year compared to the previous decade.

How to tackle this psychology:-

Customer reviews are a true reflection of an individual’s feelings towards your brand. They are unfiltered marketing messages that could affect your SEO, Conversion Rate, Holistic Sales, etc.

To spear pass through this challenge, you can integrate a solid tracking system that collects real-time data and customer feedback results, so you can understand key success drivers, potential product failures and devise new improvisation strategies for your business.

Turn your business in the right direction!

Integrate customized technologies that are 100% made for your business

3) Priorities have changed!

The way we have passed through multiple pandemic waves, we forgot to realize how our shopping priorities changed alongside.

Earlier those days, shoppers were focused on stocking up masks, sanitizers, health gummies, books for kids, toys for children, gear for work from home, groceries, etc.

Now, the priorities have shifted towards home & garden improvements!

It’s not like those sectors are not seeing growth now, but not as significant as during the pandemic.

The new trending product categories we’ve researched for you include:-

• Grocery Commerce:20-30% of grocery brick & motors moved online post-pandemic.
• Toys & Games: A massive 128% increase in page views and 79% in order count.
• Animal & Pet Supplies: 75% rise in page views, 23% jump in order count, and 15% lift in review submissions.
• Software: As usual, the highest question submission growth at 102%, whereas page views and project count rise 44% and 32%, respectively.

How to tackle this psychology

Consumer buying behavior has slowed down but is still active at its best. Entrepreneurs who are planning to expand their horizons into different sectors or want to leverage a newly upraised industry, can pick any mentioned above.

Covid has certainly been fortunate for them! At least in terms of higher profit, if not anything else.

4) Social Media Becomes Sales Machine

A research study by Deloitte shows people are more likely to make a purchase when someone on social media recommends it.

In fact, brands should leverage this opportunity by creating organic and user-generated content. This would increase engagement, and ultimately sales conversion.

Justifying this action is this theory, that 75% of consumers bought a product after seeing it in a brand’s own social media post, conveying its importance.

Moreover, social channels have become a sales machine since Metaverse viz Facebook and Instagram introduced new shopping tools.

Nah, we aren’t telling you about that dated Facebook Shop. We are more pleased to get your attention over Live Social Shopping.

Metaverse Live Selling

Unlike checkout Facebook & Instagram shops, the live shopping experience allows audiences to make purchases recommended by their favorite creators in their live streams.

A checkout CTA would pop up in the stream to tap and add to the cart.

This new trend is a sure shot to boost your sales like a hot cake on the table. For newcomers, Facebook even offers an array of helpful practices.

You can rehearse your Facebook Live Sale in a private event with your friends. You can save your stream and share it on your feed, so people who missed it can follow up and your product remains on the sale line forever.

Read more about Live Shopping here.

How to tackle this psychology

Social Media commerce generated up to 3.4% of total eCommerce sales, according to Statista. And this number is going to rise in the future nearby.

We live in a time when most millennials believe that Social Media platforms are great spots for shopping.

The best strategy to leverage this new buyer psyche is by going aggressive on organic social media content creation.

Utilize every piece of Metaverse, and watch your business become future-proof.

5) A Cherry-Merry Holiday Season

The holiday season is a part of the year when you can expect growth in graphs of even low-spending consumers.

Following the studies, 50% of Millennials and High-Income groups are excited to spend more than merely 25% of low-income groups.

Social media has a genuine influence on this. With Metaverse, TikTok, and other streaming channels, including YouTube, bumps over 40% of sales during the holiday season.

And now, after the pandemic, a significant percentage of consumers are shopping early due to the pandemic supply chain challenges.

How to tackle this psychology

Prep your business up!

Level up your digital presence with unique strategies that help you rock the holiday season.

You will also see consumers seduced by great offers. Introduce more combo deals, discount plans, and loyalty programs.

Show them with your offerings that you care for their Holiday Season shopping.

This will also help you build a loyal buyers’ community for your brand. And, don’t forget to renovate your Social Media channels.

Last words

Are your customers feeling the same way?

If you’re looking to take advantage of these new buyer personas, contact us for help.

With Covid-19’s data in hand, we can provide insights into how people make decisions and what they want from their brands today.

We’ve helped countless companies launch successful marketing campaigns that made them stand out among competitors by giving prospects exactly what they wanted on time!

So if you want an expert assistance, simply drop your details at [email protected]

All the Best