Whistl report flags UK consumers’ lack of loyalty to online retailers during tough times
Only 3% of UK consumers are loyal to online retailers and 83% of decisions will be made on price, according to a report from Whistl.
The company surveyed 1,000 people. In a time of economic pressure on household spending,
its report found that online spending will drop by 3% in 2023, although households with an income over £70k are expected to increase e-commerce spending by 8%.
Cost of delivery is now the main priority of consumers (54%) rather than speed (24%) and £5.95 is the highest price point before it has a negative impact on the ability to convert a sale.
Opportunities for business growth include retail subscriptions with 43% of the population open to the idea. Discounts naturally remain very important to entice new customers with 47% of respondents wanting them, followed by free delivery (39%).
When looking at media habits, Facebook was the most frequently used social channel with 61% using it daily.
The most often used channel by men was YouTube and Facebook for females. also provides insights on customer behaviour to returns, delivery, subscriptions, and social media use.
Nick Wells, Executive Chairman, Whistl, comments: “No doubt that the trading environment in the UK is challenging but it’s important that we help our e-commerce fulfilment customers navigate these times and help them to thrive.”
“Our report includes great insight into the current state of the market but most importantly profiles of what the consumer is thinking, which e-commerce retailers can use to enhance their online retail operations and grow their businesses.”
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