Funding Roundup: Skycell, Blubirch, Connectly and Others Blaze Forward with Funding Victories
It has been an outstanding week for startups in the e-commerce, logistics and supply chain space. Check out 6 of their amazing achievements: Skycell, Blubirch, Connectly, Bull Agritech, Almouneer and Ora Technologies.
Nov 03, 2023
UPS to Acquire Happy Returns, a Leading Player in Reverse Logistics, from PayPal
With this strategic move, UPS aims to streamline and extend no-box, no-label returns throughout the United States, addressing a persistent e-commerce challenge.
Oct 26, 2023
Funding Roundup: Lottie, Creative Force, Oorjaa and Others Land Fresh Funding
It has been an outstanding week for startups in the e-commerce, logistics and supply chain space. Check out 6 of their amazing achievements: Lottie, Creative Force, Oorjaa, Relewise, BIVA Analytics and Tripplo.
Oct 20, 2023
Preparations for Peak Season 2023 Report
Get ready for Peak Season 2023 with our report covering the latest trends, expert advice, and insights to maximize sales.
Oct 19, 2023
Funding Roundup: Meolaa, Loop, Pickle and Others Achieve Capital Infusion
It has been an outstanding week for startups in the e-commerce, logistics and supply chain space. Check out 6 of their amazing achievements: Meolaa, Loop, MyDello, MarketLeap, Pickle and Velostics.
Oct 13, 2023
Preparing Your E-Commerce Logistics for Peak Season 2023
This is your chance to learn peak season tips from Natalie Frow, the Managing Director for Retail at DHL Supply Chain; Dennis Li, General Manager of Cainiao Europe Parcel Network; and Ricky McAulay, Operations Development Director at Royal Mail.
Oct 12, 2023
5 Shopping Trends You Should Know for Peak Season Success
By understanding and embracing these holiday shopping trends, retailers can create a unique and engaging shopping experience that fosters customer loyalty, and boost sales during peak season 2023.
Oct 10, 2023
Funding Roundup: Ergos, Resourcify, Boxbot and Others Celebrate Funding Boost
It has been an outstanding week for startups in the e-commerce, logistics and supply chain space. Check out 6 of their amazing achievements: Resourcify, Boxbot, Ergos, Yaysay, BoomGrow and Giftpack.
Oct 06, 2023
Introducing the Parcel Monitor Global Carrier Database: Retailers’ Trusted Source for Logistics Partners
Backed by thousands of robust performance data points, Parcel Monitor's Global Carrier Database offers a rapidly expanding and unparalleled repository of logistics companies across the globe.
Oct 05, 2023
Canada Post Opens $470M E-Commerce Hub to Double Sorting Capacity
The new facility can efficiently process over 60,000 packages every hour and has earned the title of Canada Post's largest, swiftest, and most environmentally friendly parcel sorting center.
Oct 04, 2023
Why Logistics Data Matters in Retail
What exactly is logistics data? What are some real-life applications of this “data” that we speak of? Find out here!
Oct 03, 2023
Shift in Consumer Shopping Behavior
Shift to Online Shopping
The worldwide pandemic accelerated digitization and e-commerce growth, leading to a shift in consumer shopping behavior in recent months. So how has consumer shopping behavior changed? Specifically, more consumers are turning to online stores rather than conventional retail establishments. For instance, due to the impact of Covid-19 on consumer shopping behavior, people in Southeast Asia were migrating online for food delivery and supplies. Businesses similarly switched their operations online in order to reach out to customers who made a shift in buying behavior after physical stores were forced to close. Nevertheless, with the world returning to a ‘new normal’, retail and ecommerce businesses should adopt an omnichannel strategy to capture consumers regardless of channel.
Factors Affecting Consumer Shopping Behavior
There are three factors that influence consumer shopping behavior, which assist in understanding consumer behavior. They include research, recommendations and reviews, and returns. The first one is research. Buyers are increasingly conducting their own “research” before visiting a retailer’s location or website to buy a product. Next, recommendations and reviews have a significant impact on consumer shopping behavior. As a first step in acquiring preliminary information about an item or service, customers prefer to go online to read user feedback and expert reviews. As a result, merchant-sponsored information—including retailer blogs, advertising, user guides, and so on—is losing ground to user-generated reviews and content as the primary influences of purchase decisions. The last factor is returns, which have become an accepted part of both the buying process and business. Many reasons may cause returns, such as consumer dissatisfaction, consumer’s remorse, and at times due to buyers not examining the product carefully before purchasing products.
Consumer Shopping Habits Post-pandemic
Because of the impact of Covid-19, online shopping has become one of the most prominent consumer shopping behavior trends. That being said, in-store shopping still remains relevant.Surveys have shown that consumers plan to mix in-store and online shopping. Moreover, consumers are discovering new e-commerce delivery methods such as curbside pickup or collection points delivery. We believe these shifts in consumer shopping behavior are likely to persist even after Covid.
Types of Consumer Shopping Behavior
The first is complex buying behavior, which is used when purchasing a product that is expensive, rarely purchased, high in risk, self-expressive, and a one-time investment. Thus, the consumer has to spend a long time examining the alternatives, form beliefs and attitudes about the product, and then decide to buy and invest. The second type of consumer shopping behavior is dissonance reducing purchasing behavior. Such behavior is primarily concerned with eliminating post-buy dissonance as a result of past purchase unhappiness. The third type is habitual buying behavior. This behavior is often observed if the product is inexpensive and purchased regularly Finally, variety seeking buying behavior is seen if a consumer shifts between brands not because they were dissatisfied with their prior purchase, but because they want to try out something new or different.