TGM releases one of the world’s most comprehensive surveys that sheds light on the evolution of e-commerce in the post-COVID-19 society.
SINGAPORE, January 17, 2023 /24-7PressRelease/ — Lockdowns and social distancing measures related to the pandemic have heavily impacted economic and social activities alike, leading many to turn towards e-commerce. Even after the restrictions are lifted, the transition from brick-and-mortar stores to online retailers will undoubtedly continue since e-commerce is here to stay as an integral part of our lives moving forward. To mark the new era of global economy, TGM Research has conducted a global survey that examines the current state of digital transformation and e-commerce across 5 continents and 33 countries. This survey reveals how customer’s expectations, needs and behaviors have changed throughout the years when it comes to online shopping. The findings also provide an indication as to how businesses have adapted their online models in response to the changing market environment.
TGM Research CEO, Greg Laski, commented: “Paradoxically, the social isolation that the pandemic brings has caused us to be more interconnected than ever before. Local customers now learned that they could purchase items from any area through e-commerce platforms, elderly shoppers have grown to be more adept at online shopping, and more comfortable doing so without the support of younger people. The public in general also grew accustomed to receiving packages at their doorstep. It is undeniable that the COVID-19 has prompted an unparalleled transformation in how consumers shop and purchase goods.”
In order to enable our readers to take an all-encompassing view of the e-commerce market landscape in each locale, we have put together a substantial sample consisting of over 12,200 consumers from 33 countries. The following includes an overview of some noteworthy findings as well as a more in-depth analysis of the global consumers outlooks and perspectives:
• Online purchase frequency: Over the last 12 months, numerous individuals have routinely engaged in Internet shopping, with 54% claiming to do so more than once a month. E-commerce has exhibited significant growth momentum in the MENA region thanks to applicable regulations and policies, with 35% of respondents shopping online on a weekly basis, surpassing that of other regions. In Latin America, online shopping has not achieved its fullest potential considering the noteworthy portions of users in this region who shop online once a year (6%) or never shop on the Internet (12%). These figures were more prominent than in other regions.
• Device of choice: Smartphones were the top choice of device customers, with 75% of respondents worldwide using them to make online purchases. The MENA and APAC regions likewise had the highest usage rates for this gadget, at 89%. Meanwhile, 57% of Europeans resorted to computers to shop online, just 5% down from those who use smartphones. This signaled that computers were also greatly employed for online shopping across this region.
• Best-selling products: On a worldwide scale, clothing and accessories were the most purchased products either in-store or online, with 62% saying that they have purchased these items in the preceding 12 months. The people in APAC region were incredibly attentive to their health as it reveals a larger percentage of purchases in medicinal and vitamin-based products than other areas, reaching 32%. Regions situated in the western part of the globe purchased more pet goods, particularly in the US where roughly 26% reported doing so. The LATAM area had the highest rate of people who purchase home appliances, accounting for 28%.
• Consumers’ online activities in the past 12 months: Traditional brick-and-mortar retail is making way for e-commerce as customers increasingly opt to purchase items online. Based on our survey result, 59% of respondents worldwide ordered something online and had it delivered by courier or postman. The pre-owned market was also seeing a surge, with 26% stating that they had purchased a previously used item in the last 12 months.
• Preferred types of promotions: In the competitive atmosphere of e-commerce, organizations must devise creative methods, particularly in terms of promotions. Our survey revealed that 49% of participants found percentage-off discounts to be the most appealing form of promotion. BOGO offers were favored by customers in MENA and North America, with 34% and 42% of them picking this option, respectively. On the other hand, 40% of Pacific Asians and 38% of Europeans were more inclined towards off discounts.
• Most important factors while shopping online: Consumers across the world ranked price as the most important factor for online purchasing, with 58% stating so. Low costs and free shipping placed second at 57%, demonstrating how pertinent this element was to customers. In the Asia Pacific and Latin America regions, however, consumer considerations surrounding these two criteria differed from those elsewhere, with delivery costs seeming to be a much greater concern.
• Most preferred payment options for online purchases: 27 percent of the population selected credit card, making it the most preferred form of payment worldwide. However, certain discrepancies between payment methods were discovered between different regions. For instance, the most preferred option among Europeans was PayPal (31%), while cash on delivery was the most popular in the Pacific Asian region (28%).
• Most favored e-commerce platform: Amazon was the most favorable online marketplace for 40% of survey respondents worldwide, especially in Europe, North America and MENA region. Latin Americans had a preference for Mercado Libre at 46%, whereas Shopee was the choice of 39% of Pacific Asians.
The findings of this survey contribute to a deeper comprehension of customer attitudes about online buying, with implications seen throughout the world. E-commerce is still expanding quickly across all industries, it’s crucial for businesses to seize these opportunities in order to promote innovation, sustainability, and long-term growth.
TGM Research (TGM) is a technology-driven market research company that specializes in global online data collection and innovative survey technology. TGM provides agile insights for better decisions, using the most comprehensive Res-Tech spearheading the use of digital for better market research. TGM is a remote-first company with a team of 50+ members, having a presence on five continents.
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