87% Of Consumers Click On Amazon For Online Purchases

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Fifty per cent of respondents reported an increase in online purchases compared to in-store, with Amazon being their first stop.

Feedvisor, the “AI-first” optimisation and intelligence platform for brands and retailers on Amazon, Walmart, and e-marketplaces, released the findings of its 2022 Amazon Consumer Behavior Report. Based on a survey of over 2,000 consumers, the report explores the changing behaviours and trends shaping ecommerce.

The survey revealed how consumers use Amazon to shop for products and services and what influences their spending habits during uncertain, challenging times.

“One of the leading forces influencing consumer behaviour today is the current economic climate,” said Dani Nadel, President and COO of Feedvisor. “Surging energy prices, elevated food costs, and continuing supply constraints remain top concerns facing consumers, creating a tension between a desire to purchase what they want and a need to compromise due to budgetary pressures,” said Nadel. “Brands and retailers increasingly need to adapt to earn their business, especially as consumers are more willing to trade down and try new brands in exchange for increased value.”

Some key findings from Feedvisor’s 2022 Amazon Consumer Behavior Report are below:

Consumers shop more frequently despite inflation and other economic pressures, but price and budget realities influence their decisions.

• Nearly 50 per cent of respondents reported an increase in online purchases compared to in-store, with Amazon being their first stop.
• One of the report’s most compelling findings is that inflation largely influences purchasing motivation, with 54 per cent of shoppers stating this is a key factor in their decisions. Consumers are also making decisions based on where the deals and discounts are (45 per cent) and their budget constraints (33 per cent).

In choosing products today, consumer focus is on price and value rather than familiarity with the brand.

• The survey reveals that 66 per cent of consumers remain open to purchasing private labels vs brand names, with about half of them saying it depends on the product.

• • Most consumers are more likely to purchase Amazon private labels (76 per cent), possibly because of Amazon’s attention to quality for their label products. Hence, they match that of the brand name products they are mimicking.

Advancements in technology are enhancing the retail experience and being leveraged to facilitate the buyer journey.

• One-third of survey respondents reported using the new technology enhancements, including augmented reality, flexible payment options and purchasing within games. At the same time, an additional 1/3 of consumers anticipate using them in the future.
• Voice search is also picking up as the survey indicates that 44 per cent of shoppers say they use voice assistants to make a purchase.

Consumers expect to be able to shop at the moment, with 52 per cent of consumers have made a purchase from social media in the past six months.

• Influencers are now an integral part of brand strategies; For example, 37 per cent of consumers have purchased after seeing Amazon influencers talk about or recommend them.

Memberships and subscriptions are on the rise, with Amazon Prime memberships at an all-time high, up 20 per cent since 2019, yet most consumers have more than one membership besides Prime as they seek to exploit greater deals and discounts.

Consumers want to click instead of think, making advertising, especially on Amazon, a key driver of engagement and sales:

• Sponsored ads are still a key driver for product sales, as 38 per cent of consumers find them helpful, up 7 per cent yearly.
• Seventy per cent of shoppers said they purchased the first product listed on the Amazon search results page.
• Amazon continues to be the first place consumers look for product information, with 75 per cent of consumers saying they check prices and product reviews on Amazon before making a purchase.

Additionally, as summer is nearing the transition to fall, holiday shopping is already underway.

• As many as 15 per cent of consumers used Prime Day to kick off their gift purchases, while almost half of consumers are planning on beginning in October and November.