Global Business News

Consumer Behaviour Changes Induced by the Pandemic

2 min read

Shopping online gives buyers more variety, because they can effectively shop from any store in the world that has an online presence and delivers to their location.

That can be a big deal in the luxury marketplace, which has been cast into the spotlight as the perfect case study with which to analyse the shift in consumer behaviour due to the fallout of the pandemic, over the very short period of 2020 to 2021.

Luxury retailers are always chasing consumers around the world and with more retailers from all over the world essentially having more time to shop the far-flung corners of the World Wide Web, they’re finding more customers. There are over 7 billion people in the world, and they aren’t all in the United States, or even Europe or Asia, so retailers find a way to sell to people in far-flung locales.

For example, a retailer in the high-end department store niche, the mobile phones and tablets, the cameras and the high-end watches are the latest hot items on its online marketplace.

The Internet has given brands new venues for sales and distribution. Online retailers no longer have to rely solely on the traditional department stores for sale of its products. Online sales give online buyers the variety they seek. Because online shoppers can shop from any store that has an online presence, they are able to get the variety they want.

Indeed, shoppers in the UK can even shop from places as far away as Australia.

It is no wonder then that online retailers can do very well in an intensely competitive marketplace, by creating localised strategies.

There are several things shoppers consider when you are shopping online, more so now than before, because they’ve had more time on their hands to seek out the best deals:

They are always on the lookout for bargains and opportunities to save money. Often, online retailers can offer price cuts or special promotions on select items. They also want their items to get to them fast. Nobody likes to wait two weeks before you finally receive your purchase. That’s why the courier industry has really focused on improving its services during the pandemic. Fast Courier Australia, for example, offers the chance to book the fastest courier possible so that customers receive their items in good time.

They always compare prices on all of their online stores, including the site of the store where they are ultimately making their purchase. This helps them find the best price in the event that they can’t find a lower price elsewhere.

Finally, they even more so want to have the option to return products at no cost to them, because they kind of feel like they’re confined to shopping online in any case and want to have protection should the goods received not quite live up to the expectations as showcased digitally.

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