Shoppers in the US now make over half of their purchases online. And although clothes and tech are the most commonly bought items, over a third of Gen Yers (37%) say they would like to buy everything over the internet.
And why wouldn’t they? Buying online is convenient and cheap. And thanks to a decrease in brand loyalty and increasing expectations, direct-to-consumer brands are reaping the rewards with their superior service and speedy shipping. These companies are disrupting across the board, from sofas and sunglasses, to medicine and fragrance. Even in the car industry, where the dealership model is long-established, companies like Tesla are going DTC.
While the sectors they’re disrupting might be different, they all have similar mission statements. They focus on selling one thing (and selling it well), develop close relationships with customers, and aim to make shopping fun, fast and easy.
In Canvas8’s August 2016 Sector Snapshot of Shopping, we explore why people want to buy direct, explain the appeal of wishlists, discover how shopping can express patriotism, and look at how retailers are using behavioural science to increase spending.
Shop Direct: As more people opt to shop online, they’re fuelling the growth of direct-to-consumer brands. Can major corporations take on upstart companies to meet people’s on-demand needs?
Wishful Thinking: Online baskets and wishlists have evolved into channels through which to curate an imagined future. How are social networks and e-tailers converting these browsers into buyers?
Patriotic Purchasing: While the world is increasingly globalised, buying local still matters to many people, with home-grown products often associated with safety, transparency and support for their country.
Queue Concerns: Three in four people dislike waiting in line, and a long queue could lead a shopper to abandon their purchase. A new wave of apps are now helping to outsource waiting for customers.