Grocery, Furnishings Continue to Drive eCommerce Growth
Online purchases of groceries and home furnishing have witnessed a drastic surge in the last couple of years. An there’s no sign of slowing down any time soon since they have continued to show the strongest eCommerce growth into this year.
The convenience of buying groceries and home furnishings online has caused many consumers to continue shopping online in those categories. Not to mention inflation has encouraged shoppers to look for price comparison online.
A recent research showed that rising prices are also making consumers to seek out cheaper goods online. Actually, this is among the main reasons behind grocery furnishings drive eCommerce growth. After all, it is indicative of a very price-sensitive and price-conscious consumer who is now shifting away from buying the higher ticket items, and more willing and opening to settling for lower-priced goods.
It doesn’t end at that considering cost pressure is also driving increased use of buy now, pay later (BNPL) options when it comes to grocery and home furnishings. In January and February of this year, the grocery share of BNPL orders was up by 40%. As for home furnishings, it went up 38% during the same period.
The continuous rise of buy-now-pay-later usage for groceries clearly showcases that consumers are more likely to make bigger purchases online to leverage special promotions and stock up on staples.
We can never conclude without mentioning the sheer fact that consumers are now dealing wit grocery orders that can easily reach the $200 and above range. That leaves them in a position where they are forced to stretch their budget and determine ways to finance their orders without the hassle.
It is also important to note that the rate of mobile purchases is expected to rise in the coming years. Actually, this makes it increasingly vital that retailers make mobile purchasing easy. The amount of money you invest in this will definitely guarantee gains. You will notice higher growth than retails that are not simply putting in as much effort there.
Having a clear idea of how grocery furnishings drive eCommerce growth will certainly help you as a retailer better prepare yourself for what lies ahead. The last thing you want to see is your retail shop falling down the pecking order merely because you decided to ignore a few things. Hopefully, the above guide can help ensure your decisions are well-informed.
