Now more than ever, our lives have become consistently hectic. Twenty-four hours never seem long enough to complete our daily tasks. So, it’s no surprise today’s consumer is attracted to the convenience of online shopping. Who can resist side-by-side price comparisons, peer-to-peer consumer reviews and having items delivered right to our door without ever getting dressed or leaving the house?
As the leader in market research, Nielsen knows the affinity for online shopping continues to grow. In fact, global consumers’ intentions to shop online have doubled in many categories in the past three years. E-commerce sales have increased by 20% to $1.5 trillion, according to Nielsen’s report titled E-Commerce: Evolution or Revolution in the Fast-Moving Consumer Goods World?
Findings from the report show that the largest adopters of online shopping are the millennial generation (ages 18 to 34). Forty% of older generations say they plan to make a purchase online compared to 53% of millennials. A large portion (53%) of millennials are multicultural – African American, Asian or Hispanic – and drive over half of online shopping behaviors.
Multicultural online shopping in various categories tends to outpace that of the general population. Seventy-seven% of Asian Americans have made an Internet purchase in the last year and are twice as likely to spend $2,500 or more per year on Internet shopping than the total U.S. market. Fifty-four% of African Americans who plan destination trips use online resources, and 31% of upscale Hispanics purchased clothing online in the last year.
Despite the rapid boom in online shopping, there are still plenty of categories where consumers feel more secure buying from a brick and mortar retail channel, especially higher priced items and food. Research for these products may be done online, but consumers prefer to visit actual stores to make their purchases.
The most successful marketers will commit to connecting with the younger, multicultural consumer, while ensuring all online shopping experiences are convenient, provide user-friendly websites and are cost-effective and safe. These factors will help your business thrive and remain competitive, keeping the e-commerce industry healthy. So cheers to online shopping. It’s clearly here to stay. Which is a good thing, since our time seemingly continues to disappear.
Learn more about Nielsen and visit www.nielsen.com/africanamericans.
Download the latest report on African-American consumers by Nielsen and ESSENCE: POWERFUL. GROWING. INFLUENTIAL. The African-American Consumer 2014 Report
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