The impact of COVID-19 on consumer habits is generating great trends that will mark Spanish ecommerce in the coming months. Some of them are typical of this new normal, such as the preparation of shops in the face of the demand that will occur on Black Friday and Christmas, or the greater offer of products adapted to the home. However, others constitute technologies or approaches that have emerged in recent years, but whose adoption is accelerated by the Pandemic. In this sense, Klarna, a global leader in payment and purchasing services, has identified in the e-commerce of our country five of these trends from own studies and analysis of consulting firms. These are:
- Preparation for the growing demand: Companies adapt their processes, last-mile logistics and customer service services to meet a demand that will be greater than in other years, although it will be conditioned by economic uncertainty. In this sense, the Klarna study ‘Shopping trends in the new normal’ indicates that half of the Spanish will stay at home this year and make our Black Friday purchases online. In addition, the figures with young people are even higher: 70% of generation Z will buy online.
- Greater range of products adapted to the home: Shops are modifying their product offer to adapt to changes in consumer habits: the Klarna study indicates that 30% of Spaniards have made more practical and comfortable clothes to be at home. Another category, such as beauty and personal care, has seen increases in skin care products and masks, to the detriment of, for example, perfumes and fragrances, according to the consulting firm Mckinsey.
- Turn towards sustainability: the current context has not diminished the inclination of consumers towards retail that cares about sustainability. In fact, according to the consulting firm Capgemini The opposite has happened: 67% say that they will be more aware of the scarcity of natural resources due to the Covid-19 crisis, and 65% say that they will have a greater awareness about the repercussions of their general consumption on the new normal. .
- More innovative user experiences: As a consequence of the high demand and greater competitiveness in the e-commerce sector, companies are implementing more quickly changes aimed at improving the user experience. That can range from a much more attractive product presentation (with examples such as augmented reality in mobile applications that already use companies like Ikea), to an improvement of the processes and purchase options so that they buy more easily.
- Flexible payment methods: The Klarna study also shows that 25% of those surveyed would spend between 50 and 100 euros more on their year-end purchases if they could choose a flexible payment alternative that allowed them to pay in installments and without interest, while almost 20 % would spend between 100 and 200 euros more if they had this payment option. Therefore, businesses are increasingly incorporating these solutions that offer more freedom for their customers to make purchases how and when it is most convenient for them.
About these trends, Daniel Espejo, Country Manager of Klarna in Spain, Explain: “Our studies show that Spanish consumers are going to use the online channel more than ever for Black Friday and this Christmas. If we add to this factor the growing competitiveness among retailers to attract customers, prevent them from abandoning their purchasing processes and retain them, it is logical that they are betting on new strategies and technologies that provide added value. This is the case of flexible payment methods such as’Pay in 3 installments” from Klarna, which increase the average value of orders by up to 55%. In a context with so much uncertainty, this freedom for consumers will be a differential advantage for those businesses that implement it”.
