One in three online consumers is willing to bear green costs

Electronic commerce in Spain is at a time of great growth and consolidation. Therefore, the company Flash Sales Veepee and the IESE Business School have joined forces to analyze the sector and anticipate the next trends with the publication of the I Veepee-IESE Study on the future of ecommerce in Spain. The highlight of the report is that, although sustainability is a growing concern, Only 36% of online buyers in Spain are willing to pay green costs and never more than 30% of the increase.

The study shows that one in four digital consumers in Spain already buys once a week and 40% do so at least once a month. This growth and consolidation of e-commerce in Spain has been driven, in part, by the pandemic, since six out of ten online consumers confirm that they have increased their purchases in the last year.

The I Veepee-IESE Study on the future of ecommerce in Spain also analyzes the most useful ecommerce trends for Spanish online consumers. The ranking is led by the purchase in multi-brand platforms, flexible deliveries and simplified payments. Fourth, there is a agile online shopping experience that ensures the protection of your data, while the fifth trend revolves around the sustainability, with reluctance to pay the extra costs that may arise. The report also shows that the media and social networks have a strong impact according to the user’s profile when buying online.

Marketplaces, online shopping streamlines

79% of online consumers in Spain value multi-brand ecommerce over other alternatives, such as specific online stores or physical channels. The greater variety of products (58%) and the most competitive prices (51%) are the main reasons. They also consider it important to be able to buy products from different categories at the same time (49%), as well as the ease of comparison (48%).

The price and flexibility of delivery, conditions of the purchase

The delivery conditions and the information available about it before formalizing the purchase can be a strong determining factor. Half of online shoppers do not purchase a product if it has shipping costs and 40% Abandon the purchase before payment if the delivery time is not specified. In this sense, 1 in 5 online consumers considers it a priority to be able to choose the delivery date and time slot, while 1 in 4 prefers to travel to a physical point to save costs, ensure the delivery of the order and be more sustainable.

Quick and convenient payments

The payment method most used by digital consumers in Spain is credit or debit card (83%), followed by digital wallets (39%) like Google Pay, Apple Pay, Bizum or PayPal. This second option is used especially by those under 34 years of age and by buyers who purchase products and services online weekly. Both payment systems are chosen for the convenience and speed they offer. In fact, count on simplified payments is the third most useful trend, for 71% of Spanish online shoppers.

Agile and secure online shopping experience

Online consumers in Spain use several devices for their purchases with mobile (75%) as their preferred channel, followed by computer (40%). Thus, 65% prefer to buy through apps instead of websites and 7 out of 10 value being able to resume incomplete purchases at different times and / or devices.

The security and protection of personal data is one of the most important aspects of the online shopping experience. Up to 62% say they would like to have more tools to control their personal information. Something that they value more than other more disruptive technologies such as virtual reality stores (29%), delivery with drones (23%) or personal assistants with Artificial Intelligence (21%).

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Other tools to improve the digital shopping experience are the product display through video in addition to photos (70%), the use of augmented reality to test products (48%), chatbots (42%) or personalized ads based on previous purchases (37%).

Sustainability, but at no extra cost

The consumers increasingly value being able to make sustainable purchases having ethical, social and environmental information on production and purchase options that enhance circularity such as second hand, renting or the packaging sustainable. Without

embargo, only 36% are willing to pay the green costs that are generated and never more than a 30% increase. In fact, of these, two out of three would not pay more than 10% of the original value.

The influence of the media and social networks

8 out of 10 online consumers are influenced by the media in their purchase decision making, with social networks being the channel with the greatest impact for half of the population (50%), especially women and those under 34 years of age, followed by television (32%) and the online press (17%). This influence is related to the consumer profile since the most frequent online shoppers are the most influenced by online channels (social networks, online press and podcasts).

Instagram is the social network with the highest impact (37%), well above Facebook (22%) WhatsApp (13%) and YouTube (11%). By sex and age, while Instagram has a greater impact on women and young people, Facebook has more influence on men and consumers of older ages.

Regarding the recommendations, 73% of online consumers look at the opinions of other users before buying, while only 10% trust the opinions of influencers more than your environment. Only in the case of young people does it slightly increase the reliability they give to influencers who recommend products to them.

What else will they buy from now on

The distribution of best-selling online products is returning to pre-pandemic levels. After a few months in which the consumption of textiles, home, sportswear and computers increased a lot, clothing and accessories (36%), travel (35%) and technology will be best selling items. Women plan to buy fashion and cosmetics and men buy technology, appliances, video games and movies. The oldest expect to increase purchases of travel, technology, appliances and food, and the young more fashion or food orders at home.

The first major ecommerce study in Spain

The I Veepee-IESE Study on the future of ecommerce in Spain is a initiative powered by Veepee which, as the leader in flash sales in Spain, seeks to know first-hand the needs of the online consumer and identify future trends to develop together with its more than 7,000 collaborating brands.

The preparation of the study, which has had the collaboration of the IESE business school, consisted of the analysis of more than 130 articles, studies and conversations on social networks to detect which issues are a priority for the online consumer and, from there, launch a I study more than 1,600 online shoppers in Spain between the ages of 16 and 65. All this has allowed us to know the current profile of the online consumer, the most useful ecommerce trends and their growth potential.

Download the study here

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