How brands can attract and retain customers with PriceSpider
With more consumers becoming comfortable with researching and purchasing electronics online, it’s crucial for brands to have visibility on the digital shelf to attract and retain customers. For instance, having access to price and availability data across ecommerce distributors and sellers through digital shelf analytics solutions can help brands react quickly to price changes and reduce delisting or loss of organic share of search as a result of online retailer stockouts.
In 2022, computer and consumer electronics accounted for over 21% of total US retail ecommerce sales, providing an opportunity for brands to attract both new online shoppers in this category and those interested in lifestyle consumer electronics.
According to a 2022 global Kantar shopper study, nearly half (48%) of global shoppers choose to buy consumer electronics online for replacements or upgrades rather than as a first-time purchase. However, there are notable differences across markets, with countries like the USA, Canada, UK, France, Korea, and Japan showing higher rates of around 60% or more, while the UAE, Saudi Arabia, and India have lower-than-average levels. Furthermore, and of importance for brands looking to build product and online channel loyalty, the study revealed that many consumer electronics shoppers tend to return to the brand or retail website from which they previously made a purchase.
One consumer electronics brand says its focus for the year ahead regarding its ecommerce channel and consumer experiences centers around “looking at four aspects: content, supply, search and then obviously sales revenue.” To make the most of the electronics ecommerce boom, brands should incorporate shoppability into their awareness, consideration, and loyalty campaigns. These campaigns should guide shoppers through the purchase funnel, directing them to online retailers or brand.com product detail pages for consideration and checkout.
Best Practices to Enhance Consumer Electronics Experiences Online
- Monitor stock availability across online vendors using Brand Monitor to avoid stockouts with distributor, vendor, or retailer partners.
- Maintain control over ecommerce product presentation, including images and discoverability in retailer search, to enhance shopping experiences.
- Create a hybrid online and in-store experience using “Where to Buy” functionality, ensuring a seamless customer journey with fewer clicks, connecting shoppers to retailers and products.
- Pay attention to details, ensuring that retailers accurately present your products to increase shopper awareness, education, and purchase confidence, thereby minimizing returns and negative reviews and ratings.
24.4% of total Amazon ecommerce sales came from computer and consumer electronics, making it the largest category in 2022.
17% of US and UK consumer electronics buyers prefer to buy directly from the brand’s website, while 22% opt for online retailers that offer multiple brands.
As shoppers continue to navigate macroeconomic factors like inflation and economic instability, brands can elevate their strategies by streamlining the path to purchase, optimizing ecommerce content, and improving online product visibility and discoverability in retailer search results, ultimately increasing sales and safeguarding against consumer trade down.
Get in touch with our experts to learn how PriceSpider can help your brand.