Half of consumers in Australia trust a brand’s website (50%) or marketplaces (44%) for product research, compared to just 6% who trust social media, according to a recent survey by leading provider of cloud-based e-commerce solutions, ChannelAdvisor.
Despite the lack of trust in social media, the 2022 E-Commerce Consumer Survey found that almost one-third of respondents (29%) said they discover products through platforms such as Instagram and TikTok.
“To stay competitive and agile in this changing environment, brands and retailers must first understand how, where and why consumers are shopping,” ChannelAdvisor chief marketing officer, Mike Shapaker said.
“The survey results provide valuable insights that will help empower sellers to gain strategies to help capture consumer attention as the festive season approaches.”
Most Australian consumers are shopping on more than one marketplace, with 75% using multiple marketplaces and 20% using three marketplaces on a regular basis, according to the survey findings.
Further, half of consumers have purchased an item from a foreign retail site or marketplace in the past 12 months, which is more common among younger consumers (63% of those aged 18 to 25) compared to older consumers (32% of those aged 65 and over).
Pricing is a major factor for consumers with 86% comparing prices before making a purchase, 98% consider price ‘somewhat’ or ‘very’ important and 65% indicate their reason for research online before or during shopping in-store ‘often’ involves checking prices.
Retail media advertising is becoming essential to increase product awareness with close to four in 10 consumers (39%) clicking on a sponsored or promoted ad on a marketplace or retail site in the past 12 months, again more prevalent among younger shoppers (55% of those aged 18 to 25 versus 48% of those aged 26 to 35).
The survey also confirmed that Google remained the top channel for product research in the past 12 months, ahead of eBay (71%), Amazon (56%), Facebook (41%) and Instagram (28%).