It is not just about obtaining the physical objective or completing the mission The reason that hedonic consumers love to shop is that they enjoy the shopping process. Hedonic motivation refers to purchasing a product for emotional, fun, and experiential benefits, such as dining for fun, enjoyment, entertainment, or novelty, or shopping for experiencing fun, amusement, fantasy, and sensory stimulation. Many recent research suggests that just the functional attributes no longer can exclusively drive online sales. Utilitarian features include the two main elements of Marketing P, i.e., Product and Pricing.Īs e-commerce buyers have become more mature and competition has increased, hedonic attributes play a key role in e-commerce sales. Utilitarian motivation refers to purchasing a product for functional and economic benefits.
What is the primary motivation for the customer to go for e-commerce?Īt a high level, customer motivation or perspective is categorized into utilitarian and hedonic.What are the key driving factors for e-commerce sales?.However, e-commerce sales started declining as retail started reopening or completely reopened.ĭon't you think we can maintain the sales growth if we can unwrap the key drivers of e-commerce sales? Even during the COVID times, sales were driven by utilitarian needs, as offline retail was completely shut down, and e-commerce was the only channel. When e-commerce started, it was meant to solve utilitarian needs, where customers were shown the products they needed, along with all the product details and payment methods. We need to understand the subtle aspects of customer behavior so that we can take the required actions on the e-commerce site and campaign management. How to maintain the e-commerce sales growth rate?
Undoubtedly, opportunities have increased, but at the same time, competition has also increased multifold. This is the case for the entire retail industry worldwide. retail sales, up from $601.65 billion, or about 11% of total retail sales in 2019. e-commerce sales are projected to hit $709.78 billion in 2020, accounting for about 14.5% of total U.S. Most, if not all, brick and mortar stores have taken their businesses online to survive the pandemic.
and Canadian orders as of April 21st, with an impressive 146% growth in all online retail orders. Traditional retail sales have declined, but e-commerce has seen a 129% year-over-year growth in U.S. The COVID pandemic has shifted e-commerce in 2020, maybe more than at any other time in history.
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