To get straight to the point: consumer confidence is low right now. That's hardly surprising, given recent developments in society. Prices are going through the roof due to inflation, there are shortages of raw materials and staff everywhere, and on top of all that, an energy crisis hangs over us like a threatening cloud. All these factors shape our buying behavior now and in the future. In collaboration with ShoppingTomorrow, part of Thuiswinkel.org, Gfk surveyed 1,000 Dutch consumers: how do they see buying behavior in 2027?
The internet plays a major role in the consumer buying experience. Most consumers still start their research in a search engine. For half of consumers, the product images Google shows are decisive when weighing up products. Product information and reviews on online stores are also important when researching a purchase. For a good online product experience, 59% of consumers consider an extensive description and product specifications the most important.
Online shopping remains as popular as ever because it gives consumers quick answers to product questions, with proactive communication about, for example, a delivery delay. Speed and clarity matter, but when it comes to online spending, a competitive price is by far the most valued. On average, consumers expect to keep making 41% of their purchases online in 2027. Mobile will increasingly lead the way: 53% of online shoppers expect to make the majority of their online purchases on their smartphone in 2027.
Voice assistants such as Google Assistant and Siri are used relatively more often for online purchases than last year. Voice shopping is also generally viewed more positively. However, the majority (69%) of Dutch consumers have never used a voice assistant while shopping. A quarter expect to do so (more often) once the technology works better. What does the future hold? There is speculation about the possibilities of the Metaverse, a kind of parallel digital universe where you can live as an avatar and pay with cryptocurrency. Only 15% of consumers expect to shop in the Metaverse in the future. So what do consumers see as a likely scenario for 2027? Sustainability as standard, the option to personalize products and services, and more cross-border spending.
Consumers see sustainability as standard, the option to personalize products and services, and more cross-border spending as a possible future scenario for 2027.
- ShoppingTomorrow research 2022
However, sustainability is a deciding factor for only 29% of consumers when buying a product. When buying a (sustainable) product, price is still the most important factor, followed by the energy label and the materials. About a third trust sustainability labels. Although most consumers recognize the importance of corporate responsibility, not everyone is willing to pay extra for it yet. 2 in 5 believe the cost of sustainable production should not fall on the consumer. The same number have no objection to it.
Although most consumers recognize the importance of corporate responsibility, not everyone is willing to pay extra for it yet.
- ShoppingTomorrow research 2022
Besides sustainability as standard, half of consumers think personalized promotions and recommendations will dominate online in 2027. A third don't see that as a positive development. Ads that match a previous search or purchase are, however, viewed more positively. But collecting or analyzing personal data and online behavior still rubs many consumers the wrong way. 3 in 5 think advertising based on personal data should be banned. Half of consumers would be willing to share their personal data, but only if they benefit from it themselves, for example through better service.
Personalization is taking center stage, but especially when it comes to payments, it can also feel βcreepyβ. Still, every consumer wants to be able to pay quickly and easily. That's why Buckaroo's smart checkout includes smart payment technology that puts the payer's preferred bank at the top for an iDEAL payment. Or that automatically fills in credit card details once they have been entered before in a Buckaroo checkout. You can also apply personalization to your company branding by making a payment request personal:
βDear Dirk Jansen, we have not yet received payment for product x. You can easily transfer amount x to us using the payment link below.β Instead of an anonymous email from your payment service provider or collection agency.
Want more tips to boost conversion with your payment strategy? Talk to our payment specialists and sign up for the newsletter, because you don't have to wait until 2027 to introduce payment innovations π
Read more about sending payment links in our blog post 'How do I send a payment link?β>
This blog is based on the research by Gfk in collaboration with ShoppingTomorrow.