Amazon’s popularity as a go-to destination for holiday shopping in the U.S. will continue for the second straight year, according to a survey.
CNBC’s All-America Economic Survey showed that 76% of respondents will complete all or most of their holiday purchases by using the e-commerce site. Almost half of them believe that online retail is the best way to cross out all their shopping lists.
The survey’s results only reflected the dominance of Amazon in the e-commerce industry. Despite the presence of other online retailers, the company’s status as a perennial favorite speaks more about its brand, according to Micah Roberts, a partner at research firm Public Opinion Strategies.
For this reason, companies should step up their strategies in luring customers to jump ship. A lending platform like Vyze, for instance, provides your customers with more options on how to pay for their transactions. On the other hand, free shipping serves as a major preference among shoppers. A customer may still decide against buying it without this, even if you sell low-priced products.
Amazon may be the dominant force in online retail during the 2017 holidays, but other large companies such as Walmart have started to keep up. GBH research estimated that Amazon’s market share between Black Friday and Cyber Monday comprises as much as 50%.
Walmart’s share only comprises 10% of the market, but that already represented a significant increase from just 5% in 2016. While the company decided to include online channels to its marketing strategy, it remains focused on its physical stores. Waltermart wants to increase foot traffic at its stores by offering lower-priced items, which shoppers may notice are cheaper than listed prices on its website or even Amazon.
Online shopping will likely continue to grow in the future, as Americans consider it to be more convenient. Even if outperforming Amazon seems impossible, your business should still adopt e-commerce strategies to remain relevant.