Verto Analytics recently presented their first webinar of the year, “2018 State of Cross-Device Digital Shopping”, which highlighted key findings from our latest report, The E-Commerce Ecosystem: The State of Cross-Device Digital Shopping. As the e-commerce industry continues to grow, brands and advertisers must learn how consumers behave during their online journey in order to learn where and when to target customers. In this post, we share two key consumer behavioral insights from the webinar. Interested in the others? Listen to the webinar on demand.
Demographic Analysis of Online Shoppers
Who shops online? Breaking down which demographic spends the longest time online shopping is an essential behavioral statistic for retailers and advertisers interested in targeting a particular segment. Most notably, Millennials aren’t sold on online shopping. According to Verto Analytics data (December 2017), less than a quarter (24%) of Millennials (ages 18-34) can be classified as heavy shoppers, ie., the top twentieth percentile of online shoppers based on time spent shopping online, despite the fact that they comprise 30% of the total online shopping population. The heavy shopper category (the top 20% of all shoppers, based on the amount of time spent shopping online) is dominated by members of Generation X (ages 35-54) and Boomers (ages 55-74), who comprise 75% of all heavy shoppers. Generation X shows an especially strong tendency towards online shopping; they comprise 34% of the total online shopping population, but 39% of all heavy shoppers.
How Long Do Different Groups Spend Shopping?
The more time that consumers spend shopping, the longer advertisers and brands can tempt shoppers into buying their products. There is a small difference in time spent shopping between genders, with women spending an average of 3.2 minutes in a shopping device sessions and men an average of three minutes in shopping device sessions. Yet, key behavioral trends emerge when analyzing time spent per age segment: Millennials spend just 2.6 minutes per shopping app session, while Boomers spend 4.3 minutes, and consumers over the age of 75 spend 4.9 minutes per shopping session. Surprisingly, Boomers and over 75 spend almost double the time online shopping in comparison to Millennials. Millennials may just be more efficient at finding the products they seek, or perhaps in comparison to Boomers and consumers over 75, they have a smaller disposable income to spend on online shopping.
Online shopping is now a near-ubiquitous activity: 96% of the adult online population in the U.S. visited an online retailer at least once during December 2017. As the e-commerce sector continues to grow, it is crucial that brands, retailers, and advertisers leverage key consumer behavioral insights to target specific consumer segments on the right device, channel, and day part. Interested in learning about the online Super Shopper? check out our latest report The E-Commerce Ecosystem: The State of Cross-Device Digital Shopping, or listen to the webinar on demand here.