E-commerce opens the era of Metaverse and cryptocurrency

Metaverse, cryptocurrencies, and NFTs are ready to revolutionize e-commerce. To illustrate the following future scenario,Global Consumer Report: Current and Future Shopping Trends » BigCommerce surveyed consumers in the US, UK, Australia, Italy and France.

Main data

More than half of consumers shop online at least once a week (55%), with the “fashion and apparel” category being the most purchased items. For purchase incentives, the preferred is mostly free shipping.

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Consumers who use the “Buy Now, Pay Later” (Bnpl) formula do so because it helps put purchases back into their budget.

Those who want personalized shopping and advertising experiences and are generally willing to share personal data such as email, name or gender with brands. However, in return, they ask for honesty as well as a guarantee of fair wages and benefits for employees who work on e-commerce platforms.

In Italy, 38% of respondents were willing to share their data depending on the information requested, while 29% said it depends on the brand and 23% are generally unwilling to do so.

Among those willing to share personal information in exchange for a personalized shopping experience, Italian and French consumers are the most likely. Conversely, shoppers in the US, UK and Australia are more careful about which brand they share information with.

Consumers rank honesty and transparency as the most important values, closely followed by fair pay and employee benefits. However, it is an interest that mainly includes American, British and Australian consumers and is quieter among French and Italian consumers.

Most consumers (84%) consider the sustainability of the brand to be important when making a purchasing decision.

broken in metaverse

The most surprising news is that nearly half (46%) of consumers want to shop in the metaverse, and of those 51% are interested in buying virtual and physical goods.

However, a small percentage (2%) have already made purchases in the Metaverse. Australian consumers (52%) are the most willing to shop on the Metaverse, while French consumers are the least willing (35%).

Regarding the payment methods used for online purchases, 5% of consumers said they use cryptocurrencies, mostly in the US and Italy. And while most people do not use cryptocurrency yet, 66% of those who use it prefer it as a payment method.

In contrast to the metaverse, most consumers say they don’t have a good understanding of NFTs, with 26% saying they don’t even know what they are. This number remains relatively constant in each country.

“These findings show that technological advances are reshaping the shopper’s journey and providing brands with new and better ways to attract their customers,” he explains. Lisa Egerton, Chief Marketing Officer, BigCommerce.

How often do you buy online and what

Consumers shop online at least once a week, fashion and clothing come first. The report revealed that many consumers shop online multiple times a week, with 55% of respondents saying they shop online at least once a week, if not more. Of course, this shouldn’t come as too surprising when you consider that people shop on Google over a billion times a day.

As for products that consumers buy online, the report showed that fashion and apparel are by far the most popular categories (80%), electronics a close second (56%) and entertainment a third (55%).

‘Buy now, pay later’ boom

BNPL (Buy Now, Pay Later) is increasingly used by consumers when it is available. When consumers were asked what payment methods they use to shop online, 16% said they use BNPL, with most of those using it in the US, UK and Australia. In Italy it is used by 5%.

The main reason for choosing BNPL is to help consumers get back to their budget. In fact, among those using Bnpl, 34% would be more likely to complete a purchase if Bnpl was an option, while 49% would find it more appropriate to complete a purchase if Bnpl was an option.

In detail, among those using Bnpl in Italy, 32% would be more likely to complete a purchase if Bnol was an option, while 41% would find it more appropriate to complete a purchase if Bnpl was an option.

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