Consistency, value, selection, quality and convenience: these are the attributes consumers value most when forming retail preferences, according to a new analysis from BrandSpark.
And whether shopping in the brick-and-mortar or digital channel, the formula never changes, the report notes, "though online the price competition can be even fiercer, and out-of-stock issues can be even more damaging." BrandSpark also found that consumer reviews influence 60% of shoppers.
"When real problems arise with products or the shopping experience, it is important that retail and other brands react transparently and quickly to take responsibility and address the issue," said Robert Levy, president and CEO of BrandSpark International "The best e-commerce retailers have greatly overcome the limitations of a lack of physical stores by providing no-hassle returns and other service.
"Amazon has created its own eco-system for shoppers, who can purchase electronics alongside household items or even food products, receive personalized recommendations backed up by extensive consumer reviews, and receive their products quickly with free shipping."
BrandSpark recently released its Canadian 2016 Most Trusted Awards, which were based on the annual BrandSpark Canadian Shopper Study. The firm explained, "The results were ranked based on the greatest volume of mentions, and if the difference between brands in online retail were not statistically significant, ties were declared."
Most Trusted Online Retailers
Beauty & Cosmetics
- Sephora
Health & Personal Care
- Amazon (tie)
- Well.ca (tie)
Top 3 Most Trusted Brands in Online Retail
Beauty & Cosmetics
- Sephora
- Amazon
- Well.ca
Health & Personal Care
- Amazon/Well.ca (tie)
3. Walmart (3)
"Amazon has created its own eco-system for shoppers, who can purchase electronics alongside household items or even food products, receive personalized recommendations backed up by extensive consumer reviews, and receive their products quickly with free shipping," said Levy. "They have set the tone for e-commerce retail, but major retailers like Walmart and Best Buy have also created sophisticated e-commerce platforms, and other online-only retailers like Well.ca are carving out their own spaces."
