This is more than twice the number of searches in search engines
44% of all product searches are predicted to start on marketplaces, according to Ecommerce News. Consumers seem to be less concerned about brand loyalty as marketplaces are 5 times more likely to be a starting point for product research compared to a brand’s website.
Marketplaces such as eBay and Amazon account for close to 44% of all searches. They take up the largest share of the searches. This is a significant difference compared to search engines which account for 19% of all product research.
The 9% of initial product searches that were carried out on brand’s websites was observed in consumers between the ages of 18-24. 52% rely on marketplaces for initial research while 18% rely on search engines. This is why retailers who are selling on marketplaces must ensure that their content is optimized.
14% would not switch to a competitor’s product if their initial choice was unavailable. 69% would not purchase products with poor descriptions while 83% relied on product information to make a purchase.
45% of shoppers are frustrated by poor product information while 82% will research product information before buying an item.
Brands cannot depend on the name only to make sales. Given the shift in brand loyalty and high competition, companies need to meet consumers’ expectations in the product and purchase journey.
We’ve reported that majority of B2B businesses in US opposed to accepting crypto payments.