Cyber Weekend is different now. In previous years, retailers could count on YoY increases in online conversions, queues around the block, countdowns to retail doors flying open and the rush to grab a bargain. But now? Consumer behaviour has shifted and retailers have pivoted. What did this mean for Cyber Weekend 2021?
According to The Guardian, around 85% of independent retailers planned on boycotting Black Friday in 2021, a trend that’s gaining traction every year. In a stand against consumerism, waste and impulse buying, the retailers planned to shut down their websites, donate profits to charity and plant trees.
Heavily discounting the limited stock retailers have managed to secure is illogical; with yet another year dominated by lockdowns, supply chain issues and stock shortages, retailers have felt the pinch. But it’s not all about the bottom line either. Consumers are demanding more social action from retailers and businesses; social corporate responsibility, sustainability, ethics and corporate activism.
Australia’s Green Friday movement is “a reactive movement flipping the narrative with a driving ethos of shopping with consideration and mindfulness. It’s the proverbial riot against the mass-waste aftermath of the Black Friday and Cyber Monday scramble, as many consumers purchase with impulse in lieu of thoughtfulness.”
Conscious Consumption and Dirty Deliveries – What Consumers Want
Which of the following environmentally sustainable or ethical practises do you value?
% of all UK consumers who have chosen brands that have environmentally sustainable or ethical practises/ values in last 12 months [ DELOITTE ]
Consumers expect more. 1 in 3 shoppers stopped purchasing certain brands or products due to ethical or sustainability related concerns, and nearly 60% of consumers say they are willing to change their shopping habits to reduce environmental impact.
Blending their home and work life, consumers have felt more connected to their local communities than ever. 62% of Australians try to support local businesses where they can, and 6 in 10 have tried new retailers in the past 12 months. Globally, over half of all consumers (53%) believe it is more important to shop with local businesses now than pre-pandemic, giving smaller retailers the massive opportunity to actively engage this growing customer base.
In the last 12 months, 39% of Brits reduced the amount of new products and goods purchased. The mentality of ‘buy well, buy once’ is fast gaining momentum as consumers globally are shocked at the fall out from fast fashion, cheap electronics and single use items. Quality over quantity is having it’s day. Consumers are making more informed purchase decisions; they’re researching more, jumping from channel to channel and navigating their way through a longer shopper journey.
With consumers driving change, retailers need to step up or be left behind. Successful retailers understand that they need to help consumers make better buying decisions, be transparent around CSR and offer consumers more environmentally-friendly options.
Invest in product content. Help consumers make an informed buying decision by enriching your product data with compelling and robust product descriptions, high quality imagery and videos, customer reviews and content, content, content. Include sustainability and ethical attributes; where was it manufactured, how was it farmed, how can it be recycled and more.