Consumers are more demanding than ever when shopping online, especially when it comes to (the timely) delivery of their order.
According to the ‘Great Expectations: Shipping, CX & Gen Z’ report by Neopost Shipping, almost all of Gen Z Australians would abandon their shopping cart if the e-retailer was not able to provide suitable shipping options.
The report says that if retailers want to capitalise on Australia’s next generation of spenders, they need to provide shipping options that satisfy Gen Z shoppers or risk losing up to 65 per cent of online conversions as they will just go somewhere else.
“There a clear opportunity for businesses who are looking to capture the savvy Gen Z customer to meet these needs and ensure they aren’t missing out on a large chunk of their target market,” says Matthew Mullen, senior vice president Americas at Neopost Shipping.
“Only a fifth of e-commerce businesses currently offer alternative shipping options such as hyperlocal and same day delivery in a retail environment where Gen Z shoppers have a strong appetite for speedy deliveries.”
Sixty-two per cent of Australian Gen Z consumers are more willing to pay for same day or hyperlocal delivery compared to their peers in other markets.
“Instead of taking the burden of building everything from ground up, retailers can leverage existing supply chain solutions such as updating technology stack with a shipping software platform and trialing smart parcel lockers. Shipping is a key element of online shopping so retailers adept at working through its complexity will reap great returns.”
Aussie businesses have a clear opportunity to boost their customer experience by investing in shipping infrastructure and ensuring they don’t miss out on a large chunk of their target market―who have a current annual national spending power of $1 billion, and growing.
