Muscovites Shop Online More Than Ever
AI in online retail helps forecast demand, shape marketing strategies, and provide personalized recommendations to shoppers.
More than 8.7 million Muscovites shop online at least once a year, with half of them doing it regularly once a month or more. These conclusions come from a recent study titled „Trends in Online Retail in Moscow“ and focused on the impact of digital technologies on customer behavior and experience.
Nearly all age groups from 18 to 60 and above fall into the category of active internet shoppers. The authors of the study note that the growing omnipresence of digital technologies has given life to a new consumption concept — Any Time, Any Place, Any Device.
Survey participants noted that online stores save time (67% of respondents) and money (45%) while offering more products than brick-and-mortar stores (40%). Two percent of the respondents shop online because they cannot visit regular stores due to health problems or simply because they prefer to avoid crowds.
The majority of the surveyed online shoppers (51%) buy things at both Russian and international e-commerce outlets. 46 percent of them shop only at Russian online stores, while just three percent prefer only international stores, which are becoming increasingly more popular among Muscovites.
The study showed that in addition to traditionally popular product categories, such as consumer electronics and apparel, Moscow online shoppers have started buying more FMCG products, including food, beverage, and pet supplies. Previously, Muscovites purchased these products primarily in regular stores.
Digital technologies enable greater access to products and services, help improve customer relations. According to the study, 200 largest local internet stores name social media one of the main sales and customer engagement channels. 94% of Moscow's top online stores have social media accounts.
Cashless payments are on the rise: 85% of Moscow online stores accept banking cards, with customers increasingly preferring that payment option over cash.
The majority of the respondents (63%) reported that they haven't experienced any problems while shopping online. Shipping times and terms was cited as the main area that requires improvement.
The study also focuses on customer communications, payment and shipping options, service ecosystems, and the use of smart technologies in online retail (AI, big data, VR/AR, robots and drones, blockchain, 3D modeling and printing, IoT).
The use of AI in online retail helps forecast demand, shape marketing strategies, and provide personalized recommendations to shoppers. The use of blockchain technology allows online stores to create smart contracts with suppliers, thus helping to ensure the hight quality of products.
14 june 2019