New research has revealed that the majority of Kiwi shoppers believe retailers need to invest in new technology to keep up with evolving consumer demand.
According to Klarna’s report “Shopping pulse: New Zealand”, four out of 10 New Zealand shoppers expect to do the majority of their shopping online by 2023.
Klarna’s research includes insights based on the findings of a recent survey of 1,085 New Zealand shoppers and an internationally comparative survey of over 11,740 respondents in the US, UK, Australia, Germany, Austria, the Netherlands, Belgium, France, Sweden, Norway and Finland.
It also found that more New Zealand shoppers believe they will be shopping online in the future to a good extent more so than those in Austria (39 percent), Finland (36 percent), France (35 percent), and Norway (30 percent).
Katrina Ang, Klarna Director of Marketing ANZ says New Zealanders shopping habits have changed since the pandemic resulting in more demand for purchasing options “at our fingertips” and greater expectations when it comes to online customer experience.
“I’m looking forward to seeing how retailers in the year ahead adapt to the ever-evolving online customer and the innovative new tech that will emerge from this.”
Most respondents wanted frictionless payments (41 percent), personalised product recommendations (33 percent) and a seamless omnichannel experience (33 percent).
Entertainment was found to be the only product category in New Zealand shopped more often online than in physical stores while clothing and shoes, groceries, home and garden and pharmaceutical products are bought in physical stores more than other product categories.
The report also found that mobile shopping is on the rise and social media and online live shopping events have driven discovery and more informed purchasing decisions. Almost three in ten New Zealand shoppers have purchased a product after seeing it on social media.
Shoppers are also looking for innovative online shopping experiences. While only 18 percent have participated in a livestream shopping event, 21 percent have heard about it.
Smarter payment options are also on the wish list and although 75 percent of New Zealand shoppers have a preference for physical/plastic cards there is a growing interest towards virtual cards.