Transformation of Search Summit - The Era of Ecommerce - October 2018
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New research from ClickZ and Catalyst has found that the ecommerce customer journey is nonlinear and nonexclusive. Consumers visit Amazon and Google in great quantities, but there are numerous other, important retailers that advertisers largely ignore. This presentation highlights the key findings from the new report, as discussed at the Transformation of Search Summit in New York.
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Transformation of Search Summit - The Era of Ecommerce - October 2018
- 1. The Era of Ecommerce
- 2. This Morning • The Era of Ecommerce Report • Key Findings • The Non-Exclusive Consumer • Advertisers Are Struggling to Keep Pace • How Brands Can Capitalize on the Opportunity 1
- 3. 2 About the Report • Sequel to 2017’s Age of Amazon report • Survey of over 1,000 consumers and 750 brand marketers • Interviews with senior leaders from Pinterest, LEGO, Kantar Consulting, and many others. The aim of this report is to analyze the full consumer journey, across retailers and search engines, from research to consideration to purchase. By doing so, we hope to provide brands with a clear understanding of their audience and the best ways to engage them through digital advertising.
- 5. 4 When a consumer knows what they are looking for: 50% of ecommerce journeys start with a retailer. 50% start with a search engine. When a consumer does not know what they are looking for: 62% of ecommerce journeys start with a search engine. 38% start with a retailer. But brands are not catering to the new customer journey. Just 28% of brands have a strategy for Amazon advertising. 25% of brands have a strategy for non-Amazon retailers. Advertisers are spending more on Google/Amazon. 63% of brands plan to increase Google Search spend. 26% will increase Amazon spend. More brands will decrease (18%) than increase (17%) spend with other retailers.
- 7. 6 50% Of consumers start with a search engine when they know what they want; 50% go to a retailer 62% Start with a search engine when they do not know what they want; 38% go to a retailer
- 8. 7 Of the 50% of consumers who start with a search engine, the vast majority go to Google. This gives Google a 46% share of the total. Amazon is the most popular retailer for initial research. However, there is also an important long tail of retailers who cater to different consumer demands.
- 9. 8 When consumers do not know what they want, they tend to visit a search engine. Again, Google dominates the search engine share of the total. Amazon is more dominant among retailers here, which gives it an 18% share of all consumer research visits.
- 10. Which Sites Do You Visit Regularly? 9 Across research, consideration, and purchase stages, Amazon is the most visited retailer or search engine. 96% of consumers go to Amazon.com on a regular basis. 78% go to Google; 78% go to Walmart.com.
- 11. For Which Purposes Do You Visit These Sites? 10 Consumers visit each website for research, consideration, and purchase. Google is the main starting point for research. Pinterest is very popular for product imagery. Amazon leads the way for purchases, followed by Walmart.
- 12. Consumer Electronics 11 PurchaseComparison Amazon is a consistent fixture across all product categories, but the competition is always changing.
- 14. Advertisers are Struggling to Keep Pace 13
- 15. 14
- 16. 15 70% of responding brands to this year’s survey have increased their ecommerce marketing budgets within the last 12 months, while just 5.5% have decreased spend. Ecommerce Budgets are Growing
- 17. 16 But the Investment is Not Spread Equally Google Paid Search and SEO are the areas brands are planning to invest in most. Beyond these channels, Amazon Advertising will see more investment but most are planning to spend the same as last year. Brands are least likely to increase investment in sponsored products with non-Amazon retailers.
- 18. 17 Brands Are Not Advertising Where Their Audience Shops As a result, there is a widening gap between advertisers and consumers on all retailers. Amazon is a slight exception to this, but even here brands are not aligned with consumer behaviors.
- 19. 18 Advertisers step up activity once a consumer shows clear purchase intent. This trend appears across all major retailers and search engines. For example, 34% of consumers compare products on Walmart; 7% of brands say they have optimized their product descriptions for this retailer.
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