What do fashion shoppers want? It’s a question that brands have been trying to solve for years. The tricky bit is that it’s always changing, and keeping one step ahead can be a time-consuming exercise for retailers in the fashion sector.
Virtual reality mirrors and wearable tech might be dominating the headlines in in-store retail, but if retailers really want to deliver what shoppers want, they need to get the online essentials right first. Here are the top 2 ways to meet shopper needs:
1. Understand how emotions lead to abandoned baskets
Research by Klarna in partnership with Reading University revealed that the online shopping journey is like a roller coaster. Purchasing items can cause shoppers to experience highs and lows of emotion, such as excitement, impulsiveness and anxiety. Brands who see this, and guide their customers through the journey with friction-free features, will see the results in their bottom line.
'Research by Klarna in partnership with Reading University revealed that the online shopping journey is like a roller coaster'
The research also revealed irritations for shoppers that cause them to drop out at the checkout:
- 52% of consumers prefer to buy without account registration
- 56% favour one-click purchasing
These issues can be fixed by eliminating unnecessary barriers on the path to purchase. Understanding the emotions behind shopper behaviour - in this case frustration - means that retailers can smooth out the ups and downs in the online experience.
2. Prioritise payments to improve the experience
Many fashion retailers have already adapted to changing behaviour by implementing customer-centric initiatives such as next day delivery, mobile-optimised websites and easy returns, but too often the checkout and payment processes remain frustrating; especially when targeting today’s impatient, time-poor customer.
After shoppers have decided on a product they want to buy, don’t make it difficult for them to complete a transaction. Be sure to reduce extra steps in the checkout flow and provide flexible payment options, such as Klarna’s Pay later - which allows shoppers to buy goods and pay for them up to 30 days later with no interest or fees.
'One in five [millennials] say they would be more likely to complete a purchase if they knew they could spread the cost over time'
20% of millennials say they’d feel less guilty if they were offered deferred payment options, and one in five say they would be more likely to complete a purchase if they knew they could spread the cost over time.
As part of Klarna’s partnership with the London College of Fashion, teams of masters students have been working with Klarna to identify some of the biggest issues in retail, and fashion retail specifically. Through that research, and Klarna’s own knowledge, it’s been shown that creating more flexible ways to pay is one of the key pillars in improving a shopper’s experience online, and should be a top priority for retailers. In fashion, allowing customers to try before they buy is the ultimate way to deliver exactly what shoppers want.