• by Laurie Sullivan , Staff Writer @lauriesullivan, May 10, 2023

Consumer data may be more difficult to come by as shoppers change their views on sharing personal data. About 48% of respondents to a recent survey said they have abandoned an online purchase when asked to create an account, and 32% said they check out as a guest to retain some type of anonymity.

Coveo’s third annual Ecommerce Relevance Report, released Wednesday, is based on a survey of 4,000 shoppers in the U.S. and U.K. It provides a snapshot of how the economy and affordability of products are changing consumer behavior. It also shows the current mindset around data privacy and shopper anonymity.

Research shows that customers are more likely to abandon a company’s website if it takes more than six seconds to load. But when the website respects the consumer’s time by improving the experience, many will make that purchase and remain loyal.

It’s not just about finding the items for sale. It's also about searching for information about the product, including owner manuals, return policies and opt-out policies.

When it comes to websites, 33% cite poor performance and 32% cite the inability to find information and products, while 27% cite missing product information, 26% cite disorganized navigation, 25% cite not being mobile friendly and 24% cite too many irrelevant recommendations.

The Gen Z generation views online offerings a bit more harshly, with 96% reporting they have encountered problems. They are 46% more likely to be frustrated by lack of product discovery, nearly 13% more likely to be upset that they can’t discover new products, and 11% more aggravated that the site doesn’t allow filtering.

Coveo also found that 57% of respondents are unaware of how much data they share when shopping online -- a percentage that spans across generations. Consumers seem less concerned when they get something in return. Some 52% said they are willing to share data when shopping online if it means they get better deals and offers.

Shoppers show a strong preference for researching products before purchasing, with 79% saying they conduct research online, including a brand’s website, and on social media. Some 37% research products online and purchasing in-store, but 22% of shoppers complain there’s no way to tell if stock is available at their local store.

As retailers attempt to satisfy consumers' online expectations, shoppers resoundingly say they often encounter problems in the digital world.

Most respondents (93%) expect their online shopping experience to be better than/equal to what they receive while in-store. Most (91%) said they encounter problems online, with nearly a third citing poor site performance (33%) and lack of discoverability (32%) as the top issues, followed by missing product information (27%), disorganized navigation (26%), not being mobile-friendly (25%), and too many irrelevant recommendations (24%).

Looking only at the digitally native Gen Z, 96% report they have encountered problems. They are 46% more likely to be frustrated by lack of product discovery, nearly 13% more likely to be upset that they can’t discover new products, and 11% more aggravated that the site doesn’t allow filtering.

Shopping habits have changed during the past 12 months. Some 60% participating in a survey said they are more likely to shop online at more affordable stores, while 39% said they are less brand loyal and tend to purchase private-label products, and 17% said they like the brands and stores they are accustomed to even if they cost more.