Product discovery platform Syte releases new report on Consumer Behavior Trends
Syte, the leading Product Discovery Platform for retail, recently released Forecasting the Future of Product Discovery: The Trends Impacting Online Buying Behaviors in 2022 & Beyond, a report featuring data based on the analysis of more than 2.16 billion eCommerce sessions in the fashion, jewelry, and home decor verticals.
The rapid spread of Omicron shuttered stores and events around the world at the beginning of this year, but the retail industry is much more prepared heading into March 2022 than it was in March 2020 — from the acceleration of eCommerce adoption to heightened retail tech spending, and even new approaches to supply chain management.
This report digs into everything from how device usage impacts spending habits to the on-site technologies that drive up customer lifetime value to the style trends shoppers are searching for in 2022.
At a glance, some key findings from the report include:
- Jewelry shoppers are historically more conservative when it comes to buying on mobile, but two-thirds (66.3%) of online jewelry transactions in H2 2021 were made on mobile phones.
- The percentage of fashion shoppers completing transactions on mobile has grown considerably, topping 81.7% of all apparel purchases in H2 2021, compared to just 60.2% at the end of 2020. Jewelry brands would be wise to focus on improving their mobile shopping experiences in early 2022 to win over Mother’s Day shoppers.
- Just over a third (35.1%) of home decor shoppers browse via desktop and more than half (53.6%) transact on desktop. Home decor remains the only vertical where shoppers still prefer to purchase on desktop, aligning with the fact that furniture tends to be a high-ticket, high-consideration purchase for most shoppers.
Syte is the world’s first Product Discovery Platform for retail. It uses visual AI to create intuitive search and discovery experiences for all types of shoppers.
Syte’s solutions include visual and text search, automated product tagging, personalized recommendation carousels, and more. They leverage unique data generated by visual AI to help shoppers find the most relevant products, driving conversion and loyalty.
Brands and retailers like Farfetch, PrettyLittleThing, Coleman Furniture, SHEIN, and Baycrew’s, partner with Syte to drive eCommerce revenue and build long-term customer loyalty.
To learn more about Syte’s solutions, products, technology, patents, and trademarks, visit www.syte.ai.
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