Consumer Behaviour is Changing, How Are You Adapting Your Business?
The change in consumer behaviour today calls for Balikbayan Box companies to keep up with the times and implement new technologies in their businesses.
The rapid growth of technology in our everyday lives has changed the way we do things.
Buying groceries can now be done without having to set foot in a store, arrange a ride from point A to point B in a few taps, and by simply opening an app on your phone, you can access entertainment options with countless media to choose from.
So why have consumers embraced technology so widely?
The digital revolution was pioneered by household names like Amazon, Uber and Netflix who brought their businesses online, offered convenience and reaped the benefits of transforming the customer experience.
Convenience on the internet is basically defined as making things fast and simple for people who use it.
Here are some of the biggest trends in consumer behaviour:
- People spend more time online using smartphones and other mobile devices.
- Shoppers are making the shift from going in-store to online purchases.
- The preference to make digital payments and use of self-checkout.
- A lot of buyers BOPIS (buy online, pickup in-store), when they don’t opt for delivery.
- Personalized digital experience is highly expected by customers.
You might be wondering, what has this got to do with Balikbayan Boxes?
Adapting your business to meet your customer expectations is an important step to success.
Here are the lessons you should learn about:
1. MAKE YOUR SERVICE FAST AND SIMPLE
Consumers increasingly want things done quicker than before and they are much less willing to wait. Analysts call this the ‘Amazon-effect’.
The term comes from e-commerce company, Amazon, which has created an expectation among customers that they should be able to buy and arrange delivery of products in a few clicks from the comfort of their own home.
This change in expectations has filtered down to other industries outside of online retail. For example, many people now expect to be able to pre-order their coffee so they can pick it up on their way to work; get their car repaired overnight; and even get their shopping delivered within hours from placing the order.
As a Balikbayan Box forwarder, you need to step up and offer customers the same fast and simple experience they get from other industries.
2. INFORMATION SHOULD BE EASY-TO-ACCESS
The amount of content on the internet today is phenomenal, and accessing it has never been easier, thanks to the combination of smartphones and internet connection.
Looking back on Amazon, they succeeded in delivering a fast and simple service by providing all the relevant information consumers need to make a purchase decision like product details, shipping times and availability.
Customers sending Balikbayan Boxes have invested a sizable amount in the items they are sending to relatives in the Philippines.
It is only natural for them to want quick access to information like when a shipment departs, when it arrives in the Philippines and to know where the box is during the shipping process.
Providing easy access to the right information for your customers improves their experience and drives the decision to use your service over another business.
3. UPGRADE THE CUSTOMER EXPERIENCE
In the past, customers would make a purchase regardless of how the experience made them feel.
Most buying decisions were made out of a product fulfilling their needs and not the customer’s experiences with the business.
According to an on-demand customer experience solutions provider organization, RightNow, they reported 89% of consumers have stopped doing business with a company after experiencing poor customer service.
Customer experience can be improved using technology to ensure that any interaction with your business is fast, simple and convenient for customers.
It also means empowering customers to share their experience of using your service with a satisfaction rating. The experience of other consumers can also influence the decision on whether or not a customer will use your service to send a Balikbayan Box.
4. GO MOBILE
The Smartphone Revolution transformed consumers and businesses to look at convenience, efficiency, and simplicity as critical ingredients in purchasing decisions.
Smartphone usage first became popular for its messaging services, news, and email.
Now, mobile commerce is following suit.
Everyday purchase driven through smartphones resulted in one of the most prevalent shifts in consumption patterns in history — never before has a consumer been able to buy anything they want at any time in the tap of a button.
If your Balikbayan Box business doesn’t have this capability, you are missing out on potential customers and revenue.
5. ENABLE ONLINE PAYMENTS
The shift to online purchases could not be possible without secure and safe online payments.
The increased use of smartphones and growth in online transactions means online payment not only gained wide acceptance by consumers but also became their preference when making transactions.
Catering to consumer preferences allows your business to capture more customers in the market because of the added convenience it provides.
Adapting your business to suit changing consumer behaviours can seem daunting.
However, it’s actually easier than you might think, and doesn’t require a substantial investment from you.
Just remember these 5 things:
- Make Your Service Fast And Simple
- Information Should Be Easy-to-access
- Upgrade The Customer Experience
- Go Mobile
- Enable Online Payments
ReternX is a technology platform designed specifically to help businesses and customers in the Balikbayan Box industry. Our customer mobile application provides your customers with convenience to book, pay and track their Balikbayan Boxes right in the palm of their hands.
Contact us today to see how we can help you.