Free Report | eCommerce Insights for Consumer Electronics Brands

Driven by constant innovation, Consumer Electronics is one of the most dynamic sectors in eCommerce. According to Statista, the global revenue generated in the Consumer Electronics market is projected to reach a staggering $1.046Tn in 2024, with online sales predicted to account for 33.5% of the total revenue. Today, online channels, especially social media, are major sources for product discovery and research.

Consumer Electronics e-Commerce is on the Rise in the US and Europe

Nearly five in ten U.S. consumers search for Consumer Electronics product information online before purchasing, more than any other product category. This trend is also evident among European consumers, where digital channels significantly influence offline purchases. Here are some other current tendencies driving growth:

• Consumers ages 25 to 34 years old are most likely to buy Consumer Electronic products.
• Consumer Electronics represents one of the largest opportunities for social commerce, a sector of commerce expected to reach $99 billion by 2025.
• According to Circana, 67% of UK consumers who purchased Consumer Electronics in the past 12 months say they are most likely to shop online for these products.
• In Germany, the eCommerce Consumer Electronics market share is currently at 37.9% and will increase by an average of 3.4% to reach 43.3% by 2028

Despite the positive eCommerce outlook for Consumer Electronics brands, competition is fierce. It is challenging to capture shoppers’ attention and ensure your brand’s products end up in their shopping carts. To sustain and grow market share, brands must make strategic advertising investments. This requires an understanding of the channels, campaigns, creative strategies, and audiences that actually convert.

Deep Dive into Consumer Electronics Shopping Trends

MikMak’s report: “eCommerce Benchmarks & Insights for Multichannel Consumer Electronics Brands” reveals the latest Consumer Electronics eCommerce and shopping trends in four major markets: the U.S., the U.K., France, and Germany. According to the MikMak Shopping Index:

• While the end of the year shows major online shopping peaks, February saw the most shopper traffic for brands at their retailers in the U.S.
• Amazon is the top checkout option for consumers in the US.S., while Currys leads in the UK.
• In Germany, Consumer Electronics shopper traffic doubled in the first quarter of 2024 compared to the same period in 2023.
• Friday is the most popular day in France for shopping for Consumer Electronics online.

With shifting omnichannel consumer shopping behavior, measuring performance based on first-party data is key to success in driving profitable growth. MikMak’s eCommerce enablement and analytics platform can help with this. Here’s also a short checklist to start optimizing your eCommerce marketing strategy:

Checklist to increase your marketing effectiveness

• Make your products discoverable: Is your Consumer Electronics brand utilizing its media and brand website effectively to drive and measure retailer sales? Using an advanced Where-to-Buy solution with multi-retailer checkout options allows you to increase your chances of conversion, and collect first-party data to identify your best-performing assets and channels.
•  Leverage real-time transactional insights from your marketing initiatives: How and where do your audiences convert? Identify which channels, campaigns, and retailers are part of your consumers’ shopping journey to place your media investments at the right time and in the right places. 
• Optimize your content and be agile with your data: Tailor your creative to be relevant to the specific audience segment targeted in your campaign. Understanding your audience’s needs and preferences will enable you to create content that resonates with them effectively. Keep your creative and marketing outreach focused on consumer behavior, and use insights to adjust your methods quickly to save time and money.
• Explore growth opportunities: Check your performance against category (and subcategory!) benchmarks to see how you stack up against the competition. A/B test new creative formats like shoppable QR codes and CTV  to see if purchase intent increases.

Download MikMak’s free access report to discover more insights about how consumers are shopping and what brands should prepare for the future, including best practices to help your brand win in the Consumer Electronics eCommerce space.