AfterPay: Dutch Shoppers Say They Will Reduce Their Overall Purchases in July but Continue to Shift Purchases to Online Channels
AfterPay Insights’ end of June research now covering more than 7.600 interviews with Dutch online shoppers – indicates that Dutch consumers will reduce their overall purchases in July. At the same time, Dutch consumers say that they will continue to shift purchases to online channels in July.
This is a continuation of the trend that AfterPay Insights saw in June, when Dutch online purchases picked up to +40% by mid-June (compared to early March) after a period of stabilized and even decreased growth in May. Even though Dutch society has opened up, consumers’ return to brick-and-mortar stores is – so far – not happening very fast. Only 8% of Dutch consumers say they shopped more in physical stores in June, compared to 24% who say they shopped more online. So even though Dutch online shoppers say they will consume less overall, a larger share of their purchases will be made online in July, coming at the expense of sales in brick-and-mortar stores.
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Dutch consumers are less worried and have a positive outlook on their personal financial situation in July
Dutch online shoppers’ worries have decreased continuously since end of March. Worries about personal health have decreased the most, from 53% at the second half of March to 36% by the second half of June. In that same period, worries about the personal financial situation also decreased, from 36% to 30%.
However, AfterPay Insights’ research also shows that 16% of Dutch online shoppers say that their financial situation has become more stressed. This has led consumers to purchase less overall; AfterPay Insights’ survey responses indicate that the most important reason for fewer purchases is the need to save money, especially evident in the younger age groups. Secondary motivations are the intention to change lifestyle by reducing overall consumption, along with having general worries about the future. And third tier motivations include the risk of becoming unemployed, as well as wanting to pay off mortgages and loans.
But even though consumers’ overall financial situation has deteriorated since mid-March, 9% of Dutch consumers say that their financial situation is better in June, and 12% say they expect their financial situation to further improve in July. Dutch consumers are relatively optimistic about their short-term financial situation.
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Fashion leads Dutch e-commerce purchases in July
AfterPay Insights finds that Fashion stands out in The Netherlands, as it is the leading category in acquiring new consumers: in the second half of March, 18% of Dutch shoppers made at least one purchase in online Fashion, and this share has grown to 28% by the second half of June.
Price and convenience increase in importance for Dutch consumers
Finding cheaper prices online has become increasingly important for Dutch consumers over time, along with the fact that online shopping offers more convenience. It looks like the functional benefits of online shopping increase in impact. AfterPay Insights will monitor Dutch consumer behavior over the summer to discover a possible lasting effect.