Ryder Releases E-commerce Study, Reveals Key Inflation-Fueled Factors Impacting Online Purchasing Decisions

Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, releases its ninth annual e-commerce consumer study – a steadfast benchmark of U.S. online shopping behaviors, preferences, and expectations. The 2023 study “Adapting to Inflation: Consumer Outlook on E-commerce,” which Ryder assumed after acquiring Dotcom Distribution, reveals key factors impacting purchasing decisions as consumers shop less amid inflation.

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“When this annual study was first initiated in 2015, the goal was to gather and monitor consumer insights surrounding the e-commerce experience and publish those findings to serve as an industry benchmark,” says Jeff Wolpov, senior vice president of e-commerce solutions for Ryder. “This year’s data shows consumers are more cost conscious, consistently prioritizing savings with free shipping, free returns, and comparison shopping. For savvy merchants, this presents an opportunity to provide customers with options to save in one area while creating opportunities to shift spending to another, such as increasing order value with free shipping thresholds or converting returns into new orders with smart returns management.”

The study of 1,077 U.S. online shoppers explores sentiment and behavior surrounding purchasing decisions, omnichannel fulfillment, packaging, shipping, returns, and sustainability, while also taking a deeper look at beauty and apparel shoppers. The 2023 findings identify patterns and trends that brands and retailers can address to shape the ideal customer experience as inflation persists.

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Non-essential online shopping is on a decline. Just more than half of the study participants (51%) reported making fewer purchases, and 49% reported doing more comparison shopping, specifically due to recent inflation.

Desire for faster shipping resumes. In early 2022, amid lingering supply chain disruptions, 64% of consumers had adapted to receiving shipments within three to four days, signifying greater tolerance for longer shipping times than in 2021 (50%) and 2020 (53%). However, 2023 data thus far shows the number of consumers expecting shipments to arrive in one to two days is steadily rising (+10% from 2021 to 2023).