Leading concerns for global consumers while shopping online 2022

Inflation and supply chain disruptions were the main issues plaguing the online shopping experience of global consumers in 2022. More than half of consumers surveyed worldwide in June that year reported that rising prices for groceries was the issue having the greatest impact on them while shopping online. In addition, some 43 percent reported being unable to purchase a product due to it being out of stock.

E-commerce in times of stagflation

As the global economy still reeled from the macroeconomic shock of the COVID-19 pandemic, the Russia-Ukraine war dealt a further blow to worldwide trade. Along with record food inflation, an unprecedented wave of layoffs in tech companies brought the pandemic-induced e-commerce boom to a halt. While online retail sales growth reached a peak of 25.7 percent in 2020, this figure was forecast to slow to 12.7 percent in 2022.

Impact of inflation on consumer behavior

As of July 2022, the European Union was edging very close to a double-digit inflation rate and consumers have had to adjust their purchasing behavior accordingly. Discretionary sectors such as clothing and consumer electronics were the most affected, with almost 50 percent of global consumers reporting they have either stopped or reduced their purchases of clothing, shoes, and accessories in response to rising prices.