Satisfaction In The Age Of eCommerce
How Trust Helps Online Merchants Build Customer Loyalty
By PYMNTSMay 2022
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Inside this report
Ecommerce is a fiercely competitive industry, and delivering on an easy, convenient, and safe shopping experience is one of the most impactful actions merchants can take to retain customers. Yet, meeting ever-rising consumers’ expectations in the age of limitless options will determine a crucial factor: trust. Trust is what keeps a customer coming back. And if broken, it will send a once-loyal customer straight into the arms of a competitor. This provides data-driven insights into the complex relationship between customer experience, trust, and lifetime value.
Introduction
Part I: The link between customer satisfaction and customer value
Part II: Gaining customers’ trust and keeping it
Conclusion
Methodology
Meeting customers’ expectations to build trust
89.6% of grocery shoppers and 85.4% of retail shoppers who reported being satisfied with an online merchant expressed high levels of trust
Trust-based relationships are boosting CLV
40.1% of grocery shoppers and 40.5% of retail shoppers are very likely to leave for a competitor if they no longer trust a certain merchant
Investing in security and fraud prevention is key
Stolen data is the top issue for consumers and is likely to negatively impact their trust in a merchant, while money lost to fraud is the second
The results of a new, extensive survey by Riskified, the eCommerce enablement, and fraud-prevention solutions provider, show a dramatic difference between how retailers and consumers view the threat of fraud and who they say is to blame.
Riskified commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study to evaluate the return on investment (ROI) that enterprise digital merchants can realize with Riskified
Riskified’s guide on how retailers can future-proof against the holiday season’s downfalls and leverage this period as part of their full-year growth strategy.
