Report: Merchants Risk Losing 40% of Online Retail, Grocery Customers Over Trust
In just a few short years, online shopping has redefined commerce. Some lessons from the days of traditional brick-and-mortar retailing still resonate, however, and perhaps the most important ones concern customer satisfaction. Most consumers cite ease and convenience as having the most significant impact on their satisfaction with a given retailer. According to PYMNTS’ research, two-thirds of online retail shoppers and 57% of online grocery shoppers say shopping ease is important when picking a digital merchant.
Once merchants gain a customer, they still have to lock in loyalty by demonstrating the convenience of their shopping experiences. Trust plays a vital role in this process, and merchants must demonstrate their reliability in protecting customers’ personal and financial information. In fact, trust is a requirement for all online retailers and even online grocers, as 40% of consumers will switch merchants if they feel that a retailer is no longer trustworthy.
These are just a few of the findings outlined in Satisfaction In The Age Of eCommerce: How Trust Helps Online Merchants Build Customer Loyalty , a PYMNTS and Riskified collaboration. We surveyed 2,153 U.S. consumers from Jan. 28 to Feb. 8, 2022, about their online shopping experiences, frequency and the merchant features that make shopping a satisfactory experience for them.
Some additional key findings include:
• Fifty-six percent of online retail shoppers and 58% of online grocery shoppers increased the amount of digital shopping they did in the past 12 months . As customers increase online shopping, merchants’ ability to deliver a satisfying online shopping experience becomes more important. A customer’s satisfaction with their shopping experience is directly related to their trust in the merchant delivering the experience.
• Eighty-four percent of the consumers who highly trust their online merchants have been buying from them for more than a year . Trust in a […]
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