inRiver Report
The exponential growth in online shopping has spurred a wave of sector innovation. However, while there is an exciting retail opportunity, consumers are feeling overwhelmed by the plethora of online shopping options – from diverse channels, to varying product information and ways to pay. Specifically, with the introduction of new channel features, such as Instagram’s latest in-app shopping option, buyers can be inundated with special sales offers.
The competitive nature of the e-commerce sector means brands and retailers must find a way to drive customer preference and loyalty. Managing customer expectations is critical and can be achieved by providing comprehensive, reliable and visually pleasing product information across all e-commerce channels.
Nonetheless, it remains a challenge for retailers to cost effectively manage customer product expectations – online shopping has also driven a rise in product returns. This suggests there is a consumer disconnect – a gap between their product expectations and the reality of the product - often caused by misleading or incomplete product information or specifications. This has a substantial impact on retailers’ revenues. Dutch consumers are the frontrunners when it come to returns – 9% of all purchases are being returned, more than in any other European country.
Discover how to better manage customer expectations, minimise returns and increase revenue for your e-commerce business in 2019.
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