Less than half (40%) of digital users currently rate their online experience as high, according to new analysis of retail results from Voice of the Customer leaders Maru/edr.
According to Maru/edr’s analysis of over 1.2 million data points collected over the past twelve months for twenty-seven of the top retail sites, achieving success in online retail is about four key factors – ease, product, service and fulfilment. Retailers must deliver a positive experience across all four dimensions in order to succeed.
Those sites that do, achieve an overall satisfaction rate of 82%, more than double the Maru/edr average of just 40%.
But currently, just 17% of consumers currently rate retailers highly for all four factors and 37% believe that sites don’t offer a great experience for any of ease, product, service or fulfilment, leaving a huge opportunity for any brand to learn from this insight and improve their digital customer experience.
Experiences across all four factors must be positive if retailers are to succeed online – if just one of the four factors does not rate as excellent, even if the other factors are given the highest score, satisfaction falls away. Insight shows that if service is not rated high, satisfaction drops from 82% to 68%. In comparison, if ease is not rated five out of five, satisfaction lowers to just 55%.
The importance of all four factors signifies the need for retailers to be mindful when designing their digital experiences to focus clearly on all four factors in order to truly satisfy consumers.
Derek Eccleston, Chief Development Officer at Maru/edr and author of ‘How to Achieve Success in Online Retail’, explains, “Our extensive analysis across the online retail landscape clearly shows that there is no one silver bullet. Instead, there are four factors that are key to online retailers delivering positive customers experiences.
“This runs counter to some industry opinion around the strength of one factor or dimension over others but our data clearly shows that ease, service, product and fulfilment all have to be excellent for a positive customer experience.
Crispin Boon, Client Insight Director at Maru/edr, and co-author, summarises, “Implicit to the four factors is the notion of personalisation and inspiration. Both must flow across ease, product, service and fulfilment in order to deliver a truly exceptional online experience. The opportunity is out there to provide a leading online retail experience, especially given results show that few retailers are yet to deliver on all four factors. However, retailers need to remember that ownership of the online experience spreads further than the web team and can only truly succeed if all departments feed into the same overall goal”.
How to achieve success in online retail is the latest original research from Maru/edr. Access your copy and find out how the four factors effect online retail experiences by downloading Maru/edr’s full report at maruedr.com/online-retail-success.