Customer Trust Hinges On Fast, Efficient Supply Chain
A 5 percent increase in customer retention can improve a company’s profitability by 75 percent, according to Bain and Co. Yet many retailers continue to focus more on acquisition and conversion than retention. Narvar conducted a study of more than 1,000 U.S. adults who have shopped online in the past year to analyze how they feel when engaging with brands in the new moment of truth – the critical time between purchase and fulfillment – and what their experience means for retailers. The results clearly indicate that on-time delivery and easy returns are key to influencing repeat purchases and warrant retailers’ close attention.
Consumers will spend over $4 trillion in online retail by 2020, up from $1.5 trillion in 2015, according to eMarketer. Retailers have an opportunity to capture their share of this massive market if they evolve in time – and in line – with consumers’ changing online shopping behaviors. Shoppers are increasingly frustrated by or anxious about online purchases, expressing concerns about damaged packages, on-time delivery, returns and more after they click buy. Almost half of shoppers (49 percent) worry their package will be damaged while in transit, and 42 percent of shoppers don’t trust the package will arrive on time.
A retailer’s ability to make the post-purchase experience seamless can be the difference between one-time transactions and repeat purchasing from a loyal customer.
Read the whitepaper? Interested in retail logistics? You should join us at Home Delivery World 2017 in Atlanta this March 14 – 15. Come meet Narvar, 75+ other solution providers, and 1000+ experts in the field. Book your free visitor ticket now >>