Retailers’ move to online brings many benefits, but it has completely changed how businesses go about winning customer trust. It can be difficult to assure customers of quality when they are unable to see or touch the product they are purchasing.
Online Trust Discrepancies
The rise of third-party online marketplaces such as Amazon, where multiple vendors’ products are listed in one place makes it even more difficult for businesses to gain consumer trust as it removes the direct link between the business and its customer.
Even if a customer purchases a retailer’s item through a marketplace, it doesn’t mean they will become a loyal customer or trust the business they are buying from, as they are focused on products and not sellers.
Amazon customer’s lack of trust has been highlighted recently via a Which? Investigation. The watchdog inquiry found that there were several false reviews on the site, some items were even accredited with the ‘Amazon’s Choice’ badge.
Yet no reviews nor badges have been taken down or monitored by Amazon.
For such an established brand to behave in this manner, the number of untrusting consumers builds, not only towards Amazon but other eCommerce traders that feature items from multiple vendors.
The importance of building trust for eCommerce retailers
A recent Salesforce study found that 95% of customers are more likely to be loyal to a company they trust, while 92% are more likely to purchase additional products and services from trusted businesses.
This highlights how important customer trust is to a business and the revenue that can be lost if they are unable to cultivate it.
Cases such as the recent Amazon scandal, truly reflects how businesses with their own eCommerce website are better placed for building consumer loyalty, due to having total control over the customer experience allowing for the growth of trust.
The growing trend of businesses going Direct-to-Consumer is a prime example of organisations realising the benefits of having their own eCommerce platforms where they are able to take full ownership of the relationship with customers.
An eCommerce website also allows businesses to collect customer data and build a more personalised experience. These personalised experiences are necessary to create both brand trust and brand loyalty, which are both increasingly important in today’s crowded market.
It is imperative for eCommerce retailers to obtain, build and retain consumers trust. This will enable them to acquire are loyal fanbase giving the brand a better chance for having a steady and strong future within the retail industry.