E-commerce CX — 2016 Insights
Ecommerce is being disrupted by tech from multiple sides. Brands now find themselves competing against businesses online that are eating up market share and fragmenting industries.
Like every other industry, Ecommerce is being disrupted by tech from multiple sides. Huge brands like Asos and Zappos now find themselves competing against thousands of smaller businesses online that are eating up market share and fragmenting industries.
With minimal effort, anyone can quickly setup an online shop and focus on a particular product or service. It’s this laser like focus that some organisations have that’s causing huge shifts in the ecommerce sector. This, and countless other examples are why the industry needs to start paying more attention to CX.
It’s not just about identifying new products to build or services to offer, it’s the most differentiating factor between competitors. It’s no easy task to get this right, there are very few examples of companies that do (Airbnb & Transferwise do a pretty good job). The most important thing is understanding what customers value and acting upon it. And as you’ll see in the data below, it’s not just about better prices despite the fact that customers have price comparison information at their fingertips.
Technology has made everything ‘On Demand’. Amazon Prime changed the game, no question about that, the underlying truth is that customers value better experiences. To uncover what those are, you need to start understand your customers because you can be pretty sure that’s exactly what your competition are doing too.
At Chattermill, we pulled in various insights from across the industry as well as our own to uncover the exact scale of change in the industry, as well as how customer behaviour is shifting and how brands can keep pace.