Satisfaction In The Age Of eCommerce

How Trust Helps Online Merchants Build Customer Loyalty

By PYMNTS

May 2022

Inside this report

Ecommerce is a fiercely competitive industry, and delivering on an easy, convenient, and safe shopping experience is one of the most impactful actions merchants can take to retain customers. Yet, meeting ever-rising consumers’ expectations in the age of limitless options will determine a crucial factor: trust. Trust is what keeps a customer coming back. And if broken, it will send a once-loyal customer straight into the arms of a competitor. This provides data-driven insights into the complex relationship between customer experience, trust, and lifetime value.

Table of Contents

Introduction

Part I: The link between customer satisfaction and customer value

Part II: Gaining customers’ trust and keeping it

Conclusion

Methodology

Meeting customers’ expectations to build trust

Meeting customers’ expectations to build trust

89.6% of grocery shoppers and 85.4% of retail shoppers who reported being satisfied with an online merchant expressed high levels of trust

Trust-based relationships are boosting CLV

Trust-based relationships are boosting CLV

40.1% of grocery shoppers and 40.5% of retail shoppers are very likely to leave for a competitor if they no longer trust a certain merchant

Investing in security and fraud prevention is key

Investing in security and fraud prevention is key

Stolen data is the top issue for consumers and is likely to negatively impact their trust in a merchant, while money lost to fraud is the second