Insights and strategies for success Introduction Retail E-commerce sales are on the rise, far surpassing pre-pandemiclevels as consumers take advantage of the convenience of purchasingproducts and services on a retailer’s website or mobile app. In fact, theglobal E-commerce growth rate for 2024 is forecast at 9.4%, bringing However, increasing online transactions require robust digital support.At the same time, many E-commerce brands are emerging without abrick-and-mortar presence — a digital-first existence that calls for newand innovative approaches to customer support, payments, and fraud The TP Business Insights Lab developed its proprietary Global InsightsSurvey to help organizations understand and anticipate customers’needs. The ninth edition of our survey featured consumers from 16countries across 20 sectors, totaling over 86,000 interviews. Through anin-depth analysis of customers’ experience with their brands, this paper Exploring the current E-commerce landscape Supporting the evidence of E-commerce growth, a staggering91% of the consumers initially surveyed declare they havebought at least one item online in the past 12 months. PERCENTAGE OF CONSUMERS BUYING EACH CATEGORY ONLINE INTHE LAST 12 MONTHS (MULTIPLE ANSWERS POSSIBLE) For this survey, we define E-commerce as encompassingthe online purchase of a wide range of products such asapparel and accessories, books, music, videos, computers and 9 out of 10 consumers 25% Five elements shaping the E-commerce landscape MOBILE APPSMobile apps are helping to fuel E-commerce activity with NEW PAYMENT MODALITIESCurrently, credit and debit cards are the method their ability to provide better and more personalizedexperiences. The number of online shoppers using theirbrand’s apps increased by 24% since 2019, driven byremarkable growth from older generations and sustained of choice for 40% of E-retail consumers, with 24%preferring credit cards and 16% debit cards. Despitebeing a much more recent option, digital/mobile CUSTOMER SUPPORTIn today’s increasingly crowded E-commerce arena, standing out requires more than products andservices. Good support experiences are a powerfultool to drive repeat purchases, improving loyalty by10% compared to those not contacting. Conversely, AUGMENTED OR VIRTUAL REALITYAnother factor that promises to drive E-retail activity is augmented reality (AR) and virtual reality (VR) technology.Case in point: Given the opportunity, 78% of respondentswould be willing to use VR/AR in their shopping TRUST AND SAFETYWith 14% of E-retail consumers admitting to fraud or personal information theft attempts associated withonline retailers, security has become a paramount A critical juncture for customer support Email and web forms, traditionally online retailers’ main way of deliveringsupport, remain the predominant form of contact. Yet, reliance on emailas a customer-brand communication tool is declining. According tosurvey data from 2017, approximately half of E-commerce clients seeking As E-commerce’s impact on the retail sector intensifies, customer supportwill increasingly become a strategic imperative for maintaining customersatisfaction and loyalty in a highly competitive landscape. Powered by technology, innovation, and new digital solutions, today’sconsumers can be delighted by a variety of contact options at theirfingertips. In fact, compared to pre-pandemic, the average number of In turn, other channels are rising both in the E-commerce space and out.So, how does E-commerce compare to other sectors? Online shoppers use fewer channels than most other sectors. The impact of a good channel strategy While the increase in channel diversity is noteworthy, E-retail hasa lower percentage of users on digital rising stars such as instantmessaging or video than other sectors. The lower usage of somedigital channels compared to other sectors poses an intriguing To gauge satisfaction, we used a scale of 0 to 10, where 10 indicatesthe highest satisfaction level with the channels provided. Findingsshow that 25% of online shoppers display low satisfaction with thesupport options provided, 30% gave it a neutral rating, and 42% Here lies a significant differentiation opportunity for online retailerssince the delta between liking or disliking the available options is a How do online shoppers prefer to contact their brands? When asked to select a single favorite channel, over one in five consumers prefer voice. For Millennials, however, who represent the predominant agegroup of E-shoppers, their favorite channel is neither voice nor email but rather chat with a live agent. A consumer’s ability to access their favorite channel depends on a variety of factors, such as availability and convenience. As it stands, only 37% of E-retailcustomers used their preferred channel for their last contact, suggesting there may be constraints and/or limitations to accessing certain channels. Building long-term success In today’s dynam