User reviews are a decisive factor in online shopping, research reveals
One of the factors that weighs most heavily when it comes to making an online purchase are the reviews of users who have already bought the same product on e-commerce. Since consumers can't see the product or service with their own eyes, the opinion of others is more important, according to research published by Worldpay from FIS. "Reviews weigh heavily in any type of online purchase, because the person is not in front of the place they are buying from. They prioritize reviews more than the reputation of the institution itself," said Juan Pablo D'Antiochia, manager of Worldpay from FIS in Latin America. According to the survey, the credibility of the company is another decisive factor when making a purchase. Those who don't believe the seller won't create an account or provide credit card details. Anti-fraud payment services are also a concern for consumers. Authentication at the time of purchase At the time of purchase, most consumers are willing to authenticate the payment in two steps for security reasons. The global favorite is authentication by digital biometrics (56%), followed by facial recognition (19%) and voice recognition (10%). 15% say they would not use the feature. When it comes to confirming payment, the preferred method is e-mail, with 90% of the Brazilians interviewed preferring it. SMS, on the other hand, is the least popular in the country and is used as a confirmation option by only 14%. D'Antiochia attributes Brazilians' preference to the characteristics of each of the tools. "The amount of content you can put in an e-mail is much greater than in an SMS. If you have a problem in the future, for example, it's easier to send an email to prove the situation than a screenshot of an SMS," he told the publication. Worldpay from FIS carried out a study on digital payment experiences and the preferences of 33,000 consumers from 12 countries about online education. Article E-Commerce Brasil Social Digital Commerce offers modern resources to streamline and simplify any e-commerce operation. In addition to a full commerce knowledge base that makes all the difference in the commercial sphere. Want to increase your online sales? We deliver e-commerce projects according to your company's needs. Follow us on the web or get in touch:
Digital payments and excellence in the customer journey
From September onwards, many important dates are expected to heat up retail sales, starting with Customer Day (15/09), followed by Children's Day (12/10), Black Friday (25/11), Christmas and New Year. There is no doubt that e-commerce will continue to see sales growth as we have seen in recent semesters. According to the Brazilian E-Commerce Association (Abcomm), the sector could end 2022 with net revenue of up to R$ 165 billion. In fact, a pertinent topic at the moment is investing in the growing demand for multiple payment options. With customers becoming ever more demanding, an important trend for the next few years in the consumer's online shopping journey is to make the experience ever more optimized, fluid and unified, which includes payment methods. In this article we will look at digital payments, which are growing rapidly and are beginning to replace the use of paper bills and coins. A global survey by VISA Back to Business shows that 97% of Brazilian consumers will continue to use digital payments much more than they did in 2021. Around 581% of Brazilian small businesses said they already operate or intend to operate without cash from the coming months. 50% of consumers said in the survey that they intend to abandon the use of banknotes and coins. Will cash disappear? It's too early to say whether cash will simply disappear. But experts say that the trend is for it to be replaced by digital payments. We're not talking about just one form of payment, but other emerging formats that should impact e-commerce, such as the consolidation of Pix, e-wallets (digital wallets), contactless (payments via biometrics or facial recognition), m-commerce (via mobile devices), digital currencies and cryptocurrencies. How do you guarantee security and experience in the purchasing journey? For consumers to have an excellent shopping experience, companies will need to invest more and more in well-defined identity verification and fraud prevention strategies in order to keep customers confident in the consumer platform. A survey carried out in the first half of this year by Capterra, a software comparison platform, with 1,024 people from various regions of Brazil, found that 58% of respondents said they were afraid of being scammed and 48% said they didn't feel comfortable sharing their personal data. Companies are realizing that diversifying payment models, offering agility, transparency and security are key factors in building customer loyalty. Even if a sale is approved in seconds, there are a series of complex checks behind it, which guarantee the suitability and reliability of that purchase. This process involves artificial intelligence and data analysis of that business model (e-commerce and its customers) to assess whether the cardholder's credit card, for example, has been cloned or stolen. Anti-fraud carries out various checks to ensure that the purchase is safe. How can we reduce the high rate of cart abandonment? But in this shopping journey, there are several factors that still challenge digital entrepreneurs, including the high rate of cart abandonment, i.e. the final moment of a sale may not happen. In online shopping, this rate is higher than in physical stores and is linked to a series of factors that have to do with high shipping, complex and time-consuming forms, the value of the order not being enough for free shipping, distrust of the sales site, system instability, technical failures and, yes, limited means of payment. To avoid frustrating your customers when they complete their purchase, check out our six tips for converting an abandoned shopping cart into a completed purchase: What about your business, are you ready for the trends in digital payment methods? Social Digital Commerce has numerous solutions for implementing different payment methods in your online store, as well as cutting-edge technology, professionals specialized in logistics and the most modern operational management systems on the market. Get in touch and let's talk! Follow our networks or get in touch:
How to serve the Digital Consumer?
In the last five years we have witnessed a profound change in the relationship between company and consumer. The buying journey is now measured by the experience provided by a product or brand. The digital world has shortened the consumer journey and with so much access to information, the market has had to adapt to the new behaviors of the digital consumer, 5.0. The evolution of the consumer over the years In the 1990s, the consumer profile was more practical and direct. The relationship between salesperson and customer was limited to a physical space. This was the so-called 1.0 consumer. With the expansion of the market, consumers now had more purchasing options, making competition between brands more intense. At this point, consumer 2.0 began to compare products and services. In turn, companies had to evolve to show their difference. In a bigger leap, we have reached consumer 3.0, who now has more access to information via the internet, with more autonomy when it comes to making a purchase. Likewise, they don't just care about the quality of the product, but also about effective and fast service. In other words, consumer 3.0's main characteristic is brand loyalty. With the rapid transformations in consumer relations and the strong digital acceleration, consumer 4.0 was born. This new profile attracted attention because it valued brands that were able to personalize their service and offer a humanized service. Understanding the 5.0 consumer We are now in the 5.0 consumer phase. Understanding this new type of customer involves analyzing both the evolution of relationships and technological advances. With technological evolution, our ability to interact with an individual anywhere in the world has transformed the way people view social relationships. This process has seen verbal contact rapidly replaced by writing. Nowadays, phone calls are rarely used, as people type more than they speak. With countless digital resources at their disposal, the 5.0 consumer will take advantage of this communication to inform themselves, evaluate and investigate the provenance of brands. The main characteristics of the 5.0 consumer are that they are heavy users of new technologies and social networks, that they value instant service, that they value the experience before the product and that they are attuned to current trends. The profile of this type of consumer includes, for the most part, the so-called "zoomers", i.e. people who were born into the world with the internet popularized, also known as digital natives. There are some peculiar issues in this 5.0 consumer profile. One of them, if not the most important, is the fixation on pleasurable experiences. With this demand, companies tend to increasingly look for strategies that can deepen efforts towards Customer Experience and align expectations in service relationships, regardless of the purchasing channel. The challenge for brands is enormous. To stay in the race, they will have to invest more and more in developing skills and competencies that offer products and services with instant, personalized and agile service. Key trends in customer service 5.0 A recent survey by Accenture, entitled Global Life Reimagined, shows that half of people have reassessed, during the pandemic, what is essential for living. These consumers are leading companies to redefine their service strategies. It's no wonder that companies that want to remain in the ranking of the best service providers value being attentive to the needs of emerging customers. This new 5.0 consumer no longer wants to be treated as just a number, they want to be part of the same ecosystem as a company. And that's the crucial point. Check out 5 trends in digital customer service: Does your brand offer excellent customer service? Social Digital Commerce has countless solutions to boost your online store's customer service, as well as cutting-edge technology, professionals specialized in logistics and the most modern operational management systems on the market. Get in touch and let's talk! Follow our networks or get in touch:
