Larry Freed
Larry Freed
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E-Retailers used to be at a disadvantage because customers can't touch and feel their products, but they've figured out that there's a whole lot more they can offer to make up for that. Today's online stores have evolved significantly, offering advances such as 360 degree views of products, customer reviews, side by side product comparisons, and extensive product information and specifications that often exceed what is available in a store or catalogue.
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Online retail is figuring out ways to compensate for being a virtual experience by providing a lot more information than you'd be able to find in-store. Many online stores offer extensive product information, side by side specification comparisons, customer reviews and 360 degree views, all from the convenience of your computer.
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In effect, online brokerage today is where e-retail was five years ago. Until the industry figures out how to overcome the barriers to moving online, the online brokerage category will struggle to increase satisfaction of its customers.
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Keeping shoppers happy while they are on the site is just one piece of the satisfaction equation. A bad experience with fulfillment or customer service could outweigh a positive experience on the site.
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It's reasonable to expect that such high levels of customer satisfaction will keep sales and revenue growing at Amazon in the coming year.
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Something's not right here. Retailers are sacrificing profit margin during the holidays to attract customers, and people are still unhappy with price.