Global Ecommerce can be a rocky experience from an online shopper’s point of view. This can depend on many different factors whether that be the geographical location of a customer, trade politics, culture, the ecommerce maturity of the market etc. Have you ever wondered how the consumer's trust looks around the world?
Our aim is to guide you through this complex landscape with perspective from across the globe. How do we do this? Through our comprehensive Ecommerce Reports (both regional- and country-based). Below you’ll find just some of the ecommerce and consumer insights from this year’s editions.
It’s been in the headlines over the last couple of years, and still the trade effects are largely unknown. But from the consumers perspective the current situation is already having an effect on their trust when it comes to ecommerce. The 2018 United Kingdom Ecommerce Report illustrated that 33% of online shoppers stated that they have some loss of trust in premium brands that are produced abroad.
The Spanish B2C ecommerce turnover in 2017 reached €23,905 (millions of euros), with an impressive growth rate of 25.23%. With the likes of JD.com moving into the region, knowing what is on the mind of its customers is crucial when creating the customer experience for the region.
So just how high up is trust? See for yourself below:
Often times ecommerce trends are based on the larger more well-known ecommerce markets such as Europe, the US or China. However, when it comes to the issues affecting the MENA region, they differ greatly to the more well know ecommerce patterns. Top of the list for online shopping in this region? Trust, and not just by a small margin, as you can see below:
A recent Forbes article put forward the huge potential for global brands to grow their ecommerce presence in the regions, with the fashion industry being highlighted in particular. When trying to expand your business to the new markets, its crucial to know what potential customers worry about, as by increasing their trust you can increase your potential revenue and differentiate yourself over your competitors.
With a relatively mature ecommerce market and some of the world’s most well-known brands such as H&M and Spotify, Sweden would seem like the perfect location to target when it comes to B2C ecommerce. However when looking at Q1 of 2018, trust came up frequently with Swedish consumers. In fact, 26% of respondents stated that not trusting the shop was the main reason not to choose a foreign online store. As well as this more general trust issue, there were aspects of trust related to returns (15%) and delivery (11%).
Warren Buffet might have been right about this one when it comes to US consumers. Salsify produced research stating that 83% of shoppers base their trust in a brand around previous positive experience. This is followed by the presence of ‘many good reviews’ (66%) and recommendations from family and friends (38%).
''We started in the Netherlands, expanded to Belgium and Germany and now also sell in China. Ecommerce is becoming global, faster than we think. A global trustmark belongs to global expansion.''- GeertJan Smits, Managing Director Flinders