A new retail report by CFI Group and Radial shows that online retailers should understand Big Spenders, customers who spend $500+ annually online with expectations for a smooth, well-integrated experience.
ANN ARBOR, Mich., August 2, 2018 – A CFI Group and Radial survey of 500 online retail customers shows that Big Spenders make up 39% of all retail eCommerce customers. These Big Spenders represent significant revenue for retailers, but retailers must be prepared to deliver a great experience for Big Spenders even as traffic surges during peak season.
“Scaling for peak season can be challenging for retailers,” says Robin Gomez, Director of Data and Analytics for Radial. “Retail operations must be scalable to accommodate the large bursts of activity experienced during peak season, while delivering an experience that meets the high expectations of today’s sophisticated online shopper. A clumsy online experience, delays in customer service response times, or inadequate customer support options can have a severe impact on sales and customer loyalty.”
Retailers must understand Big Spenders and prepare to meet their expectations in three areas: an intuitive website experience, live agent interactions, and agent account access.
INTUITIVE WEBSITE EXPERIENCES
Big Spenders have high expectations for the online experience. They think that they should be able to handle the basics of eCommerce without the need to interact with a live agent.
For example, 61% of Big Spenders expect that an online order can be placed without needing to connect with customer service, compared to the 42% of Small Spenders who expect unaided eCommerce order placement.
LIVE AGENTS FOR COMPLEX MATTERS
Big Spenders expect to conduct common eCommerce activities independently without any difficulties. Only when they face an issue that is complex do Big Spenders prefer to interact with a live agent over an automated system.
For example, 50% of Big Spenders want a live agent over an automated system when resolving a billing inquiry, but only 16% prefer a live agent when needing help with placing an order.
AGENTS WITH FULL ACCOUNT ACCESS
Big Spenders are more experienced with eCommerce, so they are more likely to recognize
excellence in eCommerce customer service. Consequently, they tend to have high expectations
for the information and systems the agents can access.
For example, 83% of Big Spenders expect the agent to see a personal order history, compared
to just 58% for Small Spenders.
About CFI Group (www.cfigroup.com)
Since 1988, CFI Group has delivered customer experience measurement and business insights
from its Ann Arbor, Michigan headquarters and a network of global offices. As founding partner
of the American Customer Satisfaction Index (ACSI), CFI Group is the only company within the
United States licensed to apply customized ACSI methodology in both the private and public
sectors. Using patented technology and top research experts, CFI Group uncovers the business
drivers and financial impact of customer experience.
About Radial (www.radial.com)
Radial Inc., a bpost group company, is the leader in omnichannel commerce technology and
operations, enabling brands and retailers to profitably exceed retail customer expectations.
Radial’s technical, powerful omnichannel solutions connect supply and demand through efficient
fulfillment and transportation options, intelligent fraud detection, payments, and tax systems,
and personalized customer care services. Hundreds of retailers and brands confidently partner
with Radial to simplify their post-click commerce and improve their customer experiences.
Radial brings flexibility and scalability to their supply chains and optimizes how, when and
where orders go from desire to delivery.