2020 Trends in Customer Experience
This Report Examines the Customer Experience Trends Set to Converge Making CX First a Top Priority in 2020:
In 2020 retailers and brands are facing a steeper challenge than ever. With Amazon on track to claim 47% of eCommerce revenues ‘that’s 5% of all retail sales’ and with other mass merchants claiming their own large slices of the revenue pie, the competition is tightening for the remainder 48% of the market share.
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Brands that prioritize the customer experience will emerge as winners. With the right tools, merchants can deliver on growing expectations for responsiveness, speed, and privacy across touchpoints, earning customer trust and loyalty.
In this in depth report we will be examining the following trends:
Automated Customer Service Moves to the Fore
Over nearly three decades, Internet shopping has ushered in many changes to the retail landscape — one of which is that a growing number of product categories are now commoditized. Whereas previously, shoppers wishing to comparison shop had to travel physically to other stores, or seek out new catalogs, now it’s easy to find multiple sources for even hard-to-find or niche products, all with a tap on a smartphone or click of a mouse.
Two-Way Conversations Flourish
As shoppers take the reins of communication with brands and expect relevant information on demand, merchants should prepare by retooling their customer service content for conversational use, as well as their mindset as they establish meaningful two-way dialogue with consumers.
Both Free *and* Fast Matter
In addition to responding instantly to customer service inquiries, brands are expected to fulfill orders more quickly than ever. Given that four in 10 customer service contacts are related to “WISMO” (“Where Is My Order?”), merchants striving to deliver superior customer experiences face pressure for speed on two fronts.
The Quality of AI Makes or Breaks Brands
Thanks to big data processing capabilities and innovations in machine learning, more and more vendors are touting AI-enhanced solutions to meet the needs of merchants who are scrambling to implement intelligent solutions. But it’s been a bumpy ride so far. Not all AI tools are created equal.
Privacy Gets Real
Even as brands turn to automated intelligence to meet expectations for great customer experiences, new restrictions are being placed on the data collected to inform those experiences. In 2020, California will enact the nation’s strictest data privacy law, following on the heels of Vermont, which has been regulating online data brokers since January of this year.