Publicis Sapient conducted research among more than 7,600 consumers globally to understand their opinions on digital commerce experiences. We found that across industries, geographies, and generations, there are opportunities to grow and improve customers’ experiences with digital commerce.
Consumers often think of digital commerce as online purchases. It is much more than that—and it can be a large contributor to a customer’s overall satisfaction with a brand. Digital commerce, as defined in our survey, is the ability to complete a transaction between yourself and a brand online, virtually. Banking customers might use digital to open an account or take advantage of a new service. Insurance customers might make changes to their policies. Healthcare customers might use digital to pay fees for services.
One might hypothesize that commerce-centric industries like retail and consumer products (CP) are winning over customers with positive digital commerce experiences. Our data proved otherwise. Explore our research to learn more about where experiences are lacking—and what businesses can do about it.
Digital commerce is not just a story about retail. It includes a variety of interactions that expand beyond online shopping. Our research found that customer satisfaction with these experiences varies broadly across industries.
Surprisingly, banking & finance shows the highest level of satisfaction (58 percent), surpassing retail (53 percent) and CP (46 percent). Healthcare shows the lowest level of satisfaction, with only 32 percent of consumers satisfied with their digital experiences.
Although banking & finance shows the highest level of overall customer satisfaction, those levels vary across the countries we surveyed. The U.K. showed the highest level of satisfaction (68 percent)—above the global average of 58 percent—and Germany and France had the lowest (47 percent). However, one in five German/French consumers are not using digital commerce in banking. This lack of digital experiences may be a reason for consumers’ lower levels of satisfaction.
As the industry ranked the lowest, digital commerce experiences in healthcare are not meeting expectations. Globally, only 32 percent of consumers are satisfied with these experiences, illustrating a vast opportunity for improvement. Improving digital experiences can support patient outcomes. Patients engaging in digital experiences are three times less likely to have unmet health needs.
There are generational differences as well. Millennials showed the highest level of satisfaction (36 percent) with Boomers ranking the lowest (29 percent). Over a third (37 percent) of Boomers do not use digital commerce for their healthcare needs—this is the generation that perhaps could benefit most from having their health needs met.
The U.K. showed the highest level of satisfaction (68 percent)—above the global average of 58 percent—and Germany and France had the lowest (47 percent). Millennials showed the highest level of satisfaction (36 percent) with Boomers ranking the lowest (29 percent).
Satisfaction with digital commerce in healthcare also varies across the countries we surveyed. Consumers in Australia reflected the highest level of satisfaction at 43 percent with the U.K. ranking the lowest at 26 percent. Countries in Europe reflected low use of digital for healthcare, with roughly a third of consumers indicating they don’t use healthcare digital commerce (38 percent of consumers in the U.K., 34 percent in France, and 29 percent in Germany).
Customer expectations are only being met for a fraction of digital commerce experiences across industries. Some of the primary reasons for dissatisfaction include an inferior user experience (UX), lack of information customized to user preferences, or no end-to-end service.
In banking & finance—the sector with the highest level of customer satisfaction in digital commerce—the UX needing improvement was the top reason for dissatisfaction (21 percent).
Half of consumers (49 percent) said they are never dissatisfied with their experience. While it’s positive that half of consumers are overall pleased with their digital commerce experiences in banking & finance, there is clearly an opportunity for improvement across UX, content, and service mix.
The UX needing improvement was also the top reason for dissatisfaction for healthcare, the sector that ranked lowest (27 percent).
*The data presented in this graph was collected based on a survey question that permitted respondents to provide multiple answers. As a result, the total percentages may exceed 100%.*
Consumers all over the world and across industries cited the user experience needing improvement as their top reason for dissatisfaction with digital commerce. What do they think could be better? Globally, 57 percent said they want clearer content to describe products and services. Perhaps this is one reason for the low levels of satisfaction in product-centric industries like retail and CP. Imagine if users could access clear, concise, relevant content that makes it easier for them to scroll and make a decision.
Other aspects that consumers want to see improved are more seamless transactions (25 percent) and greater personalization (19 percent).
Our findings revealed similarities in how various generations feel about these improvements. But when it came to providing more clear content, 64 percent of boomers felt this should be a priority area compared to 48 percent of Gen Z consumers surveyed.
When consumers are not satisfied with their digital commerce experience, it affects their loyalty to a brand. In fact, 53 percent will switch to another brand and 19 percent won’t return as often. Only 9 percent would remain loyal to a brand.
With nearly three-fourths of consumers (72 percent) ready to leave or explore other options, companies clearly must pay attention to the gaps in digital commerce experiences. Consumers in the U.K. showed the highest probability of switching brands (59 percent compared to 47 percent in the U.S.).
Our data showed that older generations—millennials, Gen X, and boomers—are the most likely switchers, with more than half (56 percent) willing to switch to another brand. Our youngest cohort, Gen Z, was most likely to return to a brand, just not as often (28 percent).
Digital commerce is a key component of conducting business today, but our research shows that people aren’t necessarily having the kinds of experiences they want. This opens the door for companies to reimagine how they can transform digital commerce experiences to deliver on the demands of today’s customers. If done right, it can win business and drive loyalty. Here’s how:
The dissatisfaction shown in our data represents a disconnect, but it also reflects an opportunity for growth and improvement. Let’s get started.
YouGov administered the survey among more than 7,600 participants across Australia, France, Germany, the U.K., and the U.S. Conducted in November 2023, the purpose of the research was to enable a better understanding of what consumers value in digital commerce experiences. This data is intended to help businesses evolve their digital commerce experiences to keep customers, attract new business, build revenue, drive loyalty, and foster customer lifetime value.
Let’s talk about how to apply these findings to your business.
https://www.publicissapient.com/solutions/digital-commerce
The dissatisfaction shown in our data represents a disconnect, but it also reflects an opportunity for growth and improvement. Let’s get started.