Improving the Customer Experience and Mitigating Fraud
Executive Summary
This report based on a U.K. consumer survey conducted in June 2020, will help you understand:
- How changing U.K. consumer behavior has placed greater reliance on online payments since March 2020
- Why consumers are more concerned about fraud
- How eCommerce retailers strike a delicate balance between risk appropriate friction and improve customer experience
- Where complex checkout processes dramatically impact user acquisition and loyalty
Key Stats
- 71% percent of consumers have shopped with a new eCommerce retailer since the pandemic in March 2020
- Nearly 75% of people compare up to three eCommerce sites before completing a purchase
- Overall, fraud has increased across the board, but for 18-to-29- year-olds, this has grown by 19% in 2020 compared to 2019
Who Is This Report For?
All eCommerce retailers should be aware of changing consumer behavior in light of COVID-19. This report will educate CRM, fraud and risk professionals on the importance of a well-designed online experience and how fraud prevention technology can improve this while reducing card-not-present (CNP) fraud.
What Will I Learn?
Discover the trends impacting consumer behavior and customer experiences and learn how retailers can improve the customer journey while proactively preventing fraud.
Some of the Topics Include:
- Offering a high-quality customer experience to meet growing eCommerce reliance in light of COVID-19
- Providing 360-degree protection online to alleviate fraud concerns
- Creating a seamless checkout process to decrease basket abandonment rates
- Limiting risk while ensuring customers stay loyal by leveraging innovative technology
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This document is for educational purposes only and does not guarantee the functionality or features of LexisNexis® Risk Solutions products identified. LexisNexis Risk Solutions does not warrant this document is complete or error free.
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