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Online Retailers Losing Revenue Due To Website Issues

Online Retailers Losing Revenue Due To Website Issues

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Online retailers may have lost as much as $44 billion dollars over the past year due to transaction problems on their website, according to a new report released by Tealeaf and conducted by Harris Interactive.

The report found more than a quarter (27%) of online shoppers would turn to an online or offline competitor if they had an online transaction issue.

“The potential for lost revenue when customers have a negative online shopping experience is amplified by the rising use of social media," said Rebecca Ward, CEO of Tealeaf.

 

Tealeaf-Online-Retail

 

"The ‘echo chamber effect’ caused by frustrated customers who voice their displeasure on social networks can significantly damage an organization’s reputation. Proactively identifying website issues presents an opportunity for businesses to recover some of that $44 billion in potentially lost revenue, especially as we head into the upcoming holiday shopping season."

The report found if online shoppers experienced a problem while trying to conduct an online transaction, they would react in the following ways:

*66 percent contact customer service , including:

*53 percent call customer service

*36 percent email or log a web complaint with customer service

*32 percent abandon the transaction, including :

*27 percent turn to a competitor

 

Online Retailers Losing Revenue Due To Website Issues
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  • http://www.sitebyjames.com/ James

    Build it so it doesn’t fail silently. Make sure your “freelancers” are servicing the software. It’s not a scam… software takes alot to keep maintained, especially when servers are upgrading, software modules are changing, and third party services are changing.

    The web is not a static desktop. It’s a continually moving target. I think alot more people are really going to feel the pain over the next while and to be honest, I think it’s going to be a really big opportunity for large corporations to pick up what the others cannot afford to maintain. The ones who slip through the cracks will be at the mercy of the larger corporations who they themselves have a hard enough time dealing with everybody and everything…

    A little ranty… Just make it fail loudly, nobody is going to tell you if the website is broken. You will catch more people keeping problems a secret then you will find people reporting it. jmo…

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