Tag: retail

10 Jan 2017
travel and retail customers demand self-service

Travel and retail customers demand self-service: will you answer the call?

For travel and ecommerce sites in the months after New Year’s, bringing the right kind of traffic to your site can be tricky, and making the most of it is even harder. The residual uptick in activity of holiday aftermath turns into a weight on your support staff, as visits to your site are more often to make returns and search for answers to last-minute-travel-related questions than to make new purchases or book new trips.

Address common customer service issues with self-service

In travel, the end of the holidays and the blanket of cold weather over many popular travel destinations contribute to lots of homebound families spending quality time in the living room by the fireplace. Knowing this combines with the ability to segment and intelligent tech to provide contextual, personalized answers and allow your site to make the most of visitors and impress them with facilitated self-service and targeted experiences.

In ecommerce, call centers often shed their seasonal workers and find themselves needing resources to deflect a large number of calls without the manpower. With an intelligent self-service solution that draws answers from a centralized knowledge base, customers can self-serve and agents are armed with easily-accessible, consistent information and can address problems, focus on higher-level issues, and upsell.

Will you answer the call?

2017 just started, and now is the time to make sure the year is the best one yet for customer experience on your site. With a holistic, omni-channel customer self-service solution, you increase CSAT and customer retention for a more profitable new year. When you ensure coverage across all touch-points and consistent answers with assistance on all channels, you make sure you are holding up your end of the bargain. With self-service, you are taking the fight to your competitors’ doorstep, saying “I’m covered, are you?”

Read more about creating a winning cx with self-service for travel and for retail.

10 Nov 2016

How tracking ecommerce metrics makes the holiday season brighter for online merchants

They are the second greatest gift any ecommerce merchant will receive in the holiday season, after the cold, hard holiday cash that can make or break an ecommerce retailer’s entire year, of course. But, surprisingly, in the rush of business that consumes them from Thanksgiving through the New Year, a lot of retailers overlook the valuable ecommerce metrics that flow in along with the cash. And that’s an oversight that can cost heavily in the long-run.

The reason is that every one of those all-important purchases is accompanied by data that can be captured and integrated and analyzed, and then turned into actionable insights that can remake those one-time holiday shoppers into long-term, loyal customers with a lifetime value many times greater than the initial purchase.

The question is which ecommerce metrics to track, and how, in order to foster a high rate of customer retention.

Six essential ecommerce metrics for holidays and every day

If you can think it, you can count it. The reality is that businesses can incorporate a seemingly open-ended range of metrics into their data collection and analysis, especially with the customizable, integrated dashboards now at their disposal. But, if the goal is enhanced customer satisfaction leading to increased customer retention, not all metrics are created equal.

Keeping an eye on the customer retention prize, key ecommerce metrics such as conversion rate, shopping cart abandonment, churn rate, repeat rate, and customer lifetime value can shine a light on what’s right and what’s wrong about the customer experience, and point the way to refining and improving it. And with the assistance of the right tools for the job, tracking key ecommerce metrics no longer has to be the onerous task it was in the manual age.

Conversion Rate

Before a business can take steps to retain customers, it has to acquire them. The conversion rate reveals how well that’s happening. Arrived at simply by dividing the number of site visitors who make a purchase by the number of visitors overall, it’s a metric that undergirds all the rest.

When potential customers enter an ecommerce website, what are the chances they will make a purchase? Across industries, a target rate is three percent, although specific industries will have rates that vary. If it varies significantly in the wrong direction, though, it may be a strong indication that the customer experience is not what it should be. Because conversion rate is a big picture ecommerce metric tracking large numbers of site visitors, it’s one that is often fully monitored and assessed on a monthly basis to review bulk data, but daily checks are also essential because they can pinpoint unusual fluctuations in the rate that may reveal problems with the website itself.

Shopping Cart Abandonment

It’s disconcerting to see a customer get all the way up to the cash register and then change his mind, leaving behind merchandise in which he was clearly interested. But it’s far from an unusual occurrence. Research from the Baynard Institute shows an average abandonment rate of an eye-opening 68.8 percent. Much of that simply reflects the way in which people surf the web, and the propensity most of us have to “window shop.”

But in other instances abandonment points to more serious buyer resistance, perhaps over price or concerns about quality that weren’t laid to rest at earlier touchpoints. Technical issues, too, are common reasons potential buyers leave – too many hurdles to jump in the checkout process, complicated navigation, and concerns about the security of payments among them. For many businesses, an abandoned shopping cart is an opportunity to reach out to would-be customers in the hope of learning why they left and gleaning information that can reduce the rate. Because the metric is closely related to the conversion rate – reducing the abandonment rate will increase the conversion rate- tracking tends to follow the same monthly cycle.

Churn Rate

Like conversion rate, churn rate is expressed as a percentage, in this case the percentage of customers who make a purchase and don’t return, the flip side of customer retention. Given the high cost of acquisition and the acknowledged need for companies to develop long-term, high-value relationships with loyal customers, it’s a must-monitor ecommerce metric.

For ecommerce businesses, knowing what percentage of customers can be expected to churn within a given period becomes both a measure of how successfully it’s giving customers the experience they expect and a powerful predictive tool for balancing acquisition and retention efforts. Churn rate is typically measured in months or quarters, depending on the average time in which the overall customer base will make a repeat purchase.

Repeat Purchase Rate

Repeat purchase rate simply tracks the percentage of customers who make a repeat purchase within a given period. It is one of the strongest indicators of the quality of the customer experience and the success of retention efforts.

As with other important metrics, repeat purchase rate is one piece of the data puzzle that, as the various elements are integrated and analyzed, provides a periodic snapshot of whether targets are being met or missed. It can provide either a bird’s-eye view of how successfully customers are being retained or, thanks to modern, real-time dashboards, home in on specific elements of a marketing campaign by tracking a promotion or other initiative daily or weekly to gauge its success.

Customer Lifetime Value

This is the brass ring, for any business, because the path to business success is lined with loyal customers, as an article in Forbes makes clear. If online retailers manage to retain ten percent of their customers, the author noted, they will double their revenue.

Tracking customer lifetime value (LTV) on a continuing basis provides the ecommerce metric that can put such goals in reach. It’s a projection of the revenue a business can expect from a customer over time, grounded in his or her past behavior as well as the average lifetime spending of the larger customer base.

LTV can guide decisions about budgeting for customer acquisition – how much should a business spend to gain a customer? – and also help calculate ROI. The cost of not knowing LTV can be enormous, as an article on For Entrepreneurs emphasizes. The number one reason startups fail, the author argues, is that it costs them more to acquire a customer than that customer’s LTV will prove to be.

‘Tis the season to begin tracking ecommerce metrics

There’s no better time than the busy holiday season, which sees a large inflow of new and repeat customers alike, to begin tracking these valuable ecommerce metrics. The information gleaned can be a priceless gift for any merchant.

04 Aug 2016
Enhance Your In-Store Retail Experience by Bridging Off Line and On-Line

Enhance Your In-Store Retail Experience by Bridging Off Line and On-Line

You know that iconic image, the one of the triumphant female shopper, bouncing down the city street with her hands clutching her purchases, in brightly colored, luxurious paper shopping bags? Surely, with all those packages in hand she clearly had the shopping trip we all dream about. But today, with the proliferation of e-commerce and especially since mobile apps have taken over, leaving one’s house to shop is almost becoming a quaint memory, a thing of the past like cameras that aren’t part of a mobile device and fax machines. The hard truth is that if there exists a digital option that makes any given action easier and more intuitive, people will stick with that option and leave their old ways behind.

But fear not, if you’re a brick and mortar store owner in 2016, there are lots of engaging ways to bridge the gap between online and instore experiences that will keep customers coming through your door and to your website . Let’s take a look at some innovative ways different brands are bridging technology and the classic in-store experience to keep your brand relevant and your customers connected.

In Store Mobile Apps Enhance the customer Retail Experience

With the fact that two thirds of shoppers are coming in to your store armed with their mobile devices, it goes without saying that mobile is the most important way to reach your shoppers today. Most future-conscious brands already have websites and an app running alongside their brick and mortar operations, but some brands use their apps to drive shoppers to stores as well.

Innovative brands like Target are working to create specific in-store apps, ones that enhance the IRL shopping experience from the shopper’s mobile device. Their in store app, Cartwheelhelps shoppers start their shopping at the comfort of their couch and later on snag in-store-only deals. By selecting in-app deals beforehand, users scan items in store and watch the savings roll in at checkout. Push notifications help keep users in the know about deals they might be interested in and since Cartwheel users have to sign up for the app though their Facebook accounts, all deals snagged are posted to the user’s Facebook page, in a unique social twist.

In-Store Touch screens not Only for High End Retail

Fashion retailer Rebecca Minkoff has given glam shopping a cutting edge makeover. A visit to anyone of her four luxury shops in the US is a tour de force of the confluence of haute couture and digitization. One specific aspect of their plan to keep shoppers engaged in the in-store experience is the strategic placement of touch-screens throughout the stores. Walls are not merely walls, but rather gigantic touch screens that allow the user to scroll through items and then request their chosen items to be sent to fitting rooms across the store. The mirror also makes suggestions about what items to pair with the ones already in the fitting room and can remember what sizes and colors customers prefer.

Calling themselves “The Store of the Future”, Minkoff’s vision is what they call “retail 3.0” – One that’s reinventing both the online and in store shopping experience. They want to take the best aspects of e-commerce and leverage those experiences
in-store to tackle in-store shopper’s most pressing pain points by way of technology.

QR Codes are Not a Thing of the Past

Think about it – why do shoppers prefer to shop from the comfort of their home to going to stores? We all know that part of the reason is that shopping in stores means wading through piles of stuff we don’t want until we find what we do want. To solve this issue Hointer Jeans, a specialty denim shop in Seattle (that eventually developed into a successful e-commerce software platform based on the success of their implementation of innovative digital tools) started adding QR codes to their jeans to make them scannable.

Customers, after downloading the stores app who loathe the idea of hunting for the perfect item find the pair they like, simply walk though the store and scan the QR code of items they like and add in size information, to find it all delivered to their fitting room. Via the app they can request different items to be brought to their firing rooms once they are inside and can pay for the jeans they want right from the or mobile, streamlining the entire experience.

Using QR codes also allows users to scan codes for more information and to find the best prices on similar items. Use QR codes to unlock coupons and deals on products as well.

In-store Mobile Beacons Lets Your Customers Know What on Right Now

Also called Proximity Technology, mobile beacons are the hottest way to say “you are here” at the moment. By way of stickers attached to items that emit BLE, or Bluetooth low energy signals, they send out messages to customers who have downloaded a store’s app to let them know about trending discount and specials when they are close by. Nationwide makeup shop Sephora, aiming at the millennial crowd is using beacons to let their shoppers who have opted to get notifications know about deals on products they are currently looking at or are nearby in their stores.

Click&Collect – Controlled Convenience

We all love to shop from our proverbial couches, but we hate the wait – you know the two to seven day lag between placing an order and delivery. Click and collect, already a big concept in the UK and Australia, allows shoppers to place their orders and then pick up their items from the closest store, all packaged and ready to go. Picking up their own items on their own terms frees customers from that annoying lag time and saves on delivery costs.

Click and collect is a great way to draw customers back into stores after online purchase and a great opportunity to cross sell related items. Retailers like IKEA, Kmart and the UK’s Tesco all use click and collect to provide an innovative blend of the convenience of online shopping and the IRL experience.

Burberry, Taking In-store Retail Experience to New Levels

Then there is Burberry’s.

One of Britain’s biggest retailers, once primarily known for its staid signature brown and red plaid check box pattern, Burberry’s has reinvented itself as the ultimate in combining the IRL and digital experience. A peek into their flagship store in London is like peering into a futuristic catwalk with the notable inclusion of clothing racks and customer associates. Alive with pulsing music, floor to ceiling digital walls that display anything from clothing, to models wearing that clothing to virtual rain streaming down them, and mirrors that relay product information and show other items that match the ones you’ve got in your hands, the store is a digital Mecca, a real life and virtual experience bursting with ways to engage and enthrall customers from the moment they step inside.

From those digital walls and mirrors to the associates armed with iPads for instant information to integration with their social media platforms and campaigns, Burberrys intention is clearly to fuse the in-store and digital experience. And they have it down to a perfectly artful science. Looking for a top to match that tailored jacket? Just touch the mirror, it will give you back ideas for matching items and have them sent to your fitting room. RFID tags on items means that everything is searchable and can even activate those mirrored walls to display those same items in other colors and styles. It’s fully immersive, spanning most senses including sound, touch, sight and smell, all to create an incredibly rich and integrated experience, one that could never be matched online or in app.

Once thought to be on its way down, Burberrys has proven that by embracing digital, any brand can make itself relevant and engage their customers. According to CEO Angela Ahrendt “I grew up in a physical world; and I speak English. The next generation is growing up in a digital world; and they speak social.”

What can you do to keep customers coming in your doors?

Digital is transforming the way people shop, online and off. In today’s digitally inclined world, it’s no longer a question of whether or not to bridge the online and instore experience. Brand who want to remain relevant know that they must incorporate digital to keep their customers coming back.

14 Jul 2016
Omni-Channel retailing Experience

Why it is necessary to shift from Multi-Channel to Omni-Channel retailing Experience?

What is Multi-channel compared to Omni channel retailing?

Customers reach out to organizations and businesses in a variety of ways today, including text, web, mobile, social media, email, and phone. Businesses that provide customer service on all of these channels in an integrated way, rather than in silos, deliver the consistent experience consumers crave. Multi-channel retail experiences simply imply the use of multiple channels when delivering customer experience. Omni-channel experiences, especially in retail, offer seamless consistency across channels.

Omni-channel experiences are critical, as today’s customers are using mobile devices for internet access more frequently – more frequently, in fact, than they use desktop PCs. These consumers may initiate contact with an organization on one channel and later engage with the same brand through another, often utilizing multiple devices at the same time. Technology is also pushing forth new mediums extending the customer experience beyond simply devices, but also to platforms. For example, messaging applications are now quickly becoming a new channel for customer engagement and considered to be a channel separate from others.


Technology and Consumer Expectations Drive the Need for Omni-Channel Retail Solutions

Entrepreneur and Forbes contributor Drew Hendricks explains that customer service has evolved as technology has evolved. The days of people reaching for the yellow pages to contact businesses are over, as customers moved to the Internet at home and then to smartphones and tablets to reach out to businesses.

A recent study shows that 63% of U.S. adults use mobile devices at least several times per month to seek customer support, and 90% have had poor experiences seeking customer support on mobile.

These customers are defining their customer experience by how well companies handle their interactions on their website, through mobile technologies, and across the myriad channels through which they engage with brands. Getting this right, with consistent delivery and relevant content that meets customer needs and demands at the right time and on their preferred channels, is crucial for success. 

Delivering an Omni-Channel Experience and the Benefits of Customer Satisfaction

Top-notch customer experiences affect the bottom line in a number of ways:

  • 45% of consumers in the U.S. abandon online transactions if their questions or concerns are not addressed quickly
  • 89% of consumers stop doing business with companies that deliver poor customer service
  • Consumers are two times more likely to share bad customer service experiences than positive experiences
  • Customers are four times more likely to purchase from competitors when an issue is related to service, versus price or product-related issues
  • 33% of consumers will recommend brands that provide quick, yet ineffective responses
  • 17% of consumers recommend brands that provide slow but effective solutions
  • 12 positive experiences are needed to make up for one negative experience
  • 70% of buying experiences depend on how customers feel they are being treated
  • 83% of consumers require at least some level of support while making an online purchase

That’s why thriving organizations have already shifted their focus to a customer-centric approach with mobile responsiveness being a top priority. So far, the data shows that companies using tools and strategies to improve mobile customer experience are winning. As Hendricks points out, “84% of CIOs at customer-centric companies now focus on the mobile customer experience.” In fact, businesses that have adopted a “mobile-friendly user experience, including responsive websites and location-based search engine optimization,” have gained a competitive edge.

Research also shows that consumers will spend more money with a company that provides a positive experience. It isn’t any wonder, then, that Gartner found that 89% of businesses plan to compete solely on the basis of customer experience.

Customer expectations also affect consumers’ levels of satisfaction, and leading companies have gone above and beyond FAQ pages to provide round-the-clock help with services that monitor social media and the Internet for mentions by customers and social media managers who maintain a consistent presence on social media. By responding to customers quickly and appropriately on social media, organizations often save their reputations and demonstrate a willingness to correct issues to ensure satisfaction.

Omni-channel customer service experience also helps to reduce customer churn, which Accenture found is attributed to poor quality customer service. Similarly, Bain & Co reports that a 10% increase in customer retention levels results in a 30% increase in a company’s value.


Making Multi-Channel Retailing Consistent

Companies must take care not to simply offer a multi-channel retailing experiences, though. To deliver a truly omni-channel retail experience, organizations must assume that consumers will begin an interaction in one channel and then move to another when seeking a resolution. But the focus shouldn’t be on the channels, rather on the customer.

Customers are too often segmented by channel – assuming that the company has “Twitter customers,” “Facebook customers,” and “mobile customers,” for example, when in reality companies have a single set of consumers who just happen to engage with the brand on a multitude of channels. Customers’ needs and demands remain consistent across the touchpoints from which they interact with a company.

Consumers must perceive their transitions from one channel to the next as being fluid. Best-in-class retailers are 30% more likely to optimize for omni-channel simplicity to achieve consistency and meet the needs of consumers across channels.

One of the most efficient ways to improve the customer experience is to tap into customer analytics to pinpoint consumer-preferred channels and gain insights into the effectiveness of the company’s content and knowledge base where addressing these concerns in real-time. Analytics also reveal which channels most successfully meet customer expectations, so organizations can tailor their approach for laser-targeted, consistent delivery. Leveraging technologies that reach consumers across channels and using available data to monitor and optimize the experience gives modern organizations a competitive edge.

02 Feb 2015
Are You Valuing Your Customers' Time?

Are You Valuing Your Customers’ Time?

Time and again, customers show us they value their time nearly as much as their money. Brick and mortar shoppers fight for the parking space closest to the store. Inside stores, we all scour the checkout area for the shortest queue. Amazon recently reported it added 10 million new Prime subscribers to its 2-day shipping service.*

When it comes to online shoppers, their time may be as valuable as the merchant and product they select, if not more.

customers expect good customer service nanorep

It’s About Time

For 71 percent of online shoppers, valuing their time is the most important thing a company can do to provide good service, and 52 percent will abandon online purchases if they can’t find a quick answer, according to Forrester Research. To maximize customer experience, look at the buying process you’ve created for your online customers through the lens of time.

Think of it this way: Imagine that what your customers really want, and what you’re really selling, is time. Imagine that your particular product is of secondary importance. What does this mean for how you structure the entire buying process? What actions would you take if you viewed time as an equal weight in the purchase decision?

For CabinetParts.com, it was a question of how to value customers’ time while also valuing the company’s highly-qualified service representatives, all ex-handymen and builders who were spending too much time on “small” and repetitive questions instead of advising clients about additional products to add to their carts. How they solved this problem has to do with how they addressed their customers’ and agents’ time.

Take the Time

Online customer experience often comes down to a finely coordinated dance between UX design and customer service. Consider these tips for giving time a higher value in the mix.

Understand their time. Use your site logs to establish a comprehensive picture of the time shoppers spend with you. What is the average session length?   How does it differ between previous buyers and new customers? At what point in the process do they spend the most time? How much time did they spend at what stage just before they abandoned you?

Clear out the clutter. Research by Salisbury, University shows that online shoppers prefer clean, clear, uncluttered pages to complex, multi-option home pages. Get them where they need to go fast.

Some call center managers work closely with their Web teams to continuously update the home page based on the topics that generate the most calls. CabinetParts.com explored ways to bring the information from the call center closer to its customers during the online buying process. Its solution was to use Nanorep’s floating widget to encourage online visitors to ask product questions on any product page. This moved a high volume of basic questions to the self-service engine and saved customers time while freeing up agent time.

Time the whole experience. We know that people base buying decisions on both shipping costs and delivery time. Assume that they’re visiting you at the last minute in their schedule and help them out. Identify and tag the relevant pages and actions in the customer purchase experience.  What’s the entire window of time from the moment a customer lands on your site to when the product or service is delivered?

shoppers prefer clean clear uncluttered pages

The Ticking Clock

Customer questions, concerns and problems are often the bugaboo of online customer experience. Resolving them quickly requires care for your customers’ time along with savvy insight into what makes them tick.

CabinetParts.com noticed that in the floating widget, shoppers repeatedly asked about shipping so they adapted their page layout to make shipping policies more prominent. This allowed customers to estimate the time required for delivery in a timesaving way.

Use business intelligence to mine questions coming into the call center and explore innovative methods to help your customers save time based on their input. CabinetParts.com uses Nanorep’s self-service solution to constantly enriche its knowledge base, tweaking answers to better meet and quickly resolve customer questions. Delivering instant, accurate answers online not only saves their customers’ time, CabinetParts.com saves an estimated 30% of its agents’ time. Time, after all, is money.

*The New York Times, December 26, 2014

20 May 2013
Why Your Customers Need to Trust Your Website

Why Your Customers Need to Trust Your Website

What do visitors look for when deciding whether to make a purchase from your website?

According to a new study by Rakuten, the answer seems to be first price and then trust:

…while consumers love nothing better than a bargain (61%), almost half of global shoppers (49%) surveyed consider the reliability of the retailer to be paramount when making purchase decisions online, highlighting the importance of trust.

The interest in the lowest-possible prices is understandable in an economic climate that is still wavering between recession and slow growth. However, having low prices is not the end-all, be-all of increasing sales and revenue. Too many random e-commerce websites advertise deals that are seemingly too good to be true – and, in reality, that is usually the case.

Customers will pay higher prices in exchange for purchasing from sites that are well-known, reputable, and trustworthy – one could call it a “security premium.” After all, would you give your credit-card details to a random, unknown website just to save three dollars? Most people would rather pay a bit more for a known brand and one that provides a consistent customer service and shopping experience. As Rakuten U.S. Division COO and CMO Bernard Luthi said:

This research shows that, while price is important, shoppers are increasingly looking for more than that online, they want brands they can rely on, that deliver entertaining and secure shopping experiences… Retailers need to focus on creating a reliable shopping experience in order to build loyal consumers who are happy to come directly to them for their shopping needs. Competition online is evolving, discerning shoppers will always look for a good deal, but as retailers we need to move away from a model of unsustainable cost cutting towards value creation.

The Rakuten study is not alone. The Yankee Group that states people are now less likely to purchase items online because of trust issues:

…44 percent of consumers say they’re less likely than they were a year ago to trust a Web merchant with personal data. And more than half of consumers (55 percent) have experienced security incidents that caused them to think twice about using an e-commerce Web site.

Clearly, e-commerce websites need to compete not only on price but also on trust. Merely offering the best price to customers will not result in more sales if they do not trust your company with their personal and financial details.

To increase your website’s “trust factor,” there are several actions you can take:

  • Obtain a Better Business Bureau accreditation in the United States (or a similar association in your country)
  • Display badges, icons, seals, and logos that show that your website uses modern encryption technology and is guarded by reputable security software
  • Show proof that credit-card transactions are processed securely

However, presenting security icons and logos on your site alone are not enough to win the customers trust and business. E-commerce websites need to employ a complete strategy to provide trustworthy information and reliable experience through different channels.  Here are a few examples:

  • Be consistent. If your website’s blog published a new post every week, do not skip a week. Make sure that your web host serves your site with minimal downtime.
  • Do not be anonymous. Include photos, biographies, and other real information about the staff of your website so that visitors know that the owners and managers are real, verifiable people.
  • Use testimonials and case studies. Showcase quotes, stories, and more from real, satisfied customers. Do not make up this information.
  • Include guarantees. Incorporate money-back guarantees or 30-day guarantees for your products or services – and do not renege on these items. (A bad experience can be posted on social media and then spread.)
  • Use customer-friendly widgets. Customers place more trust on websites that actually help them and do not merely push them to make a purchase. Items, for example, that provide engagement, customer support, and personal shopping assistance increase trust – and thereby sales revenue over the long-term.

And why is that? Such strategies make e-commerce websites more social. A research paper by Stanford University professors Stephen Guo, Mengqiu Wang, and Jure Leskovec on Taobao, one of the largest e-commerce websites in the world, found that:

Through the study of directed closure rules, we empirically verify that implicit information passing is present in the Taobao network, and show that communication between buyers is a fundamental driver of purchasing activity. We then investigate the directed triadic closure process and explain how link formation is highly dependent upon the distribution of buyer/seller roles for the nodes of a social commerce network. Third, we use Taobao review data to demonstrate how high seller ratings are associated with product price premiums, and thus quantify a price for trust. Finally, we develop a machine learning model to accurately predict consumer choice, and demonstrate that the social network is the most important feature in predicting how consumers choose their transaction partners.

Social signals are some of the most-important factors that determine the trustworthiness of a website – and its overall sales volume. The more e-commerce websites can interact and establish trust via social-media tools, the more that customers will trust the websites and recommend them to their friends via those social networks.

If your website visitors do not trust your company, then having low prices will not matter. They still will not buy from you.