Deloitte Digital Report Finds Surprising Consumer-Brand Perception Gap in B2C Commerce

In a time of economic uncertainty when consumers are more vigilant than ever about where their dollars go, it is even more important for brands to deliver personalised shopping experiences to wow consumers, prove their value, and strengthen brand loyalty. 

Today, Deloitte Digital released the findings of its survey on B2C commerce, which found there is a bigger gap than expected in consumers’ perceptions of what brands have to offer them, and what brands think they offer to consumers.

Top Insights from the Report:

• Brands are 7x as likely as consumers to believe that augmented reality (AR) / virtual reality (VR) are important purchase drivers.
• 79% of B2C brands believe consumers are impressed by the online shopping experiences they provide, yet fewer than half of consumers actually are
• Customers spend 37% more with brands they find deliver consistent and positive commerce experiences.  
• Based on a comparison of respondents' self-reported performance, only one in five B2C brands could be described as a commerce standout in terms of having mature, agile, and effective commerce capabilities. These standouts realise more than twice the annual revenue growth.
• One in three respondents said they quit a brand in the last year because they didn’t like the brand’s return policy.
• 61% of consumers want simple cash-back loyalty programs, while only 19% of brands describe their own loyalty programs as very easy to understand.

The report dives into four main areas where the gap was the widest for consumers and key areas where brands can improve their commerce experiences to align with consumer expectations: 

• Nail the basics. Then perfect them. Repeat. Consumers noted that the basics are everything to them and are continuously re-evaluating their needs and expectations. On the flip side, the report found that brands are falling into the trap of nailing the basics, then 'setting and forgetting' them. Deloitte Digital’s report surveyed what percentage of brands would rate their abilities as good or excellent in areas like clear inventory availability and easy returns and exchanges compared to the percentage of customers who would agree. It found a gap of 20 percentage points or more in nearly every capability. Consumers don’t want flashy technology, they just want brands to continually refine their capabilities to align with what consumers now consider standard.
• Make it personal - and social. The survey found brands have not prioritised personalisation tools for commerce, nor have they made the most of their presence on social media. In today’s market, consumers are craving personalised experiences and want to feel heard by brands, Respondents noted they are more likely to purchase from a brand that personalises experiences, which means being attuned to generational preferences.
• Get a return on returns. Thirty percent (30%) of consumers reported they return products more now than they did a year ago, with millennials and gen z'ers driving this trend, and businesses are reporting the level of returns they are receiving is hurting their business. Brands should take this into account and leverage consumers’ behaviours to work in their favour.
• Easy does it for loyalty programs. Consumers reported they value simplicity overall, especially when it comes to reward programs. Deloitte Digital’s survey reported consumer goods brands are more likely to offer easy-to-understand rewards programs, while telecom brand loyalty programs were the biggest culprits of hidden intricacies. 

Check out the report here.