Trust as the Key E-commerce Issue: Analysis and Solution

NEW YORK - Aug. 7, 2018 - PRLog -- E-commerce challenges

E-commerce is a dynamically developing sector of the global economy. With a help of information technologies, Internet companies get more opportunities to enter new markets, providing the Internet consumer with a huge potential for studying their products. Nowadays, e-commerce, being one of the main components of the "new economy", is gaining increasing practical importance.

At the same time, development of e-commerce causes various challenges: finding the products to sell, choosing the right technologies and partners, attracting and retaining customers, competing on price, data security, etc.

One of the main and fundamental issues of global e-commerce is trust. Comparing to traditional commerce, trust is more important for e-commerce since products and services purchased through the Internet cannot be immediately verified, and there are no rules and regulations.

Over 42% of consumers call "trust" the main barrier to purchasing online. Therefore, to succeed in the global e-commerce market, it is extremely important to create an atmosphere of trust for consumers, in particular, for those who make cross-border online purchases.

Analysis of customer behavior

It is important to note that e-commerce is transforming by merging with social networking. According to the studies, 53% of consumers say that social networks affect their online purchasing habits. As a result, shopping behavior of customers is changing too.

Earlier the consumer's behavior was like this:

Go to the store → find the product → remember it → look for the best offer in stores → purchase.

Nowadays, this behavioral model is becoming obsolete and new solutions appear, allowing consumers to make purchases at the moment of making decisions and without too much effort.

Modern customer behavior is closely connected with the phenomenon of impulsive buying. Consumers are driven by emotion and are willing to imitate and impress others. Therefore, they make many purchases just to fit with their peers, to imitate the style of their favorite celebrities or just because of the desire for high social status.

The statistics of impulsive buying looks rather promising – over 88% of Americans make impulse purchases and the amount spent on such purchases represents almost 40% of all e-commerce sales.

The percentage of e-commerce sales from impulsive buying could be higher if the customers had more trust towards the products they buy. So trust is also one of the barriers for impulsive buyers when they make their decision – to buy or not to buy. In fact, if they had more credibility towards the store/product, they would be more likely to make a purchase.

What's On Pic platform as the solution

One of the tools that can create an atmosphere of trust for consumer and offer a complex solution for the e-commerce future is What's On Pic platform (https://promo.whatsonpic.com/).

What's On Pic service realizes that modern customers tend to make purchases impulsively and it solves this problem by giving an opportunity to make quick purchases when browsing photos on social networks or on the Internet.

The issue of trust is solved by merging with social networks where people give their recommendations by commenting or making posts. For instance, if a person sees a post published by his friend about a specific product, he will be more willing to buy this product rather than when he sees this post made by a store.

People tend to trust their friends and they are more likely to believe people they know rather than unknown sellers or stores when making their purchases. Thus, recommendations made by friends create more trust and people feel more confidence towards recommended stores and products.

With What's On Pic users can not only view pictures, give them likes/dislikes, comment and share them but also buy and sell what they see.

In addition, What's On Pic provides users not only with a list of stores with product description, reviews, and the best prices but also with cashback rewards for tagging and publishing photos on social networks.

As a result, What's On Pic creates a more immediate connection between stores and buyers through photos and overcomes the gap between online shopping and social browsing. It improves online shopping experience building more trust and bringing benefits for all participants of e-commerce.

To learn more about What's On Pic, visit its official website (https://whatsonpic.com/).