A recent survey by retail solutions provider Instamojo revealed that authenticity, professionalism, digital literacy and payment gateways are the key factors that influence a consumer’s trust about an ecommerce platform.
Authenticity: Business owners pointed out that sometimes buyers are sceptical about the authenticity of the products, as well as that of the seller. Respondents specified that an elaborate ‘About Us’ page, describing product details with business address, and references to key team members are crucial.
Professionalism: A challenge for nano business owners is to adopt professional and systematic elements, such as assigning a proper order number, giving an approximate delivery window and making returns/refunds very transparent.
Digital Literacy: Despite years of experience in business, many businesses still experience buyers adding products to the cart but not completing the order. Lack of awareness of the various online payment gateways/options that are widely used is one of the biggest hindrances to online sales in developing economies.
Payment Gateways: A payment gateway acts as the backbone of the cashless economy. However, there needs to be more efficient customer support for small businesses. Small businesses need immediate grievance redress if payment is stuck at buyer’s end or receipt does not arrive from seller’s end in a timely manner.