2014 Trends in Consumer Expectations

2014 Trends in Consumer Expectations

According to Oracle research, B2C companies are striving to move beyond acquisition and are working toward building loyalty and retention among their key customer segments.

B&T Magazine
Posted by B&T Magazine

B2B companies, on the other hand, are increasingly looking to deliver the types of commerce capabilities and customer experiences that have been the hallmark of great B2C e-commerce companies.

Consumer expectations continue to change the way both B2B and B2C businesses sell online. In B2C there is a renewed focus on increasing loyalty as competition grows. Meanwhile, B2B organisations are under increasing pressure to adopt B2C commerce best practices. Developing customer-centric approaches and investing in omni-channel initiatives will be key to online revenue growth for both B2B and B2C organisations in 2014.

OMC-Infographic

Other key findings of the research include:

  • Customer retention is the number one priority for both B2B and B2C respondents. However, in 2013, only 8% of B2B respondents said it was as compared to 45% just one year later
  • 57% of B2B respondents already have or are planning to implement mobile commerce, while 49% are looking to social commerce
  • Almost 60% of B2C respondents identified the customer experience as a top reason to invest in digital content, including videos, PDF’s and rich images