Trust is essential for trade. Whether B2C, B2B, or C2C, trust for both parties is necessary for a successful exchange.
In preparation for the launch of Safe.Shop, the Global Ecommerce Trust Mark, our Research Coordinator, Sara Lone dived into scientific literature to find the missing link between consumer trust in webshops and its relationship to online sales. Suffice it to say: she found it.
More Trust = More Sales
Although gut instinct already told us so, the data confirms that there is a strong correlation between consumer trust of a webshop and their decision to purchase. Countless studies cited in the paper confirm consumer trust as one of the main influencers of purchasing intention.
Purchasing online comes with higher risks for consumers, that much is obvious. In brick-and-mortar shops, customers can see everything, including the seller, and take a product home immediately when they buy it. But online purchases actually require consumers to trust that a webshop is honest – this means being transparent with the products/services they claim to sell, but also in their capabilities to deliver what consumers purchased. Consumers aren’t just worried about the products, though. More and more, consumers are worried about their data and personal information, and that makes life even more difficult for webshops.
Perception is Everything
None of us stay on a website for very long, and certainly not if it looks ambiguous or untrusthworthy. A 10-second glance and visitors have seen all they need to see if a website is secure or not. In such a skeptical market, SMEs need to know how to actually impact consumer trust in a positive way. The paper Why trust is Important for Webshops explains a study showing that consumer trust is surprisingly gained not by actually being secure, but by being perceived as secure.Download paper