2020 Global Insights Report – Wave 2
As the world faces another resurgence of the coronavirus, businesses will again be tested on their response — but this time consumer expectations will be much higher. In the beginning of the pandemic, businesses scrambled to set up remote workforces and wholly new ways to support customers as everything locked down.
In mid-September 2020, we surveyed 3,000 consumers and 900 businesses in 10 countries, including: Australia, Brazil, France, Germany, India, Japan, Singapore, Spain, the United Kingdom and the United States. This report is the second of three in a longitudinal study exploring the major shifts in consumer behaviour and business strategy pre- and post-COVID-19.
Most consumers reported a positive experience in their sudden shift to the digital channel and plan to increase their online transactions. The pandemic has also accelerated the move toward contactless payments for when shopping in-person is essential. The result has been a merging of consumers’ online and offline worlds calling upon businesses to create a fluidity between cross-channel interactions.
Regardless of where they’re transacting, consumers expect a secure, convenient experience —and they’ll quickly abandon transactions if they’re let down.
Are businesses adapting the customer journey as quickly as customers are expecting more from their digital experience? Should businesses adopt a ‘new normal’ for business continuity or modernise for future growth?
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By Experian 10/19/2020