Data quality is becoming increasingly important for businesses that want to remain competitive in the digital economy, as more traditional retailers move online, marketplace heavyweights like Amazon and Alibaba offer lower prices and new incentives, and technology makes the process smoother, and more personalized. It’s getting harder and harder to win digital consumers over, and in order to keep up, companies are relying on data more than ever before. Unfortunately, if collected and managed poorly, data can have detrimental consequences on finances, operations, and brand reputation.
One of the biggest issues caused by poor data quality is failed deliveries. In fact, 1 in every 20 online orders takes more than one attempt to get to the correct recipient, leading to consumer frustration, and subsequently leading to a negative view of the retailer’s brand as well as redelivery costs.
Did you know that over half of retailers refund shipping charges after a failed shipment? Another 54% of retailers pay extra costs for redelivery and 38% even offer discounts to shoppers who have not received their shipment after the first attempt.
To get a better understanding of the business impact of data quality, we’ve partnered with independent research consultancy, Loudhouse to study how data quality affects retailers and customers alike. We spoke to over 300 retailers and more than 2,000 consumers from the US, the UK and Germany, to understand why failed deliveries happen, who’s responsible, and the consequences it has on future sales.
So if you’re interested in discovering more about the real cost of failed shipments, download the report today.