Home GeneralLearning More About Online Insurance Firms

Learning More About Online Insurance Firms

Most online retailers are not doing well; they are only producing tiny amounts of trade compared with the giants of online shopping. With the majority of people shopping at a few online retailers, it is clear that these are highly trusted companies. Far too many online retailers are just trying to “cash in” on the web wave without actually putting proper business systems in place – leading to lowered levels of trust. If they are to survive, online retailers are facing dramatic changes, and they need to respond quickly. That’s the conclusion you can draw from research showing just how much shoppers are in control. The study from the consultancy firm PwC should be a wake-up call to online retailers as it reveals some stark messages.

46% of the 15,000 people in the study only shop at one online retailer. With Amazon, for instance, raking in around $1bn ever four to five days it dwarfs retailers like the world’s biggest online fashion store, Asos, which managed to produce an income of around $1bn but only in 12 months. You dice and slice the data; most online retailers are not doing well; they are only producing tiny amounts of trade compared with the giants of online shopping. We need to ask ourselves why this situation exists. The standard mantra of “online success” is that if you create a niche, a tiny slot at that, people will flock to you. The data suggest the opposite – that people are gathering at the generalists, like Amazon. With the majority of people shopping at a few online retailers, it is clear that these are highly trusted companies. One reason other online retailers may not be doing so well is that they have not demonstrated enough trust.

The Need For Reliable Online Insurance Services

Trust is established when a company delivers the right insurance product at the right price to the right person in the right way. Many online insurance firms fail at several of these hurdles. Far too many online retailers are just trying to “cash in” on the web wave without actually putting proper business systems in place – leading to lowered levels of trust. Large insurance companies, for instance, are acknowledged experts in online retail. Their shopping experience has inspired many other online retailers to offer similar insurance packages. You cannot move on the web for articles about creating a store like Amazon, and the company even produces systems, like Amazon Web Services, which other retailers rely on. Shoppers said that they expected retailers to have a compelling story to tell. In other words, they don’t just want an online insurance store – they want to shop at insurance firms who know a lot and spread their knowledge widely.

 

Please follow and like us:
error