Digitalization has spawned a golden age of consumer sovereignty: consumers wield tremendous power because they’re better informed and have more choice. And eCommerce has facilitated innovative new ways of engaging consumers and introduced new avenues of growth for businesses – but this has sometimes come at a cost to brand owners who can struggle to retain their customers when a digital experience goes awry. Facing this digital age, one wonders: what happens to brand loyalty when consumers are one click away from switching sides?
With criminal activity through security breaches and fraud being top of mind, consumers look to businesses they can trust and appreciate added levels of security through authentication methods. It is important that organizations balance convenience and security without any compromises.