Lawyer Monthly Magazine - August 2019 Edition

12 WWW.LAWYER-MONTHLY.COM | AUG 2019 Monthly Roundup news Consumer confidence remains flat in Q2 amid continued economic un- certainty, according to the Deloitte Consumer Tracker Survey. It has been revealed that the UK consumer confidence index is -8 per cent; down four per cent from this time last year. Customer experience expecta- tions, however, show no signs of slowing, with over half of UK consum- ers feeling more loyal to- wards brands that show a deeper understanding of their preferences and priorities [1] . This means that now more than ever, busi- nesses will be focussing on providing a seamless digi- tal customer experience, [1] https://www.smartinsights.com/customer-engagement/customer-engagement-strategy/customer-experience-research-statistics/ [2] https://www.walkerinfo.com/Portals/0/Documents/Knowledge%20Center/Featured%20Reports/WALKER-Customers2020.pdf [3] https://www.gartner.com/smarterwithgartner/unveiling-the-new-and-improved-customer-effort-score/ High profile events and online sales are notorious for counterfeits. With the Women’s Football World Cup recently concluded, Amazon’s marketplaces were inundated with fake versions of the USA’s official tournament jerseys. Wired has reported that, on the day after the final, at least six of the top 10 best-selling women’s jerseys on Ama- zon were Team USA knock- offs. Amazon Prime Day itself re- portedly sees a huge influx in fake reviews every year, being a popular tool for But consumer watchdog Which? echoes Fakespot’s broader findings, stating that ‘unknown’ brands dominate the search re- sults for tech such as head- phones using unverified reviews. They also indicate that many products fea- ture reviews for completely different items, suggesting they have been ported over from previous product listings. The problem for Amazon is that it may soon be directly liable for facilitating the sale of counterfeits on its platform. The high-profile optimising customer en- gagement. While technologies like AI and automation will be critical for businesses to remain competitive in these times of such low consumer confidence, it is important not to overlook the importance of in-per- son human interaction. Retailers with omnichan- nel strategies retain an average of 89 per cent of their customers, accord- ing to Teleperformance DIBS, and any businesses failing to focus directly on customer experience will struggle with customer retention. Rajnish Sharma, Retail SME and UK Market Lead- counterfeiters to add a sem- blance of authenticity to their listed products. In July 2018, it was found that fake reviews made up 28% of all reviews on the site, having increased from 16% in the previous month. This figure is already reported to have reached 34% of all reviews in June 2019 and is only likely to increase further. It is worth noting that Am- azon refutes Fakespot’s data, stating that the com- pany does not have vis- ibility of backend informa- tion on reviewer, seller and product history. court case of Oberdorf v Amazon in 2015 attempt- ed to discern whether the ecommerce giant could be held liable for facilitat- ing the sale of counterfeit dog leashes that caused injuries to consumers. The original decision in favour of Amazon was re- versed on appeal, but now Amazon has been found li- able for the injuries caused by the defective leashes, with wide-reaching ramifi- cations for how the US firm approaches infringement on its marketplaces. Project Zero is one such brand protection initiative and was introduced by Amazon earlier this year to supplement their existing Brand Registry and Brand Transparency programs. It is a step in the right direc- tion, allowing brands to have greater control of the enforcement process and accelerate the removal of counterfeits, but it is only available by invitation to companies that have both already enrolled in Brand Registry and are owners of a registered trademark. er, at Teleperformance Digital Integrated Busi- ness Services, comments: “With people so worried about their personal fi- nances in the increasing economic uncertainty, it will take a lot more than just a good product or service to persuade the average consumer to hand over their cash. Consumers are looking for frictionless, hassle-free and personalised cus- tomer experiences. In fact, in the next year, the customer experience will be more important than product and price. [2] To remain competitive in these times of economic uncertainty, businesses need to be available to Consumer Confidence Remains Low as Companies Look to Provide a Human Touch Amazon Prime Day: Counterfeiters Look to Take Advantage of Bargain-Hunting Consumers TECHNOLOGY LAW FRAUD provide round-the-clock, real-time service – at the consumer’s convenience. While AI bots are widely being introduced to im- prove engagement and streamline communica- tion, it’s important to note that human interactions are not just cognitive, but social and emotional.” Rajnish continues: “Re- gardless of whether the consumer is interacting with a brand from behind a screen, over the phone or in-person, they want their issue or query solved as quickly as possible. 96 per cent of customers who have to expend a high level of effort to get their issues resolved be- come more disloyal, com- pared to just 9 per cent who have a low-effort experience, according to Gartner. [3] ” “AI-powered chatbots act as an enabler for customer service teams and companies need to ensure they do not underestimate the emo- tional intelligence which only comes from hu- man agents. While con- fidence in the economy remains low and the rate of spending growth slows down, it’s the businesses that recognise the human nuance that will be the ones that stay afloat in the UK’s extremely com- petitive marketplace.”