Across the whole of cyber week (23rd – 30th November) there were 207 million validation requests, a 50% increase in volume in just two years (There were 206.8 million requests in 2021 versus 136.1 million in 2019). As these digital sales periods grow in popularity, vendors are looking at ways to digitise their processes at scale.
Similarly, validation requests for the Boxing Day sales have doubled over the same period as consumers move their purchases to being delivered. An accelerating trend that has been heavily influenced by the pandemic.
What is a customer data validation request?
During an online purchase of goods, customers must enter multiple details, including personal, geographic and financial information to complete their purchase. Data validation technology helps eCommerce vendors to accelerate this process and make it easier (therefore avoiding basket abandonment) by providing some of the necessary information for the consumer.
It works by using authoritative reference data to digitally “look up” the customer’s information, such as an address, for example. The customer begins to enter their address, after just a few keystrokes Address options are suggested. Their full address is then populated automatically for them without any further keystrokes.
The data is referenced from leading location data sets such as Australia Post’s PAF file or New Zealand Post’s address file, so guarantees high levels of accuracy and an easier process for the customer.
Why has the popularity of customer data validation increased with eCommerce vendors?
Two reasons. The first is technological. As consumers move more of their purchasing habits online, eCommerce vendors need to scale their technological infrastructure in order to cope with the increased demand. By digitising elements of the purchasing journey they make it faster and the improved accuracy requires less human intervention when things go wrong. Saving them money.
The second reason is to improve the customer experience. Consumers expect seamless purchasing processes and when this doesn’t happen they can become frustrated, potentially abandoning their purchase altogether. By utilising data validation technology, the eCommerce vendor ensures the process is as easy as possible while improving accuracy, as we have already mentioned. A win-win situation for consumer and vendor.
Trusted reference data, expertly delivered
Experian has a wealth of customer data validation solutions that help improve the customer purchasing process and ensure less money is wasted on things like lost shipments.
To take a look at our tools and services then head to customer data validation hub for more information.