Loqate are part of the enormously successful GBG group. They do interesting things with data which means that they can provide genuine insight into eCommerce. Alex Bryan, Customer Success Manager for Loqate will prep you for 2024

1. Ecommerce
Trends & Strategic
Planning for 2024

2. Helping every business in the
world, reach every customer
in the world

3. Data Quality
Data inputs Data outputs
eComm
ePOS
(retail)
CRMs
Other
Any
system
Any
language
Any
format

4. Agenda
Importance of Quality Data
Localisation & Personalisation
Digital Wallets
Fraud

5. Anonymous consumer £££ per year
First & Last Name +2.3x
+ Email Address +2.5x
+ Postal Address +3.1x
+ Phone Number +3.5x
+ Birthday +5.6x
5
The Value of Consumer
Data

6. 6
1-10-100 rule
Cost of
prevention
Cost of
correction
Cost of
failure
£1
£10
£100
Data Quality
• On average customer data degrades
by 15-20% each year & over 30% for
business data
• On average, companies lose $8.2M
annually due to poor data quality
• 78% of consumers expect the retailer
to resolve data quality issue
• Top tip: Validate customer data in real
time to save time & costs it would take
to correct later

7. Addresses can be:
very long or very short
contain punctuation
change names
be in multiple languages
get caught in obscenity filters
contain punctuation

8. C/Conde de Xiquena 7, 3º, 1A Izda, 280280, Madrid
• C/ (calle): street
• Esc. (escalier): stairwell
• Izda. (izquierda): left
• Dcha. (derecha): right
• º symbol (piso): floor
8
Localisation &
Personalisation

9. • Cross-Border eCommerce worth $3.3
trillion by 2028 (currently $1.6 trillion)
• Personalised to location
• Enrich with geolocation data
9
Localisation &
Personalisation
Local Knowledge + Data
= Location Confidence

10. • Maximise screen real estate
• Fewer visible fields = better conversion
• Offer option for manual entry
10
Single Line & Hide
Fields
• Show fields once populated
• Validation on email + phone

11. • Verify will catch the 20%
• “Belt & Braces” approach
• Some countries might lead with Verify
11
Verify

12. • For international the label works well
• Allows for local idiosyncrasies
• Raw formatting is retained for backend
12
Address Label

13. • Digital wallet users expected to see 53%
growth by 2026
• Digital wallets account for 49% of global
ecommerce sales
• Top tip: Use address verification tool to
decrease risk of bad data
13
Digital Wallets
GROWTH
53%

14. 14
Fraud
• Global ecommerce fraud is predicted to
exceed $48 billion in 2023
• North America accounts for over 42% of
ecommerce fraud globally
• Top tip: Combat fraud by removing data
silos. Validate customer data early in the
process without creating barriers.
FRAUD
LOSSES
$48
BILLION