Developing E-Commerce Customer Satisfaction, Trust, and Loyalty in the Essay

Developing E-Commerce Customer Satisfaction, Trust, and Loyalty in the UK Market - Essay Example The population of internet users worldwide was about 934 million is 2004 and it experienced a steady growth of about 14% by the end of 2005 (Karim, 2013; Lodorfos, Trosterud and Whitworth, 2006). Internet access is no more limited to surfing, gaming, media downloading and uploading and social networking but with widespread internet usage, the volume of online shopping and amount of money spent on e-shopping continues to increases in a steady manner as confidence of consumers in online shopping has stabilised. Consequently, the global e-commerce revenue from internet shopping was observed to be around  £91 billion in the United Kingdom in 2013 (Capgemini, 2014; Digital Strategy consulting, 2014). According to reports, the growth rate in mature markets is gradually declining and retailers are seeking unconventional opportunities so as to meet their growth targets. Retailers presently considering e-commerce an unconventional growth engine through which they can access the global market while a few continue to focus on establishment of greater number of physical stores (Lodorfos, Trosterud and Whitworth, 2006). The paper aims at establishing consumer relationship in terms of trust, loyalty and satisfaction with respect to ecommerce. Therefore, it is important to understand importance of consumer satisfaction, trust and loyalty from marketing perspective. In the following section of the paper, current developments in ecommerce have been discussed. Alongside, consumer satisfaction and loyalty have been assessed in an elaborate manner. The literature review covers various theoretical approaches to consumer satisfaction, trust and loyalty as well as impact of the same on ecommerce industry of the UK has been discussed based on recent surveys and reports conducted by organisations such as Mintel and Deloitte. For ensuring high quality in the literature review, various peer reviewed journals and reports from authentic