Fast, timely fulfillment has become a critical battleground in e-commerce, and the last mile often causes the most significant problems. Twenty-four percent of e-commerce retailers reported that more than 1 in 10 orders fail to deliver on the first attempt, yet the financial impacts of failed delivery can’t be ignored. On average, failed deliveries cost retailers $197,730 per year.
While it’s clear that failed deliveries impact revenue, they also damage brand reputation, customer satisfaction and retention. Considering that nearly 40% of consumers want online orders to arrive in two days, retailers are under tremendous pressure to get last-mile delivery right. While there are many variables in play, accurate address data is critical.