Going forward, we would expect to see satisfaction trend back upward now that the holiday rush is over.

During this critical stage in the holiday shopping season, online retailers face huge challenges to maintaining high satisfaction. Those who aren't able to meet customer expectations online during the last week or two of the holiday shopping season risk the long-term impact of lessened customer loyalty during the weeks and quarters to come.

The downward trend is due to consumers' increased expectations during the holiday season, a much larger influx of infrequent visitors that may not know how to navigate a site and shipping costs, and the unavailability of prominent items like the Xbox 360 due to low inventory.

Keeping shoppers happy while they are on the site is just one piece of the satisfaction equation. A bad experience with fulfillment or customer service could outweigh a positive experience on the site.

We saw the same trends in lowered satisfaction and key behaviors tied to loyalty last year. However, last year's drops were far more significant. This year, online retailers did a better job managing customer expectations as the holiday shopping deadlines approached. In return, retailers will be rewarded with higher loyalty long after the holiday season comes to a close.

The days leading up to the holiday pose a huge challenge for online retailers, who haven't yet figured out how to maintain high customer satisfaction during this critical juncture.