Consumer Study Shows ‘Experience’ Matters
By Staff -- Gifts and Dec, 8/4/2009 10:52:00 AM
New York — A Customer Experience consumer study recently conducted by Strativity Group, a customer experience research and consulting organization, confirms something that many independent specialty gift retailers have long known — consumers are not solely price-centric when it comes to shopping; their experience as a customer does matter and they are willing to pay more and be loyal to those businesses that provide them with exceptional service.
“In contrast to the popular perception that consumers focus on price only, our study demonstrates that consumers are paying attention to customer experience they receive and are willing to reward exceptional experiences with larger purchases, longer relationships and premium price." offered Strativity CEO Lior Arussy.
Among the key findings:
• More than 70 percent of consumers surveyed indicated that they are willing to spend 10 percent or more with businesses if those businesses exceed their expectations
• Loyal customers are almost three times as likely to expect to continue doing business with companies for another ten years or more than dissatisfied customers.
• Some 40 percent of loyal customers said that they are willing to pay 10 percent or more to continue purchasing from companies delivering great experiences, in contrast with 9 percent of dissatisfied customers.
The survey also revealed that consumers expect companies to provide quick and effective issue resolution when things go wrong and employees who exceed their expectations.
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