Retail and Customer Experience : News & Best Practices

Top Customer Experience Statistics

id you know that 80% of businesses believe they offer their customer a superior “experience”, but only 8% of their customers agree? You may not be aware that on average consumers are willing to pay 14% more for better customer service, or that 52% of buyers say they trust a business more if they publish a few negative reviews of their product…

A considerable amount of studies, surveys, reports and analyses are written every year on the subject of customer experience and relations. Browsing through them to identify dominant trends can be extremely time-consuming. This is why we have decided to do it for you by grouping together and categorising all of the data that seems relevant to us in the areas of customer feedback, in-store customer experience and customer loyalty.

Here is a short extract:

The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20% – Marketing Metrics

A 2% increase in customer retention has the same effect as decreasing costs by 10%. – Leading on the Edge of Chaos

While most consumers are willing to give a company at least one more chance after receiving poor service before they consider switching, over one-third (37%) immediately consider switching after the initial poor customer service experience – American Express

33% of consumers would recommend a brand that provides a quick but ineffective response. – Nielsen-McKinsey