15 Key Retail Customer Experience Statistics and How to Offer Exceptional Customer Experience

Customer experience and customer service have become top business priorities in 2019. Today, customers’ perceptions of a business are no longer tied only to brands and suggested prices, but are rather related to their general experience with the brand.

Definition of the customer experience

Customer experience is used to describe a customer’s relationship with a company. The experience refers to all the interactions that the client has with this company. A positive customer experience makes your customers happy and wanting to come back for more. Excellent customer experience creates customers who are willing to refer your business to their friends and family. Here are some revealing statistics on the need to offer an excellent customer experience

Excellent customer experience can be very beneficial when put at the forefront by the company. However, neglecting this element can be rather damaging to the reputation of the company and for sales.

15 Statistics Demonstrating the Importance of Customer Experience

61% of consumers have switched to doing business with a competitor following a poor customer experience.

123formbuilder

A 5% increase in customer retention can produce 25% more profit.

Bain & Company

When it comes to making a purchase, 64% of people find customer experience more important than price.

Gartner

Customer service stats show that acquiring new customers costs anywhere between 5 and 25 times more than retaining existing customers.

Harvard Business Review

66% of 18-34 year-olds say their customer service expectations have risen in the last year.

Microsoft

95% share bad experiences and 87% share good experiences with others.

Zendesk

54% shared bad experiences with more than five people.

Zendesk

42% of Americans will stop shopping with a brand after just two bad experiences.

Vision Critical

52% of consumers say they have made an additional purchase from a company after a positive customer service experience.

Dimensional Research

64% of customers want to shop with companies which can meet their needs in real-time.

Salesforce

Only 1 in 26 customers will tell a business about their negative experience; the rest simply leave according to customer service facts.

Esteban Kolsky

90% of customers are influenced by positive reviews when buying a product.

Dimensional Research

27% of Americans rate their number one frustration with customer service as “lack of effectiveness.”

Statista

69% attributed their good customer service experience to quick resolution of their problem.

Dimensional Research

When it comes to business, nothing matters if you offer bad customer service. Keep these statistics in mind to understand why you need to focus on customer service and make sure you offer the best customer service possible to enjoy positive results.

Advice on How to Offer Exceptional Customer Experience

Adequate Training

To ensure that your company serves customers well, provide training time to your new and existing employees specifically for customer service. That way, you’ll be sure they’ll know how to work with customers to deliver the best experience possible.

NPS Score

The Net Promoter Score is an index between 0 and 10 that measures the willingness of customers to recommend a company’s products or services to third parties. It is used to assess a customer’s overall satisfaction with a company’s product or service and customer loyalty to the brand. It is an alternative to traditional customer satisfaction research and it often correlates with revenue growth.

Online vs In-Store

For physical stores, the customer experience seems, at first sight, much more complex than on the web since people usually physically go to a shop expecting to receive very good service. The service, the availability of products, the layout of the products in the store as well as the general customer experience must be flawless. However, for the online business, other challenges are emerging. The product categorization, the user-friendliness of the various web pages and the navigation on the site are three new constraints to respect to ensure the satisfaction of the customers. The customer experience is just as important in-store as online.

Flexible Inventory

In addition, one of the components of the customer experience is the availability of products. Keep your inventory up to date and ensure the availability of your products at all times. The customer who does not find the product they want will not wait indefinitely. The latter will go to your competitor without asking any questions.

Do not lose sales! Alice POS is there to prevent this lack of inventory by warning you when a product needs to be ordered. Alice POS also allows you to synchronize your physical inventory with your web inventory, saving you time and helping you provide a better customer experience.

Quotes:

1. “Your most unhappy customers are your greatest source of learning.” — Bill Gates  Oxford reference
2. “Customer service should not be a department. It should be the entire company.” — Tony Hsieh Utama