Numerous reports in the media are leading on the assumption that, considering the unfavourable economic situation, consumers are driven by low prices while shopping. However, a recent survey I read from software company Sage UK reveals that quality service is just as important.
Figures show that nearly half of the 2,000 people who participated in the poll rated the overall shopping experience provided by brand holders as very important. However, just one in five consumers think that brands are trying harder to please customers and attract new ones, compared to the time before the recession. In fact, almost a quarter of those polled agree that the companies have been putting less effort into customer satisfaction.
The researchers warn businesses that competition has been growing constantly in the current economic situation and not catering for consumers might cause them to turn to rival brands instead; results from the survey demonstrate that one-third of consumers would do so, if a company fails to meet their expectations for good service even once. Londoners seem to be the most tolerant customers, as 75% of them say they would give such a company a second chance to perform well, whereas this figure drops to 64% for East Anglia residents.
In terms of age, young customers from 18 to 25 years of age, are far more tolerant than the 55+ age group. The consumers willing to give companies a second chance for the two groups stood at 75% and 41% respectively.