POOR CUSTOMER EXPERIENCES RISK BILLIONS IN RETAIL LOSSES
Did you know more than 8 in 10 shoppers keep their customer experience (CX) issues hidden from retailers? This was one of the many findings and deep insights from the 2015 CX Risk Study, conducted by LoyaltyOne Consulting in partnership with the Verde Group, and with professor of Marketing and Psychology, Dr. Deborah Small, at the Wharton School of the University of Pennsylvania.
To the retailer, these silent customers appear to be problem free, when in reality, the issues remain in the minds of the customers. Our end-to-end solution uses CX impact modeling to identify the specific experiences most damaging to customer loyalty behaviors and prioritizes them according to impact on revenue and market share. It’s interesting to note that the most frequently mentioned issues are typically not the issues that are suppressing spending and market share.
This white paper covers financial ramifications, frequent issues for different retail formats, impact measurement over simple frequencies, and provides valuable takeaways for retailers. Learn how you can assess and resolve your most critical CX issues that are putting your customer loyalty at risk.
Download the full paper to learn more.