Execs In The Know is proud to announce the release of Experience & Loyalty Insights: A Research-Based Review — Retail & eCommerce. This research is released in partnership with Conduent.
This new 70+ page report focuses on a specific vertical (Retail/eCommerce) and includes comparisons between consumer and corporate practitioners, as well as comparisons against past research from Execs In The Know and Conduent to uncover insights across all industries.
By comparing the Retail/eCommerce vertical with other industries, several differences emerge. The standout characteristics for Retail/eCommerce brands include channel diversity, the proactive approach to economic uncertainty, and CX leaders’ satisfaction with their tech stacks.
Generally, consumers are pleased with the customer care they are receiving from Retail/eCommerce brands, but they still seek faster, simpler transactions, more consistency across channels, and easier access to live support.
A few key insights from this latest research:
- Regardless of loyalty status, most consumers feel the key to an exceptional customer experience is to “Provide Consistent, High-Quality Experiences at Every Touchpoint”
- On a five-point scale, 42% of consumers said Retail/eCommerce brands are providing “Better” or “Much Better” customer care compared to that of three years ago (pre-pandemic)
- “Managing Cost, Including Rising Operational Costs” is expected to be the biggest CX challenge among most (56%) Retail/eCommerce brands in the coming 12 months
- Sixty-nine percent of Retail/eCommerce brands have seen improvement in their critical program KPIs over the past 12 months
“This report opens an exciting and new avenue of research for our community,” said Susan McDaniel, Co-Founder and Chief Operating Officer of Execs In The Know.
“Loyalty is an important topic, not just for our friends in the Retail/eCommerce vertical, but across industries. Many of the findings contained in this report translate well on a cross-industry basis, providing a clear picture of what loyalty means to consumers, and how brands can cultivate more loyal customers.”
“This unique research by Execs In The Know and Conduent provides CX leaders with the types of findings and insights to help them shape strategies and focus CX investments,” said Ryan Collins, Vice President and General Manager Customer Experience Management Solutions at Conduent.
“A key takeaway from the research is that the fundamentals of customer service must be solid. Emerging technologies and communications channels are only beneficial and further enhance customer experience if they are implemented strategically and complement the work of agents.
“They must remain focused on people, processes, training and creating exceptional experiences for customers and then integrate new solutions to meet changing expectations.”