Stats & Facts

It wasn’t too long ago that most retail businesses believed that the key to winning customers was offering quality products and/or services. But things are changing. A study by Walker Information, an experience management (XM) firm based in Indianapolis, Ind., reveals that a great customer experience (CX) is becoming the most important factor in earning shoppers’ loyalty to a business, and based on its research, Walker expects CX to overtake price and product as the key brand differentiator for consumers by the end of 2020.

“Research shows that customer experience is the greatest business opportunity for all companies in 2020 – and it should become a top priority.”

“Consumers no longer base their loyalty to a business on price or product,” writes Toma Kulbyté in a blog post on SuperOffice.com. “Instead, they stay loyal to companies because of the experience they receive. If you can-not keep up with their increasing demands, your customers will leave you.”

Give customers a great experience, and they’ll buy more, be more loyal and share their experience with friends. These statistics show how crucial providing a unique and unmatched CX is for businesses today.

of shoppers will pay more for products/services if they receive a great customer experience – between 13% and 18% more.
Source: Qualtrics XM Institute (qualtrics.com/xm-institute), which evaluated feedback from 10,000 U.S. consumers describing both their experiences with and their loyalty to different companies

Investing in customer experience initiatives has the potential to double a company’s revenues within 36 months.
Source: Qualtrics XM Institute (qualtrics.com/xm-institute)

of U.S. consumers say they’d share more personal data/information with a company that offers a great experience.
Source: PwC (pwc.com), which surveyed 15,000 people from 12 countries, 4,000 of which were from the U.S.

that make for a truly great customer experience
• Efficiency and speed
• Convenience
• Friendly service
• Knowledgeable service
Add to those “human touch” – that is, creating real connections by making technology feel more human and giving employees what they need to create better customer experiences. People are increasingly loyal to the retailers, products, brands and devices that consistently provide exceptional value with minimum friction or stress. The challenge is using new technology, with purpose, to make the experience feel more human – without creating frustrations for customers and while empowering employees
Source: PwC (pwc.com), which surveyed 15,000 people from 12 countries, 4,000 of which were from the U.S.

A great mobile customer experience must be a priority of all companies because 52% of all internet traffic now comes from mobile, with desktop usage on decline.
• 57% of consumers say they won’t recommend a business that has a poorly designed website for mobile devices.
• 55% of consumers say that a poor experience on a mobile website damages their overall opinion of a brand or company.
• 52% of consumers say that a poor experience on a mobile website will make them less likely to engage with a company.
• 50% of consumers say they will stop visiting a poorly designed mobile website, even if they like the business.
Sources: SWEOR, LLC (sweor.com); DesignAdvisor (designadvisor.net); and StatCounter (statcounter.com)