News

Consumers love exceptional service, will jump ship for it

June 25, 2019

Two-thirds of consumers will jump ship to another brand if that brand is providing the best experience.

That's the finding of a large-scale study from Verint Systems Inc. conducted by Opinium Research, LLC. The report surveyed 34,000 consumers worldwide

"The finding that consumers are easily swayed to switch to product and service providers that offer a super customer experience demonstrates the harsh reality of today's business and loyalty landscape," said Ryan Hollenbeck, senior vice president of global marketing and executive sponsor of the Verint Customer Experience Program, in a press release on the findings.

Loyalty and customer retention continue to decline globally, with 44% of consumers stating they have been with service providers for three years or more — down 39% since 2015. More than three-quarters (77%) of consumers said convenience is a major factor when choosing a brand or service provider.

In addition, the report revealed 60% of consumers expect to engage with an organization via any channel at any time.