News

Research: Most consumers will pay more for a good experience

August 9, 2009

Research firm Strativity Group has released the findings of its "2009 Customer Experience Consumer Study."

The study surveyed nearly 2,000 consumers in North America, using a web-based questionnaire to determine their current attitudes, habits and opinions on their shopping experiences.

"In contrast to the popular perception that consumers focus on price only, our study demonstrate(s) that consumers are paying attention to customer experience(s) they receive and are willing to reward exceptional experiences with larger purchases, longer relationships and premium price," said Strativity CEO Lior Arussy in a press release.

Selected findings from the survey include:

• More than 70 percent of shoppers said they are willing to spend 10 percent or more with companies that exceed their expectations.
• Dissatisfied customers are ten times more likely to abandon a retailer in the coming year than their loyal counterparts.
• More than half of dissatisfied customers said they expect discounts of five percent or more in order to continue doing business, while loyal customers expect no discounts.