News

What global consumers really, really want

June 20, 2019

Customers want a personalized and convenient consumer experience, according to a Verizon study conducted by Longitude that examined what consumers really want when it comes to brand interaction.

Today's shoppers want an efficient experience that mirrors how they communicate, supported by emerging technology.

Here's a quick look at top findings:

• 35% of customers would leave a company with slow apps (compared to 44% of 18- to 24-year-old customers); 59% of consumers say they often abandon online transactions that take too long.
• 41% of consumers say they would leave a company that can't meet their request at the first time of asking.
• 47% of consumers would go back to a company offering a personalized, intuitive CX, even if a rival was cheaper; 37% are more likely to sign up to a new company if they can use an existing online profile to do so.
• 55% of 18- to 24-year-old customers say they are attracted to companies that deliver CX using the latest digital technologies, compared to 47% of all consumers.
• 42% of consumers are open to companies finding new ways of communicating with them, such as via wearable devices or voice-activated personal assistants. And while younger consumers are more open to technologies, such as wearables, older people do not rule them out.
• Some 45% of 18- to 24-year-old consumers say they would be prepared to share their data if they get a more intuitive and personalized user experience as a result.
• 69% say "honesty and transparency" about how personal data will be used are crucial qualities for companies wanting to win trust with customers. A further 42% stress the need to communicate clearly that they comply with data regulation.
• 62% of consumers say they rarely save their banking details when dealing with a company online in order to speed up their return visit. In this context, there may also be a reward for companies able to offer trusted, rapid, intuitive security processes—63% complain that managing passwords is increasingly complex.
• 69% of consumers would avoid a company that has suffered a data breach, even if it offers a better deal than competitors; 39% would turn to a competitor if a company did not adhere to their data and privacy settings and preferences.
• The Americas region is the least forgiving when it comes to breaches – more than a third in total would simply stop working with a company if they were impacted by a breach it suffered. And there is extreme regional variation – Brazil and Mexico have the harshest view on this of all the countries surveyed globally.