New survey shows customer experience more important than ever
A major new survey carried out by Medallia and Ipsos in the UK, France, Germany and the USA has shown that the customer experience is now more important than ever. Of the 8002 respondents surveyed, 64% said they have avoided a brand because of a poor experience within the last 12 months. Millennials are even more likely to boycott, with 70% of those aged 23-37 saying they have abandoned a brand after a negative experience.
Even for those without first hand contact, almost half (47%) will avoid a brand that has a negative online reputation – proving again how powerful online reviews are to the modern consumer. Just under half of consumers (40%) will tell friends, family and colleagues of a bad experience with a brand. Again, Generation Z and the Millennials are even more likely to spread the word if dissatisfied. In addition to telling others, the consumer is also most prone to switching to a new brand, stop using that brand or using it less frequently.
On the flip side, 77% of consumers will use brand after a good experience and 59% will try a new brand after reading a positive online review.
To read the survey results in full, visit: https://go.medallia.com/rs/669-VLQ-276/images/Medallia_Ipsos_The_Customer_Experience_Tipping_Point.pdf
Mothercare announces more store closures
Mothercare is the latest high street brand to revise its number of store closures upwards, with the retailer confirming today that it will close ten more stores than previously announced. The additional closures bring the number of outlets being shuttered to 60, with 900 jobs now at risk.
The Mothercare group’s chief executive said that the additional closured were needed to survive the ‘brutal’ retail landscape. Following the store closures which will be completed by June 2019, Mothercare will have 77 stores in total and 19 of those will pay a reduced rent under agreements reached with landlords and creditors. The chain is also seeking investment and says that part of the problem has been due to a lack of modernisation in the last decade. Read the full story here: https://www.independent.co.uk/news/business/news/mothercare-store-closures-10-more-brutal-retail-market-share-price-drop-a8438021.html
High Street sees word first half year in more than a decade
The UK high street is continuing to struggle with the latest figures showing a fifth consecutive drop in sales. The dip means the first six months of 2018 have been the worst in more than a decade for high street retailers. Sales in June were hit by poor weather including flooding. Homeware sales dropped 2.4%, fashion 2.3% and lifestyle sales 0.3%.
Read the full story here: https://www.retailgazette.co.uk/blog/2018/07/high-street-endured-worst-six-months-decade/