Retailers, consumers and prices
In a wake-up call to the industry, a new survey shows that customer satisfaction with online retailers declined 3 percent from last year.
The slipping satisfaction level uncovered in ForeSee Results’ Top 100 Online Retail Satisfaction Index is a “remarkable trend,” according to its author.
The report — which surveyed 22,000 respondents to measure customer satisfaction at the top 100 online retailers by sales volume — found that the top performers were outweighed by more bottom performers, with 55 online retailers seeing their scores drop from last year.
“Customer satisfaction, when measured scientifically, is not just a number or a beauty contest. It is a direct precursor of customer behaviors that have a measurable and quantifiable ability to impact sales and profitability,” warned author Larry Freed.
A 1 point increase in customer satisfaction is equivalent to nearly 9 percent growth in online sales, the report found, while a satisfied shopper is 71 percent more likely to buy than a dissatisfied one.
First, the good news: Netflix.com is still No 1, followed by Amazon.com, with the top two companies maintaining their spots for five years in a row. Avon.com came in third.