Based on a survey by Rogerwilco, of 2 000 customers and 50 business leaders, the report indicates a growing disappointment towards brands that fail to meet customer expectations. Read more here 👇
Stewart says although consumer expectations have declined, brands are equally responsible.
CX consultant Julia Ahlfeldt says it’s baffling to understand why brands continue to prioritise new business when there are “relatively simple” fixes to improve retention.“If the profit opportunity is so large among existing customers, why are businesses chasing new revenue over retaining long-term customers?” Ahlfeldt asks.
“If Jeff Bezos can do it with Amazon, and create a global mega-brand, why can’t our local brands follow suit?”Speaking up onlineThe report shows that reviews are among the most commonly performed actions online, with 67% of consumers expressing their opinions and complaints through online platforms. According to the report, online product research – which includes reviews, recommendations and browsing – impacts purchase decisions to the value of R516 billion, within the R2 trillion retail sector.
“This creates a false belief among consumers as they’re giving away data, but getting little in return,” she says.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa Fights to Keep AGOA Benefits - South African News Briefs - July 13, 2023
Read more »
South African city records worst air pollution in the world todayBloomberg’s DataDash reports that a South African city recorded the worst air quality in the world on Wednesday morning.
Read more »
Two South African Engineers Imprisoned In Equatorial Guinea Are...The two South African engineers - Frederic Potgieter (53) from George and Peter Huxham (55) from Langebaan - are still imprisoned in Equatorial Guinea and are trying to appeal their drug smuggling conviction.
Read more »
South African rand firms as dollar dips on modest inflation dataThe South African rand extended gains against the dollar on Wednesday after inflation in the U.S. slowed in June, boosting hopes interest rates might not be hiked several times this year.
Read more »
Torching of Trucks 'Economic Sabotage' - South African MinisterTransport Minister Sindisiwe Chikunga has said she was gravely concerned about the torching of trucks on South African roads, describing the incidents as an "act of economic sabotage". This comes after trucks ferrying goods were set alight recently in the provinces of KwaZulu-Natal, Mpumalanga and Limpopo. According to reports, this brings 20 trucks in total that have been burned down. "This is criminality that will not be tolerated. These criminals are committing an act of economic sabotage, which must attract the harshest penalties permissible in law," said Chikunga. The violence mirrors that of attacks in 2020 which saw President Cyril Ramaphosa condemn the acts of arson and their disruption to the nation's economy.
Read more »