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Customer Experience Surpasses Brand, Price

PYMNTS

This is the year that customer experience surpasses brand and price as the most important factor in retail. That’s just one of the conclusions drawn in the latest American Customer Satisfaction Index (ACSI) out of U Michigan’s Kellogg School, which focuses on retail. Supermarkets ruled this survey.

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Customer Experience – How Service Focused Banks Measure Their Performance

South State Correspondent

It is no surprise that these banks not only have higher customer experience performance but have a higher return on equity numbers. A better customer experience means less churn, a longer account life, more repurchases, more cross-sell, lower operating cost, greater trust, and more forgiveness.

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The Customer Experience: 14 Ways To Better Understand Your Bank Customer

South State Correspondent

The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.

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The Customer Experience: 14 Ways To Better Understand Your Bank Customer

South State Correspondent

The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.

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Return Season Hits Hard; Some Retailers See Bright Side Of Customer Experience

PYMNTS

In fact, forward-thinking retailers are looking at the return process as a chance to create a positive customer experience. According to Optoro Co-Founder and President Adam Vitarello , this is the year returns as part of the customer experience comes to fruition. Now that number tops 50 percent.

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Luxury Brands Hit The Discount Racks

PYMNTS

While many luxury retailers have found themselves needing to slash prices to keep inventory moving, some luxury brands are switching manufacturing to assist in the coronavirus crisis. Luxury shoppers have high standards for the level of customer service they will accept. The luxury business is going the distance for COVID-19.

Branding 146
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Shake Shack On Tapping AI And Other Tools To Optimize The Customer Experience

PYMNTS

It's no secret that restaurants have been hurting since the pandemic caused a seismic, almost-overnight shift in their customer engagement strategies. The QSR began as a hot dog stand in New York City’s Madison Square Park in 2001 and has since grown to become a global brand, with more than 250 locations around the world. .