A retailer's ability to keep consumer's happy is what gives it the edge in today's volatile economy. The "Spring 2008 Top 100 Online Retail Satisfaction Index," an annual report, finds an overall improvement among the top retailers.
Four major components drive satisfaction: price, merchandise, availability of products, and brand. Price is thought by some to be a factor, in a down economy.
Netflix continues to be rated as the top online retailer based on customer satisfaction. The online film rental service recently addressed recent delivery issues before most customers were even aware of the problem, which gained the company good favor.
Investment in customer satisfaction goes a long way, especially in a tough economy, said Freed. "Satisfaction matters and it's what's going to drive financial success. A dissatisfied consumer becomes a liability. Not only are they not going to purchase from you again, they may go out there and say bad things about you. Focusing on satisfying a customer is going to pay off for retailers."
Wednesday, 21 May 2008
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