Experience Creates More Loyalty Than Price

 In International

New research from Forrester finds that when it comes to building loyalty, people respond more to the experience they have with the retailer than with their perception of price. And brands like Marshalls, Amazon, Trader Joe’s and Costco are ahead of the pack in using that experience to drive sales and relationships.
The study reports that for stores, customer experience accounts for 47{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} of loyalty; when price/value is factored in, it rises to just 47.2{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}. For banks, also included in the research, it amounts to about 55{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}. Adding the price/value analysis, it rises to just 56.3{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}.  MediaPost News – Read more…

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