The American Customer Satisfaction Index (ACSI) recently released results for fourth quarter 2009. Despite the bad economy, ACSI data indicated that consumers were overall satisfied with their retail experiences. While some retailers did experience a decline, there were more gainers than losers.
Professor Claes Fornell suggests that gains in customer satisfaction could be attributed to the economic uncertainty. Retail employees tend to work harder to please the customer when their job depends on it. In addition retailers likely make service a higher priority when sales goals are harder to hit.
Nordstrom, who is known for its high quality of service and attentiveness to shoppers, actually rose 4% in the rankings with an all time high of 83%. Likewise in the grocery sector, Publix, also known for superior service, maintained their lead improving by 5% while the sector overall remained unchanged.
The study also analyzes banks, department, discount and specialty retail stores. According to Fornell,”the ‘will to spend’ is evidenced by high customer satisfaction. The issue is whether or not consumers have the means to spend.” The good news for retailers that scored well in customer satisfaction is that when the means does return their work to stay connected with the shopper will certainly pay off.
