80% of APAC customers

Poor customer experiences cost businesses up to $216 billion in India

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Mumbai: 96% of users in India had poor customer experiences as customers in 2021 revealed a new report. The Qualtrics 2022 Global Consumer Trends report pointed that such high poor customer experiences could cost businesses up to $216 billion in India.

Given such poor customer experiences, a third of surveyed consumers have cut spending with those companies and brands. as well, the report stated. The most common area consumers wanted businesses to improve was customer service support, followed by prices and fees.

Consumers also asked for improvement in communications and online resources. Three-quarters of respondents said businesses need to care more about them (74%) and get better at listening to their feedback (72%).

81% of respondents said if treated better, they would spend more with a company. The value of experience based on additional research from the Qualtrics XM Institute, found consumers in India are twice as likely to re-purchase, trust, and recommend a company after a positive customer experience. A third of respondents (34%) said they have cut spending after a poor customer experience.

It’s not just the consumer businesses need to worry about in 2022.

Employee experience will be important in attracting, retaining, and developing talent next year. Two-thirds of respondents (63%) in India said they intend to stay in their current job through 2022, according to Qualtrics research.

“As organisations across India accelerate their digital capabilities, addressing the disconnect between what customers and employees want and what’s actually being delivered must be prioritised,” said Navneet Narula, Country Manager – India, Qualtrics.

“Experience is now critical to every function and department. Those companies that rapidly embark on journeys to transform the experiences they deliver in order to meet current and evolving needs are set to win an outsized share of the market,” added Narula.

“By continually listening and taking action on what matters to customers and employees, businesses can address the macroeconomic challenges they’re currently facing – such as talent shortages, supply chain disruptions, and rising costs – in a sustainable and meaningful way,” concluded Narula.

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