Retailer Satisfaction
FORESEE RESULTS / FGI RESEARCH REPORT
CUSTOMER SATISFACTION, LOYALTY, AND BUYING BEHAVIOR IN THE EVOLVING MULTI-CHANNEL RETAIL WORLD
JANUARY 2005
Commentary by Larry Freed President and CEO, ForeSee Results
FORGING A NEW CUSTOMER-CENTRIC PERSPECTIVE ON MULTI-CHANNEL SHOPPERS
Today’s consumers demand choice and convenience. They “mix and match” channels according to their needs for product research, purchase and delivery. As cross-channel shopping behavior grows mainstream, the best way to evaluate and compare retail channels is to gauge their relative impact increasing customer satisfaction and loyalty. Customer satisfaction presents a versatile cross-channel metric to gauge the retailer’s strengths and weaknesses from the customer’s point of view. Since satisfaction drives behavior, a more thorough understanding of what drives multi-channel shoppers’ satisfaction will give retailers the insights they need to influence customer behavior in the short term and long term. In this way, customer satisfaction is harnessed to become a driving force in sales growth and increasing loyalty where each channel is optimized to meet the customers’ needs and exceed their expectations. Multi-channel retailers, like all retail organizations, have two primary goals: sales and loyalty. These goals assume critical importance during the holiday season when retailers have the opportunity to build their brands, draw in new customers and strengthen their share of wallet with existing customers. For the multi-channel retailer, an additional challenge lies in making sure that all channels work together to support the overall sales and marketing strategy. These goals share the common thread of customer satisfaction. Customer satisfaction is a driving force in sales growth, increased loyalty and a strong multi-channel strategy where each channel is optimized to meet customers’ needs. To determine how well multi-channel retailers are meeting the needs of their customers, ForeSee
CUSTOMER SATISFACTION, LOYALTY, AND BUYING BEHAVIOR IN THE EVOLVING MULTI-CHANNEL RETAIL WORLD
JANUARY 2005
Commentary by Larry Freed President and CEO, ForeSee Results
FORGING A NEW CUSTOMER-CENTRIC PERSPECTIVE ON MULTI-CHANNEL SHOPPERS
Today’s consumers demand choice and convenience. They “mix and match” channels according to their needs for product research, purchase and delivery. As cross-channel shopping behavior grows mainstream, the best way to evaluate and compare retail channels is to gauge their relative impact increasing customer satisfaction and loyalty. Customer satisfaction presents a versatile cross-channel metric to gauge the retailer’s strengths and weaknesses from the customer’s point of view. Since satisfaction drives behavior, a more thorough understanding of what drives multi-channel shoppers’ satisfaction will give retailers the insights they need to influence customer behavior in the short term and long term. In this way, customer satisfaction is harnessed to become a driving force in sales growth and increasing loyalty where each channel is optimized to meet the customers’ needs and exceed their expectations. Multi-channel retailers, like all retail organizations, have two primary goals: sales and loyalty. These goals assume critical importance during the holiday season when retailers have the opportunity to build their brands, draw in new customers and strengthen their share of wallet with existing customers. For the multi-channel retailer, an additional challenge lies in making sure that all channels work together to support the overall sales and marketing strategy. These goals share the common thread of customer satisfaction. Customer satisfaction is a driving force in sales growth, increased loyalty and a strong multi-channel strategy where each channel is optimized to meet customers’ needs. To determine how well multi-channel retailers are meeting the needs of their customers, ForeSee