Experience is king! 60% of North American consumers believe that businesses need to improve their services

As online shopping frequency increases , consumers desire more personalized and flexible services and experiences .

A new survey of 3,000 North American consumers by fintech company Broadridge Financial Solutions shows that nearly 60% of respondents believe merchants need to improve their customer experience.

More than half , or 56%, of the respondents believe that the epidemic has fundamentally changed the way they communicate and interact with businesses , and 54% of the respondents believe that the level of humanization in their communication with businesses has increased. However, despite a large number of respondents participating in various online business interactions for the first time in 2020 , only 54% of the respondents believe that their experience was good .

The survey also showed an uptick in consumers using services on mobile devices . Nearly half , or 49% , of consumers have increased their use of company mobile apps since the pandemic began, including 32 % of baby boomers who have used apps .

Similarly, consumers are more willing to accept mobile payments, with about two-thirds , or 65%, of respondents saying they would use mobile apps to pay bills , 64% of consumers are interested in receiving personalized short video messages , and nearly 60% want companies to send bills, statements and other important documents directly to their preferred cloud storage location.

When it comes to their favourite channel for receiving communications, half of respondents still prefer physical mail , with three quarters ( 76%) saying they would still like to receive paper communications in three years’ time .

Regardless of delivery preference, consumers want a seamless omnichannel experience. An overwhelming 84 % of respondents want businesses to make it easier for them to interact across digital and other channels.

More than 40% of respondents have stopped buying from a particular merchant simply because the merchant did not do a good job of personalizing the experience. Millennials (59%) and Gen Xers (51%) are most likely to switch vendors, compared to just 28% of baby boomers .

This survey data shows that customers' demand for personalized experience is constantly upgrading. Retailers that do not improve the experience and fail to meet consumer expectations are more likely to lose target customers.

Experience is king

Online Services

North America