PHOENIX, ARIZONA, and FLORHAM PARK, NJ, US, September 12, 2023 — Global customer experience (CX) industry leader Execs In The Know is proud to announce the release of Experience & Loyalty Insights: A Research-Based Review — Retail & eCommerce. This research is released in partnership with Conduent, a global digital business solutions and services provider covering the commercial, government, and transportation spectrum.
This new 70+ page report focuses on a specific vertical (Retail/eCommerce) and includes comparisons between consumer and corporate practitioners, as well as comparisons against past research from Execs In The Know and Conduent to uncover insights across all industries.
By comparing the Retail/eCommerce vertical with other industries, several differences emerge. The standout characteristics for Retail/eCommerce brands include channel diversity, the proactive approach to economic uncertainty, and CX leaders’ satisfaction with their tech stacks. Generally, consumers are pleased with the customer care they are receiving from Retail/eCommerce brands, but they still seek faster, simpler transactions, more consistency across channels, and easier access to live support.
A few key insights from this latest research:
- Regardless of loyalty status, most consumers feel the key to an exceptional customer experience is to “Provide Consistent, High-Quality Experiences at Every Touchpoint”
- On a five-point scale, 42% of consumers said Retail/eCommerce brands are providing “Better” or “Much Better” customer care compared to that of three years ago (pre-pandemic)
- “Managing Cost, Including Rising Operational Costs” is expected to be the biggest CX challenge among most (56%) Retail/eCommerce brands in the coming 12 months
- Sixty-nine percent of Retail/eCommerce brands have seen improvement in their critical program KPIs over the past 12 months
“This report opens an exciting and new avenue of research for our community,” said Susan McDaniel, Co-Founder and Chief Operating Officer of Execs In The Know. “Loyalty is an important topic, not just for our friends in the Retail/eCommerce vertical, but across industries. Many of the findings contained in this report translate well on a cross-industry basis, providing a clear picture of what loyalty means to consumers, and how brands can cultivate more loyal customers.”
“This unique research by Execs In The Know and Conduent provides CX leaders with the types of findings and insights to help them shape strategies and focus CX investments,” said Ryan Collins, Vice President and General Manager Customer Experience Management Solutions at Conduent. “A key takeaway from the research is that the fundamentals of customer service must be solid. Emerging technologies and communications channels are only beneficial and further enhance customer experience if they are implemented strategically and complement the work of agents. They must remain focused on people, processes, training and creating exceptional experiences for customers and then integrate new solutions to meet changing expectations.”
About Execs In The Know
Execs In The Know brings together customer experience (CX) leaders from across industries in an effort to advance the conversation and set a new agenda for delivering amazing experiences for consumers. As a global community of the brightest minds in CX, Execs In The Know provides opportunities to learn, share, network, and engage to innovate. Operating under the motto, “Leaders Learning From Leaders,” Execs In The Know facilitates many opportunities for community engagement, such as its bi-annual national Customer Response Summit and private, online community, Know It All “KIA.” There are also exclusive, laser-focused engagements like industry briefings and executive roundtables. Execs In The Know also guides and informs the industry with a rich tapestry of CX-related content that includes CX Insight magazine, industry research, webinars, blogs, and much more.
To learn more about Execs In The Know, visit www.execsintheknow.com.
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum — creating exceptional outcomes for its clients and the millions of people who count on them. The company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 60,000 associates, process expertise and advanced technologies, Conduent solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways, including delivering 43% of nutrition assistance payments in the U.S., enabling 1.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 12 million tolling transactions every day.
To learn more about Conduent, visit www.conduent.com.