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.

About Conduent

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.

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This latest volume of research contains trending and new data built around the experiences and perspectives of 111 senior CX leaders. It includes content on a variety of topics including CX Technology, Touchpoints, CX Strategies, Workforces, Workplaces, and a special section devoted to comparing CX Leaders Trends & Insights Consumer and Corporate Edition results. And like previous editions, this new research is enriched with the powerful Practitioner’s Perspectives insights — snapshot analysis from accomplished CX leaders representing top brands, each targeting a specific research result.

“This year’s CX Leaders Trends & Insights Corporate Edition report is brimming with optimism,” said Susan McDaniel, Co-Founder and COO of Execs In The Know. “Certainly, the industry has its share of challenges to overcome as we head deeper into 2023, but more and more organizations are finally finding firm footing after several years of unpredictable and unrelenting change. It’s reassuring to see that, even during times of tremendous change, many organizations have managed to maintain the customer as their top priority.”

While the specific data points are wide-ranging across CX topics, a few highlights from this latest research include:

• Eighty-six percent of CX leaders felt their organizations were generally meeting the customer care needs and expectations of customers
• Seventy-seven percent of survey respondents describe the shift to WFH as having a “Very Positive” or “Somewhat Positive” impact on meeting customer needs and expectations, up from 66% in 2021
• Seventy-four percent of CX leaders indicated their organizations are already taking significant or modest actions to address economic uncertainties
• Only 31% of CX leaders are “Very Satisfied” or “Satisfied” with the CX technology stack

Download this 2022 Corporate Edition, explore previous editions of the CX Leaders Trends & Insights series, and other CX-related research and content!

Execs In The Know has been producing high-quality, in-depth CX-related research and other content for more than a decade. Expand your CX knowledge today: CX Research, CX Insight Magazine, and Blog.

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This latest volume of research contains trending data built around the experiences and perspectives of consumers. It includes content on a variety of specific topics such as Multichannel Journeys, Self-Help Solutions, and Consumer Preferences, as well as an entirely new dataset examining “The Happy Consumer.” Made available in print at CRS Coronado, this 76-page report is now available in its digital release on the Execs In The Know CX Research webpage.

Like previous editions, this new research is enriched with the powerful Practitioner’s Perspectives insights — snapshot analysis from accomplished CX leaders representing top brands, each targeting a specific research result. These insights, along with both demographic and cross-comparison analysis, provide readers with actionable, practical concepts from cover to cover.

“Now in its second year of series publication, we are thrilled with the evolution of this research,” said Susan McDaniel, Co-Founder and COO of Execs In The Know. “As brands face new and challenging economic headwinds, maintaining a window into the experiences and expectations of consumers is essential in developing effective strategies and needle-moving initiatives for continuous CX improvement. Furthermore, we are grateful to our Practitioner’s Perspective contributors for helping bring the data to life with relevant real-world examples and insights.”

While the specific data points are wide-ranging across CX topics, a few highlights from this latest research include:

• Text-Based solutions had sizable year-over-year (YOY) gains with 35% of consumers naming them as their most frequently used solution
• “Difficulty in Reaching a Live Person” was the top frustration among consumers
• Better agent communication (listening and speaking) ranks as a top consideration among consumers when interacting with an agent to resolve an issue
• Age plays a significant role in channel preferences, with 64% of those 65 years and older preferring the help of a live agent, compared to only 41% of those ages 18 to 24 years

Surveying for the 2022 CX Leaders Trends & Insights Corporate Edition report is now open! Following the launch of the Consumer Edition, Execs In The Know opened its corporate surveying for the 2022 Corporate Edition report — a companion report to the Consumer Edition report featuring more than 80 datapoints, all from the perspective of practicing CX leaders. The 2022 Corporate Edition report is set to release at Execs In The Know’s next Customer Response Summit event in Austin, Texas (March 1-3, 2023).

For all Execs In The Know CX Research, visit: https://execsintheknow.com/knowledge-center/cx-research/

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The report is aimed at providing insights into consumer opinions and behaviors, specific to the financial services industry. Topics in this report include customer care experiences, channel use, customer effort, quality of care, privacy, and a comparison on U.S. and Canadian customers.

The infographic below highlights a few key findings, but you can also download the full complimentary report here. 

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