Bad Experiences = Money Lost

Ann-Marie Vazzano

More than 80% of shoppers don’t give retailers a chance to redeem themselves after a poor customer experience, according to a LoyaltyOne and Verde Group study. A whopping 50% of the 2,500 consumers surveyed said they experienced a problem the last time they made a purchase and more than 8 in 10 of those customers didn’t actually contact the retailer about the problem. Nearly one-third (32%) of those who experienced a problem said they probably wouldn’t recommend that retailer to family or friends, and were less likely to spend there again. On the flipside, those who did let retailers know of a bad experience and whose problems were resolved were 84% less likely to decrease their spending at that store. GP