53 per cent said lack of knowledge of customer service representatives was also a reason
Customers switching from one brand to another on account of poor user experience and customer service represents an opportunity worth $331 billion, consulting firm Accenture on Monday said.
New Delhi: Customers switching from one brand to another on account of poor user experience and customer service represents an opportunity worth $331 billion, consulting firm Accenture on Monday said.
According to the study, ‘Global Consumer Pulse Research: An Indian Perspective’, 88 per cent respondents from India said they switched companies in at least one industry due to poor service. This is significantly higher in India than the global average of 64 per cent where switching due to poor service is more prevalent in service-oriented industries like banking and Internet service, the study added.
The global study, which covers countries like Belgium, Brazil, France, Germany, Japan, the UK, the US, China, Mexico and South Africa, pegged the global switching opportunity to be at $6.2 trillion in 2014 from $4.9 trillion in 2010.
“Switching customers represent a huge potential loss of revenue for companies that fail to retain them, and a huge opportunity for those that can attract them. We estimate that the switching economy in India is currently worth $331 billion,” it said. About 86 per cent respondents who had switched said the companies could have done something to prevent service providers from switching.
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( Source : PTI )
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