Observed Signal · Jun 13, 2023 · Research Report · Source: CMSWire · Impact: 2/5 · Sentiment: Negative
US Brands' CX Quality Declines for Second Consecutive Year
The quality of customer experience (CX) at US brands declined for the second consecutive year, according to Forrester's US 2023 Customer Experience Index. The report, based on more than 96,000 US customers across 221 brands and 13 industries, found only 6% of brands achieved significant CX improvement in 2023, down from 10% the previous year, even though 80% of business leaders recognize the importance of improving CX. Luxury auto manufacturers and retailers were the only industries showing significant gains. Brands including Infiniti, Lincoln, Tractor Supply, Chewy.com, Etsy and Trader Joe's earned elite status. Experts cited immature CX programs, insufficient focus on the full customer journey, and budget constraints as reasons for the stagnation, while emphasizing the link between CX quality and loyalty, retention and recurring revenue.
Reports a notable decline in US CX quality for the second consecutive year, relevant to CX/MarTech landscape but not a major adtech industry shift.
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Key Takeaways & Evidence Grounding
- Forrester's US 2023 Customer Experience Index found US brands' CX quality declined for the second consecutive year.
- Only 6% of brands reported significant CX improvement in 2023, down from 10% the previous year.
- The report analyzed 96,000 US customers across 221 brands and 13 industries.
- Luxury auto manufacturers and retailers were the only industries with significant CX improvements in 2023.
- Elite brands included Infiniti, Lincoln, Tractor Supply, Chewy.com, Etsy and Trader Joe's.
Connected Companies & Entities
4 Entities mapped“according to Forrester's US 2023 Customer Experience Index...”
“Prominent brands such as Infiniti, Lincoln, and Tractor Supply joined the coveted list of elite brands...”
“The list also includes seven repeat achievers from 2022, such as Chewy.com, Etsy, and Trader Joe's....”
“The list also includes seven repeat achievers from 2022, such as Chewy.com, Etsy, and Trader Joe's....”
Ontology Mapping & Concepts
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