Accenture’s “Switching Economy” analysis is part of the company’s tenth annual Global Consumer Pulse Research, which gauges the experiences and attitudes of 23,665 customers around the world about marketing, sales and customer service practices.
56% of consumers report that the number of brands they consider has increased significantly over the past 10 years, and 46% believe they are more likely to switch brands compared to 10 years ago.“Today’s customer’s sense of loyalty to an existing provider is often eclipsed by a competitor’s personalized and tailored experience,” said Kevin Quiring, managing director, Accenture Strategy. “Our research shows that some companies are opening the door to ‘non-traditional’ competitors who are often more willing to ‘do things differently’ and offer prospective customers more opportunities for customization.”
Failure to quickly resolve an issue continues to drive the switching trend, with little improvement reported over the past six years.
Check out the slideshare presentation from Accenture, here.