Online Shopper Satisfaction Remains Strong, According to ForeSee Results Holiday Retail Benchmark
Consumers More Likely to Buy on the Web and Offline in 2007
ANN ARBOR, Mich. (December 5, 2007) – Despite a slight decrease in online shopper satisfaction during the week following Cyber Monday, customer satisfaction continues to outpace 2006 levels, a positive indicator for the rest of the holiday retail season. More importantly, consumers are more likely to buy both online and offline than they were last year, a direct result of improved satisfaction.
During the week from November 26, (Cyber Monday) through December 2, the aggregate satisfaction score in the ForeSee Results Holiday Retail Benchmark was 76.3 on a 100-point scale, down just 1% from the Thanksgiving holiday weekend score of 77.1. This satisfaction level outpaces the 2006 score of 76.0 by .4%. Scores for likelihood to purchase online (75.4), and likelihood to purchase through stores or other channels (79.7), were up 1.9% and 2.2% respectively over the same period last year.
“Unlike other retail benchmarks, ours focuses in on the browsing experience to project a more accurate view of the true contribution of the web shopping visit to the bottom line,” said Larry Freed, President and CEO of ForeSee Results. “The increase in shoppers’ likelihood to purchase offline is testament to the important role of the web in arming shoppers with information and influencing purchases that occur in stores and other channels. This contribution is impossible to quantify through other measures.”
This second weekly holiday benchmark was produced using the methodology of the University of Michigan’s American Customer Satisfaction Index (ACSI), which has been proven to be predictive of future sales (online and offline), word of mouth recommendation, and financial performance. Data was collected from more than 57,000 visitors to more than 40 retail websites (between Cyber Monday, 11/26/07 and Sunday, 12/2/07 ), including AT&T Wireless; Best Buy; Cabela’s; Danskin; Helzberg Diamonds; Panasonic; Sephora; Toys R Us, and other top Fortune 500 retailers.
“The trends we see in the ForeSee Holiday Retail Benchmark bode well for a continued strong holiday shopping season.,” said Freed. “Even so, it’s more critical than ever that retailers strive to satisfy shoppers online, as e-retail has matured and multi-channel shopping has gone mainstream. Shoppers will consult websites to make sure they’re getting the maximum value for their money, especially in light of high gas prices and other challenging economic conditions.”
“Cyber Monday was just the kick-off to a series of high volume, high sales points throughout the holiday season,” said Freed. “Maintaining high levels of customer satisfaction throughout the holiday shopping period will separate the winners from the losers.”
For more information on the results of the 2007 Cyber Monday Survey, please contact Chaat Bustunturn (415-391-7900, x114; cbutsunturn@kearnswest.com) or Courtney Jenkins (202-821-2120; cjenkins@kearnswest.com)
About ForeSee Results
ForeSee Results is the market leader in using online voice-of-customer data to help companies increase sales, loyalty, recommendations, and website value. Using the methodology of the University of Michigan’s American Customer Satisfaction Index (ACSI), ForeSee Results identifies which improvements and enhancements to online marketing initiatives will have the greatest ROI. With over a quarter of a billion completed customer surveys to date, more than 30 benchmarks, and nearly 600 online measures across dozens of industries, ForeSee Results’ retail clients include Ace Hardware, Cabela’s, Chef’s Catalog, Danskin, Eastern Mountain Sports, Finish Line, and the NHL, among many others. ForeSee Results, a privately held company, is located in Ann Arbor, Michigan and on the web at www.ForeSeeResults.com.