The Customer is Always Right… Up to a Point
A newly released report has revealed the bitter truth: despite brands’ efforts to deliver seamless customer experiences, a significant majority of consumers are still willing to jump ship for a better deal – and a whopping R12.148 billion is being left on the table as a result.
The 2024 South African CX report, now in its sixth year, surveyed 2,000 consumers and 75 business leaders, shedding light on the disconnect between what brands think drives repeat business and the reality on the ground. The data shows that 59% of consumers plan to shop with the same or greater frequency this year, but only 31% of businesses believe that is the case.
So, what’s the root of the problem? It appears that brands are still stuck in their own little world, thinking that "same-same" experiences are enough to keep customers coming back. Newsflash: they’re not. Consumers crave more. They want to feel like they’re getting something special, and 71% of them are willing to pay a premium for it.
But here’s the twist: only 44% of business leaders agree that customers are willing to pay more for a positive experience. It’s a chasm that needs bridging, and fast. The stakes are high: if brands can’t find a way to deliver that little extra something, they risk losing ground to competitors who can.
Takealot, Checkers, and Shein are already ahead of the game, offering experiences that delight and excite customers. Temu, that pesky new kid on the block, is also making waves with its speedy delivery. But what about the rest? Can they catch up before it’s too late?
The report raises more questions than it answers: Can brands really deliver those "moments of delight" consumers crave? Are they willing to innovate and take risks to stand out in a crowded market? Or will they continue to peddle the same old "me-too" experiences that leave customers yawnsome?
One thing’s for sure: the customer experience game is no longer about merely getting the basics right. It’s about going above and beyond, giving consumers a reason to choose you, to love you, and to bring you back time and time again.
The question is, are South African brands up for the challenge? Or will they continue to leave R12.148 billion on the table, year after year? Only time will tell.
