Forrester’s US 2023 Customer Experience Index: Brands’ CX Quality Falls For A Second Consecutive Year
June 13 2023 - 9:00AM
Business Wire
While four out of five business leaders say
improving CX is a high priority, only 6% of brands see an increase
in their CX quality
According to Forrester’s (Nasdaq: FORR) US Customer Experience
Index (CX Index™) rankings, CX quality among brands in the US
declined for an unprecedented second year in a row. Despite more
than 80% of business leaders indicating that improving CX is a high
priority, just 6% of brands saw a significant increase in 2023,
compared to 10% the year prior.
Luxury auto manufacturers and retailers are the only industries
to significantly improve their overall CX quality this year. Brands
from both industries, including Infiniti, Lincoln, and Tractor
Supply, joined the 2023 list of elite brands — the top 5% of brands
in the entire CX Index. Seven of the 11 elite brands are repeats
from 2022: Chewy.com, Etsy, HEB, Navy Federal Credit Union, Trader
Joe’s, and USAA (for both credit card issuers and auto/home
insurers).
Emotion remains a key driver for delivering high levels of CX
performance. In 2023, elite brands delivered customer experiences
that evoked, on average, 29 positive emotions — including feeling
happy, valued, and appreciated — for each negative emotion.
“The past 12 months have been unpredictable for consumers and
brands in the US, especially as brands struggle to sustain CX
quality levels achieved during the pandemic,” said Rick Parrish, VP
and research director at Forrester. “Despite the continued drop in
CX quality, the silver lining is that more organizations are aware
that they need to prioritize their customers’ needs to drive
business growth. When companies invest in improving their CX
quality, they receive many benefits, including higher customer
loyalty, retention, and devotion.”
Conducted for the eighth year in a row, Forrester’s Customer
Experience Benchmark Survey, which collects data to calculate
Forrester CX Index scores, is based on more than 96,000 US
customers across 221 brands and 13 industries. Forrester’s
proprietary Customer Experience Index methodology provides the data
and insights needed to assess CX quality, understand how CX impacts
loyalty intentions, and prioritize improvements that drive revenue.
Even a minor improvement to a brand’s customer experience quality
can add tens of millions of dollars of revenue by reducing customer
churn and increasing share of wallet.
Forrester’s CX Index rankings and results reports are accessible
within the Forrester Decisions portfolio of research services.
Clients of Forrester Decisions services for Customer Experience,
B2C Marketing Executives, and Digital Business & Strategy have
access to the CX Index Extended Data Benchmark to help prioritize
improvements based on industrywide trends and impact on customer
loyalty.
Resources:
- Read more about the results of Forrester’s US 2023 CX Index and
explore Forrester’s US 2023 CX Index report (client access
required).
- Discover how leaders can become customer-obsessed and
accelerate growth.
- Explore Forrester Decisions services for Customer Experience,
B2C Marketing Executives, and Digital Business & Strategy.
About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research
and advisory firms in the world. We help leaders across technology,
customer experience, digital, marketing, sales, and product
functions use customer obsession to accelerate growth. Through
Forrester’s proprietary research, consulting, and events, leaders
from around the globe are empowered to be bold at work — to
navigate change and put their customers at the center of their
leadership, strategy, and operations. Our unique insights are
grounded in annual surveys of more than 700,000 consumers, business
leaders, and technology leaders worldwide; rigorous and objective
research methodologies, including Forrester Wave™ evaluations; 70
million real-time feedback votes; and the shared wisdom of our
clients. To learn more, visit Forrester.com.
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Ira Kantor Forrester Research ikantor@forrester.com
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