Study ranks customer experience quality of 36 brands across 6 industries, with no brand achieving excellent performance this year
NEW DELHI, Dec. 3, 2018 /PRNewswire/ -- The quality of customer experience (CX) has started to plateau in India, according to Forrester's 2018 Customer Experience Index (CX Index™). This year's data reveals that no brand achieved excellent performance, and only three brands moved up to provide good CX, compared with nine that did so in 2017.
Based on a survey of more than 9,000 Indian online adult consumers in 2018, Forrester's CX Index measures and ranks 36 brands in India across six industries to identify how well a brand's customer experience strengthens the loyalty of its customers.
Findings of the fourth annual study in India show that while the quality of customer experiences in the country continues to improve, the rate of improvement is slowing down. Of the 36 brands, just five had a statistically significant rise in their scores, compared with 20 last year. In 2017, no brand saw its score fall, whereas this year three brands' scores dropped significantly. Additionally, emotion has a bigger influence on customer loyalty than effectiveness or ease in nearly every industry.
"True CX leadership can be achieved by not only improving your brand's CX but also by focusing on emotion," said Amit Bhatia, Forrester senior analyst and author of the report. "The impact of positive emotions on loyalty is clear and strong. For example, in the multichannel retail industry, among customers who felt valued, 82% plan to stay with the brand, 85% plan to increase their spending with it, and 86% will advocate for it."
Forrester's CX Index reveals the companies that are recognized as best in their industries, with the following companies named leaders in their respective fields: Bharti AXA (auto and home insurers); HDFC Bank (banks); American Express (credit card issuers); Koovs.com (digital retailers); and Ezone (multichannel retailers).
About Forrester's CX Index
Forrester's CX Index is the most complete and powerful CX tool in the market today. CX Index gives businesses a deep and actionable understanding of the quality of their customers' experiences, competitive benchmark data so that business and technology leaders know how they stack up against their peers, and the ability to model the improvements that will have the biggest impact on revenue.
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We work with business and technology leaders to develop customer-obsessed strategies that drive growth. Forrester's unique insights are grounded in annual surveys of more than 675,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of our most innovative clients. Through proprietary research, data, custom consulting, exclusive executive peer groups, and events, the Forrester experience is about a singular and powerful purpose: to challenge the thinking of our clients to help them lead change in their organizations.