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Personalization drives revenue

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NEW YORK — Retailers seeking to add revenue should look to enhancing “individualized” experiences for their customers, as the two are directly linked, according to a new report from audit, tax and advisory firm KPMG.

The report found that companies providing the best personal individualized experiences to customers see higher revenue growth and improved brand standing and loyalty. The “2018 U.S. Customer Experience Excellence Analysis” also ranked the top consumer “champion” brands according to customer experience delivery.

Among those that consumers ranked highest were H-E-B, at No. 4 (up from No. 16 in 2017); Publix Supermarkets Inc., at No. 6 (up from No. 7); Wegmans Food Markets Inc., at No. 7 (up from No. 10); and Amazon.com, at No. 10 (down from No. 4). The brands included in the study were ranked across KPMG’s Six Pillars of Customer Experience Excellence: Personalization, Integrity, Expectations, Resolution, Time and Effort, and Empathy.

“In 2018, the concept of individuality and the unique sense of self remain equally relevant. However, now companies must not only show that they know their customers’ names but that they know them as a person,” said Julio Hernandez, Global Customer Center of Excellence lead and U.S. Customer Advisory lead at KPMG.

KPMG’s study found that personalization is key to the successful delivery of a customer experience and requires in-depth knowledge of the ­customer.


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