24th Nov 2017
Retailers risk future sales worth £1.9 billion if they fail to offer excellent customer service on Black Friday.
That’s according to new research released by The Institute of Customer Service, which revealed that shoppers who experienced ‘excellent’ service during Black Friday last year were more likely to return to that retailer and make further purchases in the following 12 months.
The research also highlighted the extensive gap between those organisations who offer ‘excellent’ and ‘OK’ customer service.
Of those customers who experienced excellent customer service, 94% shopped with that same retailer again, and spent an average of £201 over the next year.
Three quarters of those who experienced ‘average’ customer service said they were less likely to return over the next 12 months, but also spent significantly less in that time (£158).
Jo Causon, CEO of The Institute of Customer Service, comments: “Retailers should not view Black Friday simply as an opportunity to shift discounted stock: they must uphold a responsibility to ensure customers receive a high-quality experience too.”
Last year, 63% of people made a purchase on Black Friday according to The Institute’s research, with an average spend of £185, but many spend more. Brits are also more willing to part with their cash and spend money on big ticket items on Black Friday, with 50% of people spending between £100-£500 with one retailer last year.
Causon continues: “Our new research into the Black Friday customer experience reinforces the notion that ‘good is no longer good enough’, with ‘excellent’ service during Black Friday translating into £1.9 billion in subsequent sales for those retailers during the subsequent year.
“Canny retailers should take note: customers are for life, not just for Christmas. Those seduced by quick sales and chasing revenue will do themselves a long-term disservice by selling out short-term customers. This is not sustainable and Black Friday isn’t the answer to easing shareholder concerns.”