Fear of ‘money for nothing’, as customers pay more for less

20th Apr 2016

Reacting to reports of evidence emerging to suggest that retailers are charging more - or the same - for reduced size products, Jo Causon, CEO of The Institute of Customer Service, comments: 

“Five years ago, price was a consumer’s main priority, but today their loyalty is influenced by the overall customer experience and whether or not they can trust a brand.  

“Instead of being deceptive about changing price points, organisations should highlight why changes are being made.   If they are not transparent, the latest UK Customer Satisfaction Index suggests that trust in a brand falls by 44 percent, with the knock-on effect being felt in terms of market share and business performance.  

“The fact is that transparency and value for money are really important to consumers.  Retailers who can deliver on these build consumer confidence and will be rewarded with their loyalty.”

Ends
 

Notes to editors
For further information please contact:
Ellie Scott and Carole Cassidy
E: [email protected]   
T: 0207 010 0831 (Ellie Scott) or 0207 010 855 (Carole Cassidy) 

About The Institute of Customer Service
The Institute of Customer Service is the professional body for customer service delivering tangible benefit to organisations and individuals so that our customers can improve their customers’ experience and their own business performance.  The Institute is a membership body with a community of over 500 organisational members – from the private, public and third sectors – and over 4,000 individual memberships.  For more information about the Institute of Customer Service go to www.instituteofcustomerservice.com.

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