18th Nov 2015
London, 20 November 2015 – As many retailers get ready for Black Friday, Institute of Customer Service CEO, Jo Causon argues that ‘rapid-fire stock shifting can do retailers more harm than good’. Her comments come in the wake of research which reveals that 1 in 4 UK customers are less concerned with price if service, delivery and product quality meet a high standard.
Causon says: “Heavy discounting in
a concentrated period of time might be attractive to some customers, but in a
trading environment which is looking less robust than just a few weeks ago, how
organisations manage their profitability and performance over the long-term
must surely be a greater priority for the Boardroom.
“Customers are increasingly wise about why products go on sale. Many realise that flash sales are little more than a way to reduce old stock and the savvy consumer is now more concerned about the support they’ll get if things go wrong. Customer satisfaction in the UK may have stabilised in recent months, but there is huge polarisation in performance between the organisations intent on improving the customer experience and those with their eye looking elsewhere.
“The risk of building up so much anticipation over such a short time is that some customers will be left disappointed if what they want sells out, or if the ability to purchase is hindered by technology failing when too many visitors to a site cause it to crash. A poor experience leads customers to look elsewhere and it will be the organisations who put long-term reliability over short-term revenue whose trading will do well long after Black Friday is over.”
Notes to editors
information please contact:
Nathan Field / Michael Creane / Tom Ingoldby (Chameleon PR)
T: 020 7680 5500
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 400 organisational members – from the private, public and third sectors – and over 5,000 individual memberships. For more information about the Institute of Customer Service go to www.instituteofcustomerservice.com