Latest ACSI Results From The University Of Michigan

The latest American Customer Satisfaction Index results from the University of Michigan were released yesterday.

In the E-Commerce sector, Newegg comes out on top, wrestling away the top spot historically held by Amazon, although Amazon's results, while down slightly from last year, nevertheless very impressive.  Check out our commentary on the E-Retail, Online Brokerage and Online Travel sites covered by the ACSI Index.

Now we all know we are in a tough economy, so does Customer Satisfaction matter in a tough economy?  Yes - more then ever.  What we have is a hyper-competitive environment where the rising tide that previously lifted all of the e-commerce "boats" is no longer rising.  In other words, the amount of consumer spending (which drives 2/3 of the economy) is shrinking.  Yet we for the most part we have the same number of companies competing for that shrinking consumer spending.  The result, a much more competitive environment where there will be more winners (Amazon, Newegg, etc.) and more losers (Circuit City, etc.).  So, there has never been a more important time to satisfy your customers. The satisfied customer will be the one that spends the most, is the most loyal, recommends you the most and is the last customer to leave you.  The dissatisfied customer will be gone as soon as they can.  And remember, you cannot manage what you cannot measure.

On a broader, economic stage, what do these results tell us?  In order for consumer spending to rebound, two things must happen.  Consumers must get gratification and satisfaction from their spending and consumers must have the means to spend, with cash or credit.  Well, customer satisfaction is holding it's own and now we need consumers to get the means to spend money.  Hopefully the Stimulus plan can have some impact.

Comments

[Computer Repair]

Consumer's satisfaction also depends of product's price. But our prices are out of range of consumer satisfaction.

[Sheer curtain]

What is the American Customer Satisfaction Index?
The American Customer Satisfaction Index (ACSI) is an economic indicator based on modeling of customer evaluations of the quality of goods and services purchased in the United States and produced by both domestic and foreign firms with substantial U.S. market shares.

[Sweet sixteen cakes]

Was established in 1994 by the Center to provide a new economic indicator tracking the quality of products and services from the perspective of the customer. The ACSI is the only measure of the quality of economic output nationwide. Research is showing the ACSI to be a leading economic indicator, and a predictor of financial performance at the firm level.

[Glass bottle cutter]

So is there a way to submit a link to just your chosen communities? Few of my submission go to the larger groups but I can no longer figure out how to submit to my communities only.

[Used go kart]

The American Customer Satisfaction Index (ACSI) is an economic indicator based on modeling of customer evaluations of the quality of goods and services purchased in the United States and produced by both domestic and foreign firms with substantial U.S. market shares.

[Wooden privacy fence]

Sears is planning on opening a warehouse style concept store in Joilet Illinois this summer. The store will feature a drive-through. I like the idea of that. This also could be a great way to appeal to a younger, more internet savvy audience, that historically has been a challenging segment for Sears.