ANN ARBOR, Mich.--()--Satisfaction with Top 100 e-retailers rebounded from a dive this time last year, to an all-time high score of 78 points out of 100, a five-point increase. According to ForeSee Results’ annual Top 100 Online Retail Satisfaction Index, consumers are more satisfied with their online experiences than ever before. Nearly every individual retailer registered a score that matched or exceeded previous satisfaction levels.
“The impact of customer satisfaction on an e-retailer’s bottom line has never been clearer”
The research, which employs a unique, scientific methodology created at the University of Michigan, is based on surveys of more than 23,000 visitors to the top 100 e-retail websites by sales volume, as reported in the 2010 Internet Retailer Top 500 Guide.
“The state of the economy really forced e-retail to step up their game,” said study author Larry Freed, president and CEO of ForeSee Results. “Since so much of the financial downturn was out of their control, companies turned to those things they could improve, and now they are reaping the benefits. Customer satisfaction is not a byproduct of a healthy economy. Instead, a healthy economy is a consequence of satisfied customers.”
For the sixth year in a row, Netflix leads the pack with a score of 87, up two points from last year. Amazon, just a single point behind, also maintains its second-place position for the sixth year running. In 2009, only five websites scored more than 80 (generally considered the threshold for excellence in studies using this methodology), but in 2010, a shocking 28 websites scored 80 or higher. Not a single e-retailer studied scored below 70 (usually the cut off for bottom performers), an unprecedented event in the research’s six-year history. Several companies made huge jumps in score, the most improved being MarketAmerica.com (+12 to 75), Etronics.com (+10 to 73) and Ambercrombie.com (+9 to 79).
The measured retail industries include:
The annual Top 100 E-Retail Satisfaction Index from ForeSee Results is a proven predictor of retail growth. The study quantifies that a highly satisfied online shopper is 73% more likely to purchase online, 47% more likely to purchase offline, 72% more likely to recommend, 53% more likely to return, and 67% more like to purchase again than a dissatisfied shopper. The study also shows that a one-point increase in online customer satisfaction (as measured by this study) translates to roughly $89 million in increased sales for a top e-retailer.
“The impact of customer satisfaction on an e-retailer’s bottom line has never been clearer,” said Kevin Ertell, Vice President of Retail Strategy at ForeSee Results. “This research proves that customer satisfaction is still the number one driver of loyalty, positive word of mouth, and future purchasing intent. Despite a serious dip in 2009, e-retail has jumped back in line with the other industries we measure, an indication for many that the economy is finally on the way back.”
The Top 100 Online Retail Satisfaction Index report, including a score chart for the top 100 websites, is available for free at www.ForeSeeResults.com.
About ForeSee Results
As the leader in online customer satisfaction measurement, ForeSee Results captures and analyzes online voice of customer data to help organizations increase sales, loyalty, recommendations and website value. Using the methodology of the American Customer Satisfaction Index (ACSI), ForeSee Results identifies the improvements to websites and other online initiatives with the greatest ROI. With more than 46 million survey responses collected to date and benchmarks across dozens of industries, ForeSee Results offers unparalleled expertise in customer satisfaction measurement and management particularly in the retail category, with more than 85 retail measures in ForeSee benchmarks.
ForeSee Results, a privately held company, is headquartered in Ann Arbor, Michigan, has offices in London, Toronto, and Vancouver, and can be found online at www.ForeSeeResults.com.
About FGI Research
FGI Research is a leading provider of market research and information solutions that improve the speed, accuracy and impact of business decisions. By combining proven research methods, trusted online sample, and advanced analytics and communications, FGI delivers to end users and marketing research firms immediate and actionable information to decision makers throughout their respective enterprises. FGI offers a premier suite of online research solutions under the SmartPanel™ family of specialty and proprietary custom research panels. For additional information, visit www.fgiresearch.com.