Online Shoppers More Satisfied with Price this Holiday Season

Dec 07, 2010, 09:00 ET from ForeSee Results

ANN ARBOR, Mich., Dec. 7, 2010 /PRNewswire/ -- ForeSee Results' weekly benchmark of shopper satisfaction with online retailers during the holidays suggests that holiday shoppers are more satisfied with online prices this year than they were at the same time last year.

Customers' ratings of prices this year (72.1 on the study's 100-point scale) are more than half a point higher than they were in 2009; though still slightly lower than on Cyber Monday, due to fewer online incentives and specials. Satisfaction with price still remains far below pre-recession levels, which was as high as 75.1 the week of Thanksgiving, 2007.


Thanksgiving Week

Thanksgiving Weekend

Cyber Monday

Post-Thanksgiving Week 1

Holiday 2010: Customer Satisfaction with Online Retail Prices

11/22 - 11/28

11/26 - 11/28

29-Nov

11/29-12/5

2010

72.4

72.3

72.5

72.1

2009

71.6

71.6

71.7

71.5

2008

72.7

72.7

73.6

72.8

2007

75.1

74.8

74.5

74.4



The weekly benchmark from ForeSee Results also tracks how customer satisfaction changes from week to week during the holiday season. Customer satisfaction with online retailers during the first week after Thanksgiving was 73.3 on the study's 100-point scale, slightly higher than it was on Cyber Monday and slightly higher than it was in 2009.

Customer Satisfaction with Online Retail, Holiday Season

Thanksgiving Week

Thanksgiving Weekend

Cyber Monday

Post-Thanksgiving Week 1

11/22-11/28

11/26-11/28

11-29

11/29-12/5

2010 Online Retail Customer Satisfaction

73.7

73.4

73.1

73.3

2009 Online Retail Customer Satisfaction

73.5

73.2

73.1

73.1



"Analysis of these numbers has to be taken in context," said Kevin Ertell, vice president of retail strategy at ForeSee Results. "Last year, a score of 73.1 was real cause for concern because it was such a drop from the previous year's score of 75.6. But the struggling economy has changed our definition of success, and the fact that we see scores that are slightly higher than last year is a very good sign."

As it does nearly every year, online customer satisfaction did take a small dip on Thanksgiving weekend, and is still rebounding.

"In successful retail years, we see online customer satisfaction scores drop over Thanksgiving and then rebound by mid-December," said Larry Freed, President and CEO of ForeSee Results. "It remains to be seen whether that will happen this year, but I have a lot of reasons to be hopeful."

ForeSee Results uses the proprietary methodology of the ACSI, which has a proven link to future spending and revenues. In fact, a one-point increase in satisfaction for a top retailer in 2008 predicted an average revenue growth of 9% in 2009.

Today's benchmark is the aggregate of 136 scores for individual retail websites, which ranged from 49 to 89 (the lowest-scoring retailer in the benchmark experienced a 7-point jump in satisfaction from week-to-week, from 42 to 49).

A score of 80 is generally considered the threshold for excellence. Roughly one-third of the retail websites in the ForeSee Results benchmark, qualify as "excellent" by this measure. Retail websites measured in the benchmark include: Ace Hardware, Bass Pro, Belk, Cabela's, Chef's Catalog, Chico's, DSW, Eddie Bauer, eBags, Gamefly, Godiva, Harry & David, Helzberg Diamonds, Home Depot, LEGO, Musician's Friend, Panasonic, Samsung, ShopNFL, Sears, Sephora, Sony Style, and others.

ForeSee Results has been releasing a weekly online satisfaction benchmark during the holiday shopping season since 2006. The data reported here represents more than 120,000 retail surveys conducted during the week of November 29 to December 5, and nearly half a million surveys since the beginning of November.

In addition to providing an overall benchmark for online retailers during the holiday season, ForeSee Results has benchmarks for more than a dozen subcategories of retail (such as mass merchants, toys, gifts, sporting goods, and entertainment, among others), making it easier for retailers to assess their own performance, relative to their peers.

Among ForeSee Results' largest retail benchmarks, apparel and accessories retailers are clearly providing the most satisfying experience online, by a wide margin, though most of the categories saw gains in satisfaction since the Thanksgiving weekend.


Thanksgiving Week

Thanksgiving Weekend

Cyber Monday

Post-Thanksgiving Week 1

Holiday 2010 Online Customer Satisfaction

11/22 - 11/28

11/26 - 11/28

29-Nov

11/29-12/5

Aggregate Retail Satisfaction

73.7

73.4

73.1

73.3

Apparel and Accessories

77.3

76.6

77

77.4

Computers and Electronics

63.6

63.6

64.6

64.5

Specialty Retailers

74.1

74

73.6

73.8



About ForeSee Results

As the leader in customer satisfaction measurement, ForeSee Results captures and analyzes voice of customer data to help public and private sector organizations increase loyalty, recommendations and website value. Using the methodology of the American Customer Satisfaction Index (ACSI), ForeSee Results identifies improvements to websites and other online initiatives that drive customer satisfaction. With over 55 million survey responses collected to date and benchmarks across dozens of industries, ForeSee Results offers unparalleled expertise in customer satisfaction measurement and management.

ForeSee Results, a privately held company, is located in Ann Arbor, Michigan and at www.ForeSeeResults.com. Connect with ForeSee Results at http://www.foreseeresults.com/blogs-community/

FOR MORE INFORMATION:

Sarah Allen-Short, 734-327-3852

Sarah.Allen-Short@ForeSeeResults.com



SOURCE ForeSee Results



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